Bankruptcy declared for Lappland Goldminers

| Source: Lappland Goldminers AB
The district court of Lycksele has as of today, in accordance with the petition
of bankruptcy filed by the Company, decided to declare Lappland Goldminers AB
(publ) and Lappland Goldminers Fäboliden AB bankrupt. Anders Bergman at
Ackordscentralen Norrland AB has been appointed administrator of the bankruptcy
Lappland Goldminers AB (publ)

For additional information, please visit: or contact:

Anders Bergman, administrator of the bankruptcy estate    Thomas Häggkvist,
acting CEO/CFO

Tel. +46 70-557 16 24
Tel. +46 70-552 26 22

Lappland Goldminers AB was a producing mining company. The Company was listed on
the market place First North Premier in Sweden under the name GOLD.

Lappland Goldminers’ strategy was to develop mineral deposits into producing
mines. The Company was strategically positioned with the fully permitted
Fäboliden gold project in northern Sweden. The Pahtavaara gold operation is
located in the north of Finland. Lappland Goldminers was a member of SveMin, the
Swedish association for mines, minerals and metal producers, and follows
SveMin’s reporting rules for public mining and exploration companies.