Endomines conducts a rights issue of units for a total of approximately MSEK 96.1

This press release may not be released, published or distributed, directly or
indirectly, in or into the United States, Australia, Hong Kong, Japan,
Singapore, South Africa or New Zealand.
The Board of Directors of Endomines AB (publ) ("Endomines" or the "Company") has
decided, subject to the approval by an extraordinary general meeting that is to
be held on October 30, 2014, on a rights issue of units consisting of shares and
warrants (the "Issue"), totaling approximately MSEK 96.1. The Issue is secured
to 80 percent by subscription undertakings and underwriting commitments.

The Endomines shares are admitted for trading on NASDAQ OMX Stockholm and NASDAQ
OMX Helsinki.

Summary

  · The shareholders of Endomines have preferential right to subscribe for one
unit for each existing share. One unit consists of two shares and two warrants
  · The subscription price is SEK 1.10 per unit, equivalent to SEK 0.55 per
share. The warrants are received without consideration
  · Four warrants entitle the holder, not later than December 9, 2016, to sub
-scribe for one new share in the Company at a subscription price equal to the
quota value increased by 4 percent, rounded up to the nearest SEK 0.10[1]
  · Endomines is initially supplied a maximum of approximately MSEK 96.1 before
transaction costs, upon full subscription of the Issue and, not later than
December 2016, an additional maximum of approximately MSEK 48.1 upon full
exercise of the warrants when subscribing for shares
  · The prospectus for the Issue will be published on November 3, 2014
  · The record date for participating in the Issue will be November 6, 2014
  · The subscription period for the Issue will be November 12 until November 28,
2014
  · The Issue is secured to 80 percent by subscription undertakings and
underwriting commitments

Background and reasons for the Issue

Endomines has progressed from being a diversified exploration company to an
operating mining company based upon in-house controlled mineral reserves and
resources along the 40 kilometer extended Karelian Gold Line.

The production capacity in the centrally located Pampalo plant in 2013 has been
increased from initially 270,000 tonnes to 420,000 tonnes, to better accommodate
for the beneficiation of ore from satellite mines with lower head grades.

The gold price has been declining since 2013, which has negatively impacted
Endomines profitability. Hence, the Company has implemented cost reduction
initiatives and efficiency improvements.

Endomines has continued the exploration activities at the Pampalo mine and in
its vicinity. The Company’s objective is to increase the knowledge of the
mineralizations in the deeper parts of the Pampalo mine and in the potential
open pits nearby. The Company has also commenced mining operations at Rämepuro
and intends to start mine production in Hosko at 2015 and to prepare for other
satellite mines along the Karelian Gold Line. However, this will require
additional capital.

It is the Company's view that the current working capital is not sufficient for
the upcoming twelve months to operate the business and to simultaneously be able
to carry out the planned activities as described in this section. In light of
the Company’s need for additional financial resources, the Board of Directors
has therefore resolved on the Issue, subject to approval by the general meeting.
The proceeds from the Issue shall, besides a strengthening of the Company's
liquidity and financial base, be utilized for continued exploration. A continued
exploration is needed in order to extend the operational period of the Pampalo
plant and mine with nearby situated deposits, as well as to secure the
conversion of mineral resources to mineral reserves in order to be able to open
new mines and thus create increased production along the Karelian Gold Line.

Terms and conditions

Shareholders of the Company on the record date for the Issue will for each share
held in the Company receive one (1) unit right. One (1) unit right entitles the
holder to subscribe for one (1) unit consisting of two (2) new shares and two
(2) warrants (the "Unit") for SEK 1.10, corresponding to SEK 0.55 for each newly
issued share. In total, the Issue includes a maximum of 87,385,625 Units, based
on the total number of shares in the Company on the date hereof. The
subscription price will be converted into Euro for trading on NASDAQ OMX
Helsinki. The subscription price in Euro will be announced in the prospectus,
which is estimated to be published on November 3, 2014.

The warrants are issued without consideration. Four (4) warrants entitle the
holder to subscribe for one (1) new share in the Company. The price for a share
upon exercise of the warrants will ultimately be determined based on the shares’
quota value after the Issue, increased by 4 percent and rounded up to the
nearest SEK 0.10. Upon full subscription of the Issue, the price will be SEK
1.10. The warrants can be exercised for subscription of shares in the Company
during a certain period each quarter until and including December 9, 2016. The
price in Euro for a share upon exercise of the warrants that are traded at
NASDAQ OMX Helsinki will be announced before each exercise period.

The subscription period for Units is expected to be November 12 until November
28, 2014, or a later date that is decided by the Company's Board of Directors.
Subscription of Units according to the underwriting commitments will, in case
the underwriting commitments are utilized, take place as soon as possible after
the subscription period.

The number of shares in Endomines will initially increase by 174,771,250 to
262,156,875 shares upon full subscription of the Issue and by a further
43,692,812 shares to 305,849,687 shares upon full exercise of the warrants.

As a prerequisite for the Issue, the Board of Directors proposes that the
extraordinary general meeting resolves to reduce the shares’ current quota value
of SEK 3.00 to SEK 1.00. The share capital will in such a case be reduced by SEK
174,771,250 for transfer to a fund to be used pursuant to a resolution adopted
by the general meeting. The share capital will then, if the Issue is fully
subscribed, be restored by the Issue proceeds and a transfer of capital from the
share premium reserve. In case the Issue would not be fully subscribed,
additional funds will be added to the share capital through a bonus issue, so
that the share capital is fully restored.

The total Issue proceeds, excluding warrants, amounts to a maximum of
approximately MSEK 96.1 at full subscription of the Issue. The Company will
potentially receive an additional approximately MSEK 48.1 upon full exercise of
the war-rants.

The total Issue costs are estimated to be approximately MSEK 10.0, of which fees
to underwriters are approximately MSEK 4.6.

Additional information

The Issue is subject to approval by the extraordinary general meeting in Endo
-mines. The extraordinary general meeting will be held on October 30, 2014 at
17:00 at Erik Penser Bankaktiebolag's office, Biblioteksgatan 9 in Stockholm.
The notice will be published though a press release and will be available on the
Company’s website www.endomines.com from September 30, 2014. The notice will
also be published in Post- och Inrikes Tidningar on Thursday, October 2, 2014,
when also an advertisement regarding the notice has been made public will be
published in SvD.

Subscription and underwriting commitments

The Company has in connection with the Offering entered into subscription
undertakings with existing shareholders representing approximately 21 percent of
the rights issue and underwriting commitments with existing shareholders and
external parties, amounting to about 60 percent of the Issue. The underwriting
commitments can only be used for lack of subscription in the Issue of up to 80
percent of the Issue proceeds, corresponding to 69,908,500 Units or
approximately MSEK 76.9, based on the total number of shares in the Company on
the date hereof. The underwriting compensation is 8.0 percent of the respective
underwriter's maximum commitment under the underwriting undertaking.

Indicative timetable for the Issue

October 30, 2014                   Extraordinary general meeting to approve the
Board of Director's resolution on the Issue
November 3, 2014                  Estimated date for publication of the
prospectus
November 4, 2014                  Last trading day including the unit right
November 5, 2014                  First trading day excluding the unit right
November 6, 2014                  The record date for participating in the
Issue, i.e. shareholders that are registered in the share register on this date
will receive unit rights that entitle them to participate in the Issue
November 12-25, 2014            Trading in unit rights on NASDAQ OMX Stockholm
and NASDAQ OMX Helsinki
November 12-28, 2014            Subscription period with and without unit rights
December 4, 2014                  Publication of the Issue preliminary outcome

Financial and legal advisors

Erik Penser Bankaktiebolag is financial adviser and Hannes Snellman Attorneys is
legal adviser to Endomines in connection with the Issue.

For further information, please contact:

Markus Ekberg
CEO Endomines
Phone +358-40-706 48 50
or visit: www.endomines.com

Endomines AB discloses the information provided herein pursuant to the Swedish
Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The
information was submitted for publication at 08:45 CET on September 30, 2014.

About Endomines AB
Endomines is conducting exploration as well as mining activities along the 40
kilometer extended Karelian Gold Line. Endomines is controlling, based on
decisions from relevant authorities, the explorations right for the entire area.

The Company´s first mine, Pampalo, was started in February 2011. During 2014
production from the open pit at Rämepuro was commenced and the Company is now
planning to start mining of the gold deposit at Hosko. The ore from Hosko will,
as for the ore from Rämepuro, be treated at the, within the Karelian Gold Line
centrally located, mill at Pampalo.

The Company operates under a regime of sustainable principles and with a
business practice to minimize the impact to the environment.

Endomines applies SveMin's & FinnMin's respective rules for reporting (public
mining & exploration companies). The Company has 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.

The shares of Endomines AB are quoted on NASDAQ OMX Stockholm under ticker ENDO
and on NASDAQ OMX Helsinki under ticker ENDOM. Pareto Securities acts as
Liquidity Provider in Stockholm.

Important information
Publication or distribution of this press release in certain jurisdictions may
be restricted by law and persons in those jurisdictions where this press release
is published or distributed should inform themselves about and observe such
restrictions.

This press release may not be released, published or distributed, directly or
indirectly, in or into the United States, Australia, Hong Kong, Japan,
Singapore, South Africa or New Zealand or any other country where such action is
wholly or partially subject to legal restrictions. The information in this press
release may not be forwarded, reproduced or disclosed in ways that conflict with
such restrictions. Omission to follow this instruction may result in violation
of the United States Securities Act of 1933 ("Securities Act"), as amended, or
applicable laws of other jurisdictions.

This press release does not constitute an invitation or offer to acquire,
subscribe for or otherwise trade in unit rights, interim shares, interim units,
new shares or warrants in Endomines AB (publ). An invitation for interested
persons to subscribe for Units in Endomines AB (publ) will only be made through
the prospectus that Endomines AB (publ) intends to publish on or about November
3, 2014.

Neither the unit rights, paid subscribed shares, interim units, new shares or
warrants will be registered under the Securities Act, or under the securities
laws of any state of the United States or any province in Canada and may not be
offered or sold in the United States or Canada or to a resident there or on
behalf of such persons other than in such exceptional cases that do not require
registration under the Securities Act or any provincial act in Canada.

In case of differences between the Swedish and English language versions of this
press release, the Swedish language version shall prevail.

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[1] Equal to SEK 1.10 upon full subscription of the Issue