Lappland Goldminers AB acquires Blaikengruvan AB from ScanMining AB and guarantees composition settlement

Lappland Goldminers AB has made a conditional agreement with
ScanMining AB and ScanMining AB's subsidiary, Blaikengruvan AB, and
their bank. The agreement means, among other things, that Lappland
Goldminers acquires ScanMining AB's subsidiary Blaikengruvan AB for
one (1) SEK and guarantees a 25% composition settlement for the
unprioritized creditors in Blaikengruvan AB and ScanMining AB.

The agreement means that Lappland Goldminers injects capital, and
that the bank makes certain claim concessions. A necessary requisite
for completing the agreement, however, is that the payoff composition
arrangements for ScanMining AB and Blaikengruvan AB are presented no
later than November 23, 2007. If this requirement is not fulfilled,
the only remaining alternative is probably bankruptcy.

Lappland Goldminers intends to resume the operation of Blaikenverket,
once the requirements for the agreement are fulfilled.

Lappland Goldminers has made a loan to ScanMining AB's subsidiary
ScanMining OY which owns the Pahtavaara mine. If the requirements for
the agreement are fulfilled Lappland Goldminers will also acquire
this company, including the Pahtavaara mine.

If the requirements for the agreement are fulfilled Lappland
Goldminers will acquire ScanMining's all operations. Lappland
Goldminers is also investigating the possibility of - given that the
requirements for the agreement have been fulfilled - making a
takeover offer to the shareholders in ScanMining AB. Such offer would
include a share for share offer.

See also ScanMining AB's simultaneous press release. For further
information about ScanMining, refer to Scan Mining AB's webb site
www.scanmining.se

About Lappland Goldminers AB
Lappland Goldminers AB is an exploration company, with the goal of
becoming a producing mining company. The company is listed on the
market place "First North" under the name GOLD, with Mangold
Fondkommision AB as the Certified Adviser, 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 gold company with a centrally located processing plant in
Fäboliden, Sweden, and in the Haveri area in Finland, which is
supported by ore from one or several mines either through the
Company's own exploration or alternatively through acquisitions..


For additional information about Lappland Goldminers, please contact:


Karl-Åke Johansson, CEO                    Tomas Björklund, Director
Ph. +46 950-275 01, +46 70-625 22 57       Ph. +46 70-662 35 35
karl-ake.johansson@lgold.se                tomas.bjorklund@lgold.se

Or see Lappland Goldminers' web site       www.lapplandgoldminers.com
at:
About Mangold Fondkommision:               www.mangold.se