Endomines Finland Ltd – Stock Exchange Release, inside information, September 13, 2023, at 14.30 EET

Inside information: Endomines reports significant gold findings from Karelian Gold Line exploration

Endomines has made a significant finding of mineralization zone from the Kuittila area in the Karelian Gold Line. The findings concern drill hole KT-015 which intercepted 9.75 m at 17.4 g/t gold and 0.12 % molybdenum.

Highlights of the KT-015 drill hole results:

• 9.75 m @ 17.4 g/t gold and 0.12 % molybdenum from 84.95 m
  • Including 0.9 m @ 157 g/t gold and 0.05 % molybdenum from 92.8 m

• 3.9 m @ 6.7 g/t gold and 0.01 % molybdenum from 38.8 m
  • Including 1.1 m @ 19.7 g/t gold, 0.01 % molybdenum from 40.8 m
• Visible gold observed in drill core
• Gold associated with strongly sheared quartz veins within tonalite

"Our exploration team continues to do great work in the Kuittila area. Never before have such high gold grades been found in the area. In addition, the discovery is located South of the historic Kuittila deposit, which is a largely unexplored area. We see the exploration potential of the Karelian gold line as very promising. Concentrating our operations on the Karelian Gold Line also allows us to grow our business in a cost-effective way," comments Kari Vyhtinen, CEO Endomines.

The KT-015 drill hole is located immediately South of the historical gold intersections in Kuittila. The drill hole intersected previously unknown gold mineralized lodes and extends the known mineralization towards South. This mineralization style is different than in the previously released (Press release July 24, 2023) drill hole KT-007, which intercepted 18.0 m at 5.0 g/t gold, 173.6 g/t silver, 1.2 % lead and 0.8 % zinc, 0.1 % copper and 0.02 % molybdenum, a multi-metal mineralized zone. In KT-015 gold is hosted by quartz veins within a strongly sericitized and sheared tonalite. The reported intersection is the highest-grade to date seen in the Kuittila area.

The drilling program in Kuittila was finished on 11th of September. The program consisted of thirty-three (33) diamond drill holes for a total of 5072 m. Geological logging and assaying of the remaining drill core is in progress.

The Kuittila gold deposit was discovered by GTK in 1984. The highest-grade historical gold intersection from Kuittila is in the drill hole M424486R309 that has an intersection of 1.0 m at 19.4 g/t gold. Kuittila has a historical mineral resource of 275 000 tonnes at 2.6 g/t gold, totaling 23 000 oz (GTK 1989). Kuittila is located 25 km south of Pampalo.

Significant intercept from the multi-element assay results for the drill hole KT-015 are shown in the table 1 and the location of the hole in figure 1.

Table 1 - Diamond drilling results 2023 from Kuittila, Karelian Gold Line, Finland

Note: A lower cut-off of 0.4 g/t Au and a maximum 2 m consecutive internal dilution was used for reporting. No upper cut-off grade was applied, and all figures rounded up. True widths are not yet determined.

Figure 1 - Location map of the 2023 drilling program drillholes collars in relation to existing holes prior to 2023 drilling campaign and gold concentration in base of till at Kuittila, Karelian Gold Line.

Karelian Gold Line

The Karelian Gold Line is 40-kilometer-long, a gold prospective portion of the Ilomantsi greenstone belt located in Eastern Finland approximately 500 kilometers northeast of Helsinki. The area hosts several gold deposits, the largest known being Pampalo. The Pampalo mine has produced 190,000 ounces of gold at an average grade of 3.6 g/t. Endomines controls 100% of the exploration rights covering over 100 km2 across the Karelian Gold Line.

Drilling technical

All surface drilling has been carried out by KDC Oy, using WL-66 tubes, resulting in core of 50.5 mm in diameter. Drill hole locations, have been surveyed by using mine survey equipment. Downhole survey of bearing and dip deviations have been completed with SPT GyroMaster survey tool. All core has been oriented with SPT CoreMaster equipment.

Assay and QA/QC procedures

The drill cores have been logged by Endomines own personnel. The drill cores have been cut in half by Palsatech Oy in Kemi prior to the shipping to CRS’ laboratory in Kempele. Samples were sent to CRS' laboratory in Kempele for preparation (code PRP-926) and then sent to MS Analytical laboratory in Langley, Canada, where samples were analyzed by methods FAS-111 (Gold), and IMS-230 (multi element). Gold over 10 g/t was re-analysed with FAS-415.

Normal QA/QC (Quality Assurance/Quality Control) procedures have been adhered to on all the samples, with standards, blanks and duplicates routinely submitted as part of the sampling program. The quality of sample preparation, security integrity and chemical assays was equal to, or exceeded, current industrial standards and the requirements of the JORC-code.

Competent Person

This statement has been controlled by Eurogeologist Jani Rautio MSc (Geol) acting as a Qualified Person in compliance with the Fennoscandian Association for Metals and Mining Professionals, FAMMP, –standards. Jani Rautio is a full-time employee of Endomines and owns 2 000 shares in Endomines.

Endomines Finland Plc

Further information

Kari Vyhtinen, CEO, kari.vyhtinen@endomines.com, +358 40 585 0050

Jani Rautio, Head Geologist, jani.rautio@endomines.com, +358 50 593 0812

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations focus on gold production and exploration in the Karelian gold line, in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries, and create value by transforming natural resources into wealth, an investment that withstands the volatility of global politics. Our vision is to develop the Karelian gold line into one of the most significant and sustainable gold producing regions in the world. Endomines is listed on the main list of OMX Helsinki (PAMPALO). www.endomines.com