Conditions for agreement with ScanMining has not been fulfilled

On November 15, 2007 Lappland Goldminers AB announced a conditional
agreement with ScanMining AB and its subsidiary Blaikengruvan AB and
their respective banks regarding, among other things, acquisition of
Blaikengruvan AB and a composition settlement.

The agreement was conditional, and the conditions have not been  met.
A  binding  agreement  has   thus  not  been  established.   Lappland
Goldminers  AB  intends  to  resume  discussions  with  the   parties
regarding the situation which has now arisen.

About the Company

Lappland Goldminers AB is an exploration company, with the goal of
becoming a producing mining company. The company is listed on the
market place "First North" under the name GOLD, with Mangold
Fondkommision AB as the Certified Adviser, as well as the OTC list of
the Oslo exchange. Lappland Goldminers has secured a number of gold
deposits along the so-called Guldlinjen ("The Gold Line") in
Västerbotten. The Company's strategy is to develop a profitable,
producing gold company with a centrally located processing plant in
Fäboliden, Sweden, and in the Haveri area in Finland, which is
supported by ore from one or several mines either through the
Company's own exploration or alternatively through acquisitions.

Lappland Goldminers is a member of SveMin, the trade association for
mines, minerals and metal producers in Sweden (formerly called the
Swedish Mining Association) and follows SveMin's reporting rules for
public mining and exploration companies.

For additional information about Lappland Goldminers, please contact:

Karl-Åke Johansson, CEO
Ph. +46 950-275 01, +46 70-625 22 57
karl-ake.johansson@lgold.se

Tomas Björklund, Director
Ph. +46 70-662 35 35
tomas.bjorklund@lgold.se

Or see Lappland Goldminers' web site at: www.lapplandgoldminers.com

About Mangold Fondkommision: www.mangold.se