Endomines postpones the planned directed issue of approximately 45 MSEK

The press release including tables can be downloaded from the
following link: Press release (PDF)

Due to current market conditions the board of Endomines has decided
for the time being not to proceed with the directed issue of
approximately 45 MSEK that the board was authorised to carry out at
the time of the extraordinary shareholders' meeting on 9 June 2008.
The goal was that the issue, directed to new institutional investors,
would be finalized before the vacation period.

The postponement affects the ability to accelerate the investments in
the concentrating plant and the Pampalo mine. The board and the
management group are reviewing the conditions to carry out parts of
the key investments in the accelerated plan and thereby enabling a
shorter time to production.

The initial investment plan remains until further notice. It is
described in the 2007 prospect and involves a rights issue to
existing shareholders during the fourth quarter of 2008 and
production start during 2010 at the latest.


Stockholm 18 July 2008

Endomines AB (publ)
The Board


For further information, please contact:

Timo Lindborg, CEO, tel +46 8 611 6645

This is Endomines

Endomines AB (publ) prospects and develops mineral deposits in
Finland. The company owns exploration rights or mining concessions
for all known gold deposits along the Karelian Gold Line, among
others it owns mining concessions in Pampalo mine in which the
company has a goal of commencing production during the second half of
2009. Endomines also has exploration rights for a number of gold
deposits in the Finnish Lapland. Further to gold the company also
focuses on the industrial mineral ilmenite which is showing stable
demand growth and price development. These ilmenite deposits are
located in Central Ostrobothnia, Finland.

Endomines applies SveMin's and FAERI's common reporting rules for
public mining and exploration companies. Endomines has chosen to show
mineral resources according to the JORC or NI 43101 code, both
accepted internationally. Endomines also applies International
Financial Reporting Standard (IFRS) as reporting standards for
account principles and practice. This thereby increases the
possibility to compare the company to international mining and
exploration companies.

Read more of Endomines' press releases at
 http://www.endomines.com/news.php