The press release including tables can be downloaded from the following link: Press release (PDF) Endomines AB releases its Third Quarter (ending September 30, 2011) production results and 2011 gold production guidance for its Pampalo Gold Mine. The Q3/2011 production figures are as follows: Pampalo 2011 Production[1] +---------------------------+-------+-------+-------+-------+ | |Q1/2011|Q2/2011|Q3/2011| YTD| +---------------------------+-------+-------+-------+-------+ |Tonnes mined | 25,382| 44,050| 49,441|118,873| +---------------------------+-------+-------+-------+-------+ |Tonnes processed | 35,797| 53,169| 56,915|145,881| +---------------------------+-------+-------+-------+-------+ |Head grade (Au g/t) | 3.5| 3.1| 3.7| 3.5| +---------------------------+-------+-------+-------+-------+ |Hourly utilization (%) | 63.4| 90.5| 88.1| 87.7| +---------------------------+-------+-------+-------+-------+ |Gold recovery (%) | 83.8| 87.0| 86.7| 86.4| +---------------------------+-------+-------+-------+-------+ |Gold produced kg | 105.4| 144.7| 184.8| 434.9| +---------------------------+-------+-------+-------+-------+ |Gold produced oz | 3,390| 4,651| 5,940| 13,981| +---------------------------+-------+-------+-------+-------+ |LTIFR[2] (12 month rolling)| 39.7| 50.0| 42.5| 42.5| +---------------------------+-------+-------+-------+-------+ Markus Ekberg, Chief Executive of Endomines AB, comments: "The Pampalo processing plant continues to show good production performance. We are very satisfied by the plant utilization rate and throughput tonnage. However, total Q3/2011 production figures were slightly below the initial target due to the power line guarantee repair and maintenance shutdown in August as per our press release on 6(th) of July 2011. Underground mine production tonnage was below the target as the July cave-in continued to affect our underground production schedule, but this was mitigated by a high head grade. We are also pleased that we have reached an agreement with Sandvik on the accelerated delivery of a new cable-bolting rig before the year-end. It will replace the rig which was wrecked in the July incident. Meanwhile, ground support is provided by a contractor. Endomines will also take delivery of a new drifting jumbo in November, which will speed up underground development work and allow for the rapid opening of new production areas in the underground mine. Endomines maintains its 2011 gold production guidance of 550-600 kg for the full year 2011." For further information, please contact: Markus Ekberg CEO of Endomines AB tel. +358 40 706 48 50 or visit the Company's website atwww.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 --- This news release may contain forward-looking statements, addressing 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 [1] Production figures for Q1-Q2 are final figures while production figures for Q3 are based on company own assaying and not confirmed by any external laboratory. Cash Cost USD/oz will be published in the Q3-raport, due on 14(th) November 2011. [2] LTIFR = The Lost Time Injury Frequency Rate (LTIFR) is based on reported lost time injuries resulting in one day/shift or more off work per 1,000,000 hours worked. [HUG#1552269]
Pampalo Q3/2011 production statistics and progress report
| Source: Endomines AB
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