Endomines Finland Plc – Inside information – 11.11.2025, at 14:15 EET
Inside Information: Endomines Discovered Gold in a New Area of the Ukko Deposit – Results Support Further Exploration
Based on exploration conducted in summer 2025, Endomines believes that the Ukko deposit in Ukkolanvaara consists of five gold-prospective zones. The northernmost of these was explored earlier this year (see releases dated 11 February, 28 May, 27 June, and 29 August 2025). The company then proceeded to investigate the southernmost zone, located 5.8 kilometres south of the initial drilling site. This area had not been previously drill-tested. Endomines has now received the first drill results from the area, which indicate moderate gold grades.
The southernmost drilling campaign targeted an area where both outcrop sampling and electromagnetic surveys had indicated gold potential (release dated 29 September 2025). Two drill holes were completed in this area, and no further results are expected from it in 2025.
The results of the campaign validate the effectiveness of Endomines’ exploration methodology: combining outcrop sampling with electromagnetic survey data has proven to be an efficient approach for identifying gold, particularly in BIF-type (Banded Iron Formation) deposits.
Drill Results from Holes UKKO-027 and UKKO-028 at Ukkolanvaara:
- Drill hole UKKO-027 intersected:
- 5.95 m @ 0.28 g/t gold from 25.80 m
- including 0.95 m @ 0.98 g/t gold from 30.80 m
- 9.75 m @ 0.33 g/t gold from 46.25 m
- including 0.85 m @ 0.79 g/t gold from 49.10 m
- 5.95 m @ 0.28 g/t gold from 25.80 m
- Drill hole UKKO-028 intersected:
- 10.30 m @ 0.63 g/t gold from 77.80 m
- including 1.10 m @ 1.31 g/t gold from 83.80 m
- 7.85 m @ 0.46 g/t gold from 157.10 m
- including 0.95 m @ 1.04 g/t gold from 157.10 m
- including 0.90 m @ 1.33 g/t gold from 164.05 m
- 10.30 m @ 0.63 g/t gold from 77.80 m
“Our exploration team continues its creative and bold search for gold. We have previously confirmed the presence of gold in the northern part of the Ukko deposit. In the north, we learned how to explore BIF-type deposits by utilizing the results of electromagnetic surveys. With that knowledge, we moved 5.8 kilometres south along the same iron formation—and now, in the first drill holes, we have hit gold. The grades in these initial results are relatively moderate, but at this stage, the most important thing is to confirm that gold mineralization continues across a broader area in Ukkolanvaara. The results also strengthen our confidence in the effectiveness of our exploration methods for deposits like Ukko. The iron formation at Ukkolanvaara is extensive, stretching approximately 7–8 kilometres, so we have only just scratched the surface,” commented Kari Vyhtinen, CEO of Endomines.
The significant drill intersections from the UKKO drill holes are presented in Table 1 and the location of the exploration drill holes are presented in the map (Figure 1).
Analysis of Drill Results Continues, More Results Expected During the Autumn
So far, 38 drill holes have been completed in the second phase of the Ukkolanvaara drilling campaign, with a total length of approximately 9,800 metres. Drilling is still ongoing, and assay results from 19 drill holes are pending.
Endomines has identified several areas with high gold potential within the Ukko area. Exploration activities for the remainder of the year will focus on these targets. The program has already moved 2-4 kilometres north, where the plan is to drill 10 holes. In this area, visible gold has been observed in drill holes UKKO-037 and UKKO-041.
Ukkolanvaara Area and Geology
Ukkolanvaara is located approximately 15 kilometres south of the Pampalo mine area. One previous drilling program has been carried out in the area, along with extensive geophysical surveys and surface sampling. The gold occurrence in the area is known as the Ukko deposit, and the Ukkolanvaara area is the company’s primary exploration target for the 2025 drilling campaign.
The most intense gold mineralization at Ukkolanvaara has been observed in a tightly folded banded iron formation (BIF), where pyrrhotite replaces magnetite bands. So far, visible gold has been identified in 13 drill holes at Ukkolanvaara (UKKO-001, UKKO-002, UKKO-003, UKKO-005, UKKO-006, UKKO-009, UKKO-015, UKKO-016, UKKO-020, UKKO-021, UKKO-027, UKKO-037, and UKKO-041). The alteration halo surrounding the gold mineralization consists of chlorite, carbonates, green mica, and iron sulphides.
BIF-type gold mineralizations (banded iron formations) have also been encountered in other Archean greenstone belts, such as those found in Australia and Canada.
Drilling technology and quality assurance
All surface drilling has been carried out by MK Core Drilling Oy, using WL-76 tubes, resulting in a core of 57.5 mm in diameter. Drill hole locations will be surveyed after completion of the drilling program. All coordinates and maps used in this release reflect planned coordinates. A downhole survey of bearing and dip deviations has been completed with the DeviFlex survey tool. All cores have been oriented with the Reflex ACT3 equipment.
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-929) and then sent to MS Analytical laboratory in Langley, Canada, where samples were analyzed by methods FAS-111 (Gold), and IMS-230 (multi element).
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.
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.
Further information:
Kari Vyhtinen
CEO
kari.vyhtinen@endomines.com
+358 40 585 0050
Jani Rautio
Chief Technical Officer
jani.rautio@endomines.com
+358 50 593 0812
Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our mining operations in Pampalo, Ilomantsi region, focus on gold mining and processing, as well as 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. We are a growing mining company that embraces new ways of thinking; we want to leave a positive footprint where we operate, which is why our goal is to grow the Karelian gold line into a significant, sustainable gold-producing region. Endomines is listed on the main list of OMX Helsinki (PAMPALO). www.endomines.com.
The Karelian Gold Line is 40 kilometers 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. Endomines controls extensively exploration rights across the Karelian Gold Line.