Lappland Goldminers has purchased a used mill for the future plant in Fäboliden. During work with the feasibility study, we decided to add one more milling stage, as compared to the pre-feasibility study published earlier. This additional milling stage will increase the recovery in the process by 3-4% up to around 90%, and will increase the revenue from the project at current gold prices by around 25 MSEK/year. We are very happy to be able to buy high quality used equipment at a price below a million kronor, in these times of steadily rising prices on mining equipment. The mill, which is from the closed-down processing plant of Boliden in Laisvall, has been inspected by Industriteknik Nord AB, who has many years of experience in maintenance and operating of mining equipment under Swedish conditions. Industriteknik has also been given the assignment of bringing the mill up to being operational. The work with the feasibility study is still continuing, and is expected to be completed during the next month, says Karl-Åke Johansson, CEO. About Fäboliden Fäboliden, the Company's "flagship" and largest deposit, is located on the Gold Line in the municipality of Lycksele. The company will establish a central processing plant in this location, for the purpose of extracting gold and silver, with an annual capacity of 5 million tons of ore. The facility is built to concentrate ores from the Gold Line, and the end product is doré bars to be sold. About the Company Lappland Goldminers AB is an exploration company with the goal of becoming a producing mining company, striving for environmentally friendly, "green", solutions. The company is listed on the market place "First North" under the name GOLD, with Mangold Fondkommision AB as the Certified Advisor, as well as the OTC list of the Oslo exchange. Lappland Goldminers has secured a number of gold deposits along the so-called Guldlinjen ("The Gold Line") in Västerbotten. The company's strategy is to develop a profitable, producing mining company with centrally located processing plants in Fäboliden in Sweden and in the Haveri area in Finland, which are supplied with ore from one or several mines through the company's own exploration, or alternatively through acquisitions. The company is a member of SveMin, the trade association for mines, minerals and metal producers in Sweden (formerly called the Swedish Mining Association) and follows SveMin's reporting rules for public mining and exploration companies. For additional information about Lappland Goldminers, please contact: Karl-Åke Johansson, CEO Tomas Björklund, Board Member Ph. 0 950 275 01, 0 70,625 22 57 Ph. 070 662 35 35 karl-ake.johansson@lgold.se tomas.bjorklund@lgold.se Or visit our web site at: www.lapplandgoldminers.com The full press release can be downloaded from the following link:
Lappland Goldminers places the first order for the Fäboliden Processing Plant.
| Source: Lappland Goldminers AB