Endomines conducts a rights issue of shares for a total of approximately MSEK 70.8

This press release may not be released, published or distributed, directly or
indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand,
Singapore, South Africa or the United States
The Board of Directors of Endomines AB (publ) ("Endomines" or the "Company") has
decided, subject to the approval by an extraordinary general meeting to be held
on December 17, 2015, on a rights issue of shares (the "Issue"), totaling
approximately MSEK 70.8. Notice to the extraordinary general meeting to inter
alia approve the decision of the Issue will be made public today through a
separate press release. The Issue is secured to eleven per cent by subscription
undertakings from three owners.

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

Summary

  · The shareholders of Endomines have preferential right to subscribe for three
new shares for each existing share.
  · The subscription price is SEK 0.09 per share
  · Endomines is supplied a maximum of approximately MSEK 70.8 before
transaction costs, upon full subscription of the Issue
  · The prospectus for the Issue is expected to be published on December 23,
2015
  · The record date for participating in the Issue will be December 21, 2015
  · The subscription period for the Issue will be January 11-25, 2016
  · The Issue is secured to eleven per cent by subscription undertakings

Background and reasons for the Issue

Endomines has gone through an intensive development since the mining start in
2011. The operations are focused to the centrally located Pampalo underground
mine along the 40 kilometer extended Karelian Gold Line. The Company has, since
the start, developed into a focused and well-functioning mining company. Total
gold production since the start in 2011 until the third quarter in 2015 has been
a total of 3.5 tons of gold or in average 60 kg gold per month. This is the
equivalent to more than 700 kg gold per year.

The mining operations take place in Pampalo, but also in the neighbouring
Pampalo East and in Rämepuro.

As a listed mining company, Endomines has since the start of mining suffered
from complicating circumstances; very heavy hedge payments in accordance with
the project loan agreement that was a pre-condition for the financing before
mining start, decreasing gold content and diminishing ore reserves over time.

On October 29, 2015 Endomines has reached an agreement with Nordea Bank to
convert the short-term liability obtained at the closure of the Company´s gold
hedge on October 9 to a long-term loan. At the same time, all long-term loans
were prolonged from earlier payback years 2016-2017 to 2018-2019. This means
that Endomines has availability to its own cash flow until end of 2017 and
secures financial scope to develop the operations of Endomines, focusing on
exploration for a future profitable mining.

The underground exploration in the Pampalo mine below levels 500-700 meters has
given exceptionally good results during the autumn 2015. Regional exploration
activities along the Karelian Gold Line will be reduced in favour of a focus on
the Pampalo underground mine and its vicinity. Regional exploration activities
will be reactivated with improved gold prices.

The Company will, within the limits of its financial capabilities, reduce its
gold production based on the Selective Mining principle. The Company intends to
mine and process approximately 125,000 tonnes of high-grade ore. Mining will
therefore be concentrated to earlier known as well as in 2015 discovered high
-grade areas. The ore will be processed in campaigns, approximately for 7-10
days per month. The Pampalo underground mine will operate continuously, but only
during weekdays.

There will be a temporary reduction in the workforce by approximately 50 per
cent to some 30 employees. The Company expects these measures will contribute to
the future profitability of its operations and the return to full production.
Cash Cost is estimated to be reduced significantly. The relatively lower grade
areas will be left secured and mined when the gold price turns upwards.

It is the Company's view that the current working capital is not sufficient for
the upcoming twelve months to operate the business. 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.

As earlier informed, a rights issue of no less than MSEK 28 net (MEUR 3) is a
requirement under the Company’s loan agreement with Nordea Bank, entered into on
29 October 2015.

The proceeds from the Issue shall, besides a strengthening of the Company's
liquidity and financial base, be utilized for Selective Mining and simultaneous
exploration in Pampalo and its vicinity and thus create increased production
along the Karelian Gold Line.

Terms and conditions of the Issue

On the record day for the Issue, shareholders in the Company will for each share
held in the Company receive three (3) subscription rights. One (1) subscription
right entitles to subscription of one (1) share for SEK 0.09. The Issue
comprises in total a maximum of 786,470,625 shares. The subscription price will
be re-calculated to euro for the shares traded on Nasdaq Helsinki. The
subscription price in euro will be stated in the prospectus for the Issue, which
estimated to be made public on 23 December 2015.

The subscription period is estimated to be between 11-25 January 2016, or such
later date as resolved by the Board of Directors of the Company.

If the Issue is fully subscribed, the number of shares in Endomines will
increase by 786,470,625 to 1,048,627,500 shares in total. Shareholders choosing
not to participate in the Issue will have their respective holdings diluted by
75 per cent, upon full subscription of the Issue, but will have a possibility to
be economically compensated for the dilution effect by way of selling their
respective subscription rights.

As a condition for the Issue, the Board of Directors proposes that the
extraordinary general meeting resolves to decrease the shares’ current quota
value from SEK 1.00 to SEK 0.25. The share capital will thus be reduced by SEK
196,617,656.25 through a transfer to a funds for the disposal of the general
meeting. The share capital will then, following a fully subscribed Issue, be
restored through proceeds from the Issue and a transfer from the share premium
reserve. In the event the Issue would not be fully subscribed, additional funds
will be transferred to the share capital through a bonus issue, without the
issuance of new shares, with the effect that the share capital would be fully
restored. The above proposal for reduction of the share capital and the
resolution of the Issue also presupposes the extraordinary general meeting to
resolve on an adjustment of the Company’s articles of association in accordance
with the board of directors’ proposal.

The total Issue proceeds amounts to a maximum of approximately MSEK 70.8 at full
subscription.

The total Issue costs are estimated to approximately MSEK 3.7.

Additional information

The Issue is subject to the approval by the extraordinary general meeting in
Endomines. An extraordinary general meeting will be held on 17 December 2015, at
5:00 p.m. CET, at Finlandshuset Konferens, Snickarbacken 4, in Stockholm,
Sweden. A notice to the meeting will be made public through a separate press
release in Swedish today and will be available at the Company’s website
www.endomines.com in Swedish as from today, 17 November 2015. The notice will
also be made public in the Swedish Official Gazette (Sw. Post- och Inrikes
Tidningar) on Thursday, 19 November 2015, and, an announcement that the notice
has been made public will be published in the Swedish newspaper Svenska
Dagbladet.

Subscription undertakings

The Company has in connection with the Issue entered into subscription
undertakings with current shareholders corresponding to approximately eleven per
cent of the Issue.


Indicative timetable for the Issue

December  Extraordinary general meeting to approve the Board of Director's
17, 2015  resolution on the Issue
December  Last trading day including subscription rights
17, 2015
December  First trading day excluding the subscription rights
18, 2015
December  The record date for participating in the Issue, i.e. shareholders
21, 2015  that are registered in the share register on this date will receive
          subscription rights that entitle them to participate in the Issue
December  Estimated date for publication of the prospectus
23, 2015
January   Trading in subscription rights on Nasdaq Stockholm and Nasdaq
11-21,    Helsinki
2016
January   Subscription period with and without subscription rights
11-25,
2016
January   Publication of the Issue’s preliminary outcome
29, 2016

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 8:45 a.m. CET on November 17, 2015.

About Endomines:

Endomines conducts exploration and mining business along the 40 kilometer long
Karelian Gold Line. Through various regulatory approvals, Endomines controls the
exploration rights to this entire area.

The Company’s first mine, Pampalo, started in February 2011. During 2014,
Endomines initiated the production of ore from the mine in Rämepuro. The ore
from satellite mines will be processed in the centrally located mill at Pampalo.

The Company’s operations are based on sustainable principles and on minimizing
the impact on the environment.

Endomines applies SveMin's & FinnMin's respective rules for reporting for 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.

Endomines vision is to participate in the future structural transformation and
consolidation of the Nordic mining industry. The Company may therefore be
involved in acquisitions of interesting deposits or companies, should such
opportunities arise.

The shares of Endomines AB are quoted on Nasdaq Stockholm under ticker ENDO and
on Nasdaq Helsinki under ticker ENDOM. The Liquidity Provider in both Stockholm
and Helsinki is Erik Penser Bankaktiebolag.

Important information

This press release may contain forward-looking statements and assumptions which
address future events and conditions, which are subject to various risks and
uncertainties. Actual events and results could differ materially from such
statements as a result of risks and other factors that would influence the
Company’s business, 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 and assumptions 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 the
statements.

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 Australia, Canada, Hong Kong, Japan, New Zealand,
Singapore, South Africa or the United States 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 subscription rights, paid subscribed shares
or new shares in Endomines AB (publ). An invitation for interested persons to
subscribe for shares in Endomines AB (publ) will only be made through the
prospectus that Endomines AB (publ) intends to publish on or about December 23,
2015.

Neither the subscription rights, paid subscribed shares or new shares 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.