Extraordinary General Meeting of Endomines AB (publ) on 17 December 2015

The Extraordinary General Meeting (the “EGM”) of shareholders of Endomines AB
(publ) was held on 17 December 2015.

Amendment of articles of association
To enable the reduction of the share capital resolved on below, the EGM resolved
to adopt new articles of association, where the limits of the share capital in §
4 in the articles of association were amended.

Reduction of the share capital
The EGM resolved to reduce the share capital with SEK 196,617,656.25, without
redemption of shares, whereby the quota value of the shares reduces from SEK
1.00 to SEK 0.25. The reduction amount shall be transferred to a fund to be used
pursuant to a resolution by the general meeting.

Amendment of articles of association
To enable the resolution by the Board of Directors on a rights issue of shares,
which has been approved by the EGM in accordance with the below, the EGM
resolved to adopt new articles of association, where the limits of the share
capital as well as the limits regarding the number of shares in § 4 and § 5 in
the articles of association were amended.

Approval of the resolution by the Board of Directors on rights issue of shares
The EGM resolved to approve the resolution by the Board of Directors as of 16
November 2015 on a rights issue of a maximum of 786,470,625 shares, whereby the
share capital would increase with a maximum of SEK 196,617,656.25. The following
terms and conditions apply to the rights issue:

Right to subscription
Shareholders of the company who are registered as shareholders on the record
date for the rights issue, 21 December 2015, have pre-emption right to subscribe
for shares, whereby such shareholders for each on the record date held share
entitles to three (3) subscription rights. To subscribe for one (1) share with
such subscription right, one (1) subscription right is required.

Subscription price, subscription and payment
The subscription price amounts to SEK 0.09 per share. The subscription price
converted into EUR, for the shareholders who have their shares registered in
Finland, will be announced in the prospectus for the rights issue, which is
estimated to be made public on 23 December 2015. Subscription of shares shall
take place during the period 11-25 January 2015. Shares which are subscribed for
by exercising subscription rights are subscribed for through payment and shares
which are subscribed for without subscription rights are subscribed for on a
special subscription form and shall be paid no later than three business days
following notification of allotment. The Board of Directors is entitled to
extend the subscription period and the payment date.

Dividend
The new shares in the company entitle to dividend on the record day for the
dividend that is resolved upon immediately following the registration of the
rights issue.

Transfer from non-restricted equity to share capital
Since the subscription price in the rights issue corresponds to SEK 0.09 per
subscribed share, which is below the quota value of the share, the difference
between the subscription price and the quota value shall, in accordance with the
Swedish Companies Act (2005:551), be covered through a transfer to the share
capital from the company’s non-restricted equity so that the share capital,
through the rights issue and transfer from the non-restricted equity, in total
is increased with an amount corresponding to the quota value for each
subscribed, allotted and paid share. This means that a maximum of SEK
125,835,300 may be transferred from the company’s non-restricted equity to the
share capital.

Bonus issue
The EGM resolved on a bonus issue whereby the share capital of the company is
increased with SEK 176,955,890.75 by the transfer of funds from non-restricted
equity. The bonus issue is effected without issuance of new shares.

Reduction of the share capital
The EGM resolved to reduce the share capital with a maximum of SEK
176,955,890.75, without retirement of shares, for transfer to a fund to be used
pursuant to a resolution by the general meeting. The amount of the reduction
shall be determined to an amount in SEK corresponding to the amount of the
increase of the share capital in accordance with the resolutions on the rights
issue of shares and the bonus issue in accordance with the above, deducted with
the amount of the reduction in accordance with the resolution above.

In the event the amount of the reduction of the share capital corresponds to the
amount which the share capital shall be increased with by the bonus issue, the
resolutions on the reduction of the share capital and the bonus issue shall not
be submitted to the Swedish Companies Registration Office for registration.

For further information please contact:
Markus Ekberg, CEO of Endomines AB, tel. +358 40 706 48 50
Staffan Simberg, Chairman of the Board of Endomines AB, tel. +358 50 020 92 16

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.

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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 0830 CET on 18 December 2015.