Lappland Goldminers is planning mine production for a minimum of three years at the Pahtavaara gold mine in Finland.

Lappland Goldminers AB (publ), listed on the market place "First
North" and the OTC list of the Oslo exchange can today after five
months of intensive work present plans for at least three years of
mine production at Pahtavaara gold mine in Finland.

Lappland Goldminers AB can now present its plan for minimum of three
years of production based on its interpretation of all available
geological information and partly from continued definition drilling
since May 2008.  In June the company started production of gold from
old mine waste from the mine in Pahtavaara according to earlier
published press release. Production from the mine  will start in 2008
and in the spring of 2009 the company plans to be in full production
at a level of 400.000 tonnes of ore from the mine per year.  An
additional 100.00 tonnes per year of gold bearing material from the
mine waste  will be treated in the mill making the total mill
production to 500.000 tonnes per year. The yearly gold production is
estimated to 29 000 troy ounces per year at a cash cost of 600 USD
/ounce using an exchange rate of SEK 6.5/ USD. The yearly profit,
starting from the beginning of spring 2009, from the fully owned
daughter company Lappland Goldminers Oy, is estimated to SEK 50
millions (USD 7.5 million)  at the present gold price and exchange
rate, before depreciation and interest.

The ore evaluation is carried out at an exchange rate of 1.46
USD/Euro and at a gold price of 880 USD/tr.oz. A lower "cut-off" at
1.9 g/t Au and a "top-cut" at 20.0 g/t Au have been used for the
calculations. Internal waste dilution used in the calculation is 25 %
with 0 g/tonne Au.

Link to Table: "Ore reserv_Mineral resource_2008-09-30_B"

The Pahtavaara gold mineralization is open towards depth and the
assumption that the  mineralization will continue in that manner is
positive. The Company is confident that mineral resources and ore
reserves will increase further. The ore bodies, verified in the mine
have been judged to be economically viable.

Ore reserve and mineral resources estimations have been carried out
under the supervision by Risto Virkkunen, a qualified person (QP) and
Chief Geologist of Lappland Goldminers AB. The estimations were
carried out according to the rules of SveMin and FAERI which are in
compliance with the Canadian NI 43-101 reporting and disclosure
requirements.

The Company acquired the Pahtavaara mine and surrounding mineral
claims in April 2008. The mine is in the Sodankylä Municipality in
northern Finland about 150 km northeast of Rovaniemi. Within trucking
distance from the Pahtavaara Mill there are many promising gold
occurrencies with possibilities to be developed into new mines. The
potential ore will then be transported and processed in the
Pahtavaara plant.

The Pahtavaara gold deposit, which is located in Central Lappland's
Greestone Belt (CLGB), consists mainly of komatitic lavas,
volcanoclastic sediments and mafic metavolcanics. The ore is situated
on the contact zone between komatitic lava and volcanoclastic
sediments.

Gold is present at Pahtavaara in greyish talc-dolomite veins in
association with pyrite and magnetite, +/- barite, quarts-barite
veins and biotite-tremolite rock and locally as inclusions in
magnetite. The gold appears mainly as free gold and the ore bodies
are associated with ENE shear zones and occur as multiple narrow
sub-vertical horizons.

For additional information:
Karl-Åke Johansson, CEO
Tomas Björklund, Board Member
Ph. +46950-275 01, +4670-625 22 57                               Ph.
+4670-662 35 35
karl-ake.johansson@lgold.se
tomas.bjorklund@lgold.se

Also visit: www.lapplandgoldminers.com
About Mangold Fondkommission:  www.mangold.se

Lappland Goldminers AB is an exploration company and a producing
mining company. The company is listed on the market place "First
North" under the name GOLD, with Mangold Fondkommission AB as the
Certified Adviser, as well as on the Norwegian OTC list. 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 centrally
located processing plants in Fäboliden and Blaiken, Sweden, and in
the Haveri area in southern Finland and Pahtavaara in Northern
Finland, 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.