Endomines — Earnings Release 2023

Apr 4, 2023

Pampalo's gold production increased by 215 % compared to the corresponding period last year

Pampalo's gold production increased by 215 % compared to the corresponding period last year

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

Endomines Finland Plc, Stock Exchange Release, 4.4.2023, at 15.00 EET
Pampalo gold production in January-March 2023 increased by 215 % compared to the
corresponding period in 2022. Production during Q1/2023 was 111.6 kg (35.4 kg)
in kilograms, 3588 oz (1137 oz) in ounces.  In 2022, Endomines produced 267.5
kg, (equivalent to 8061 ounces) of gold.

During the first 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, in line with the previous
guidance.

Drilling Update

The company will continue exploration drilling as defined in the strategy to
secure long-term production growth.

Drilling is currently ongoing in the Korvilansuo area. Approximately 2560 meters
of the planned 5000 meters drilling program for the Korvilansuo area have been
conducted. Results are expected in April-July. Thereafter, drilling will
continue in the Pampalo and Kartitsa areas.

Base of till (BOT) sampling in the Kartitsa area is proceeding according to
plan. 613 samples have been taken. The total number of samples planned for 2023
is 3000.

“The company's exploration and production activities are now progressing in line
with the strategy we renewed last year, delivering the expected results. Our
production at the beginning of the year was a fantastic start for 2023,” says
Kari Vyhtinen, CEO of the company. “In Pampalo, the capacity of our production
facility allows us to increase production without significant investments. In
addition, the high price of gold supports the development of our business,"
Vyhtinen continues.

Endomines Finland Plc

Further Information:
Kari Vyhtinen, CEO, Endomines Finland Plc.
kari.vyhtinen@endomines.com, +358 40 585 0050

Endomines

Endomines is a mining and exploration company with a primary focus on gold.
Endomines is engaged in mining operations at the Pampalo mine in Ilomantsi, and
in exploration activities along the Karelian Gold Line in Eastern Finland.
Endomines also owns rights to several gold deposits in Idaho and Montana, US,
where Endomines aims to continue the development work through partnership
agreements.www.endomines.com

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