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Endomines AB (ENDO)

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Tuesday 24 April, 2012

Endomines AB

Endomines AB publishes complete exploration res...

Endomines AB publishes complete exploration results for 2011

The press release can be downloaded from the following link:
Endomines AB publishes complete exploration results for 2011

Endomines AB (the "Company") is pleased to report the final results from the exploration campaign undertaken during 2011 along the Karelian Gold Line ("KGL"), in the vicinity of the Pampalo mining area, in the Hosko, Rämepuro and Korvilansuo areas, as well as the Porkonen area in Finnish Lapland. The Karelian Gold line is a 40 km long gold critical Archean greenstone belt located near Ilomantsi, Eastern Finland, where Endomines controls all currently known gold deposits. All the properties drilled are fully owned by Endomines.

The exploration drilling campaign along on the Karelian Gold Line was designed to extend and verify the previously known gold mineralizations as well as discovering new targets using low altitude airborne geophysical surveys. The purpose of the exploration program carried out in on the Porkonen area was to verify the local bedrock stratigraphy, and only consisted of two holes totaling 686.6 meters.

All the assays from the drilling campaign have now been analyzed. Complete results are published on the Company web-site: http://www.endomines.com/depositmap.php. with highlights below.

Pampalo: The results derived from the Pampalo mining area are of significance, and the mineralized zones   will be further explored by surface drilling during the summer.

Rämepuro: The deposit has yielded drill core intercepts of 10.8 m @ 3.4 g/t gold, 5.0m @ 3.4 g/t gold and 5.4 m @ 3.4 g/t gold.  The results are from a 14-hole core drill program, totaling 1,294 meters. The drill program was designed to test the strike and depth extensions of identified mineralized zones outside the previous open pit design at Rämepuro. These drilling results will be included in the new revised resource and reserve estimate, which is currently being prepared by Outotec Oyj. Further exploration drilling will be continued during the coming summer, and Rämepuro is likely to be the first satellite deposit for development on the Karelian Gold Line.

Korvilansuo: The first diamond drilling results at the newly discovered Korvilansuo mineralization have yielded significant gold-bearing intersections, including a previously reported intersection of 3.1 g/t gold over 28 m (true width not determined, no top cut has been applied).  These drilling results, together with the geology of the area and previous findings, support the decision by Endomines to focus its forthcoming main exploration efforts at Korvilansuo in addition to Rämepuro.

Hosko: The drilling campaign (653.7 m) carried out in 2011 on the Hosko deposit resulted to intercepts of    17 m @ 1.7 g/t gold and 3.0 m @ 2.5 g/t gold. The program consisting of five drill holes was designed to investigate previously not-tested potentially mineralized parts along strike and towards the depth of the gold-bearing zone. In most places, the gold mineralization continues along predicted levels even if gold grades are not very high. Previous works have shown that the mineralization at Hosko is often complex and erratic. This style of mineralization is often referred to as "nuggetty", or possessing a high nugget effect. It's obvious that further exploration, by using sampling methods like RC-drilling (reverse circulation) and bulk sampling is needed once the mineralization has been delineated by core drilling to enable an adequate estimate of the gold grade at Hosko.

Pampalo NW: Further drilling (895.5 m) at Pampalo NW has yielded drill core intercepts of 11.5 m @2.7g/t gold and 3.1 m @2.6 g/t gold.   The gold mineralization could be followed in all in strike-drilled holes. A new mineral resource estimate will be available during the summer. An application for mining license extension to cover the Pampalo NW area has been filed.

"The exploration results from last summer's campaign have confirmed the significant potential for gold deposits along the Karelian Gold Line", says Markus Ekberg, Chief Executive of Endomines. "The geophysical aerial surveys discovered several new drilling targets. The diamond drilling results, particularly at Korvilansuo, showed some significant gold bearing intersections. With the final assay results, we are now preparing to start test-production at Rämepuro in 2013".

                                                                                                 

For further information, please contact:
Markus Ekberg '
CEO of Endomines AB
tel. +358 40 706 48 50

or visit the Company's website at www.endomines.com

About Endomines AB:

Endomines AB is a Nordic mining and exploration company with its first operating gold mine in production since February 2011. The mine is located in Eastern Finland, on the Karelian Gold Line, a 40 km long gold critical belt, where Endomines controls all currently known gold deposits.

The company has several other gold and industrial mineral properties at various stages of development. All Endomines' mineral assets are located in Finland, which is politically stable, has a highly developed infrastructure and is ranked as one of the most favorable jurisdictions for the mining industry.

Endomines aims to increase shareholder value by developing its strong portfolio of assets, as well as exploring new deposits on the Karelian Gold Line and in Finnish Lapland. The company will also consider new opportunities and acquisitions for further growth.

The company's business practices and mining operations are based on sustainable principles and on minimizing the impact on the environment.

Endomines applies SveMin's&FinnMin's respective rules for reporting (public mining & exploration companies). It has also chosen to report mineral resources and ore reserves according to the JORC-code, which is the internationally accepted Australasian code for reporting ore reserves and mineral resources.

Endomines applies International Financial Reporting Standards (IFRS) as approved by the European Union.

The shares of Endomines AB are quoted on the First North Premier segment in Stockholm under ticker ENDO.ST. Erik Penser Bankaktiebolag acts as Certified Adviser and Liquidity Provider.

Read more about Endomines on www.endomines.com

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This news release may contain forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's   actual   results,  programs  and  financial  position  could  differ materially from those anticipated in such forward-looking statements as a result of  numerous factors, some of  which may be beyond  the Company's control. These factors  include:  the  availability  of  funds;  the timing and content of work programs;   results   of  exploration  activities  and  development  of  mineral properties,  the interpretation of  drilling results and  other geological data, the  uncertainties of resource and reserve  estimations, receipt and security of mineral  property  titles;  project  cost  overruns  or  unanticipated costs and expenses,  fluctuations  in  metal  prices;  currency  fluctuations; and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.




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Source: Endomines AB via Thomson Reuters ONE

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