Endomines — Earnings Release 2023

Oct 4, 2023

Endomines Finland Plc's operational update for January-September 2023: Pampalo's gold production increased in January-September by 78.5 % compared to the corresponding period last year

Endomines Finland Plc's operational update for January-September 2023: Pampalo's gold production increased in January-September by 78.5 % compared to the corresponding period last year

Endomines Finland Plc | Stock Exchange Release | 4.10.2023 at 16.30 EET

Endomines Finland Plc's operational update for January-September 2023:

Pampalo's gold production increased in January-September by 78.5 % compared to the corresponding period last year

Pampalo’s gold production in January-September 2023 increased by 78.5 % compared to the corresponding period in 2022. Production in January-September 2023 was 317.4 kg (178.0 kg) which equals to 10,204 oz (5,718 oz). Production during July-September 2023 was 107.4 kg (69.7 kg) which equals to 3,451 oz (2,240 oz). In 2022, Endomines produced 267.5 kg, (equivalent to 8,061 oz) of gold.

During the third quarter of the year, production increased in line with the strategy announced by the company. Published production volumes are based on preliminary data, final figures may change slightly after final specifications have been received for all deliveries to customers. However, the change is not expected to be significant. For 2023, the company’s production is expected to increase by 35–55% compared to the previous year. Endomines revised its guidance on the August 17th, 2023, and estimates production volumes to be near the upper end of the range.

“I am pleased to say, that our gold production volume increased exactly as our plan. Pampalo’s production forms a foundation of our business and we will continue our activities to further increase production volumes to higher levels. The capacity of Pampalo processing plant enables us to increase production without significant investments,” says Kari Vyhtinen, CEO of the company.

Endomines Finland Plc

Further Information:

Kari Vyhtinen, CEO, Endomines Finland Plc.

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

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