Exploration during 2012 has successfully replaced almost all the Ore reserve mined

Endomines is making a public announcement of its updated ore reserves and
mineral resource estimates. The estimates have been prepared according to the
2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves
(Joint Ore Reserve Committee - JORC-code). The updates have been prepared by
external professional consultants at Outotec (Finland) Oy, JK-Kaivossuunnittelu
Oy and in house Endomines. The update represents the Pampalo production
situation as at 31stDecember 2012.

“The Pampalo mine gold production in 2012 was 867 kg but the total contained
gold in the Pampalo ore reserves was reduced only by 235 kg. This is the result
of successful continuous mine site exploration which during 2012 nearly replaced
the mined ore reserves” comments Markus Ekberg, CEO of
Endomines.

Table: Gold ore reserves and resources along the Karelian Gold Line 31 December
2012:

[image]

Note: Reserves and Resources reported according the JORC-code(except
Kuittila), all figures independently rounded
Stockpile estimate by Endomines
Pampalo 2013 resource/reserve estimate by Endomines Oy, controlled and signed
by Outotec (Finland) Oy; cut-off 1 /gt. Mining situation as 31st Jan 2012
Waste Rock Dilution 15%, Ore losses: drifting 0 %, stoping 12 % and stoping
nearby talc chlorite rock 25 %
Pampalo East resources estimate by Outotec (Finland) Oy / Reserve estimate JK
-Kaivossuunnittelu: Cut-off: 1,0 g/t; 10% Ore loss 10%, dilution 15%
Rämepuro resource/reserve estimate by Outotec (Finland) Oy: Cut-off 1,0 g/t,
ore loss 10%, waste rock dilution 20%
Maptek Hosko and Rämepuro estimates: cut-off 0,5 g/t; ore loss 5%, dilution
15%
Maptek Muurinsuo estimate:   cut-off 1,0 g/t; ore loss 5%, dilution 15%
Appropriate Top cut applied for the resource/reserve estimates - details in
the summary reports on the website
Troy ounce = 31,1035

Summary reports of the Pampalo, Rämepuro and Korvilansuo estimates will be made
available on the company's web site www.endomines.com in due course.

“Several improvements have been implemented throughout the mining process at
Pampalo which have resulted in improvements in mining recovery and waste rock
dilution. Pampalo ore reserve grade has thus increased from the figures for the
previous year. A reduction in grade for the Rämepuro ore reserve estimate is due
to new interpretation and lower relative weighing of several of the high grade
intersections from drill holes in the deeper parts of the mineralization, “
comments Markus Ekberg, CEO of Endomines AB.

A new resource estimate has been prepared for Korvilansuo. Although the resource
estimate is relatively modest at this stage, we should keep in mind that
drilling has so far been concentrated within a limited part of the target area.

Within the Korvilansuo-Elinsuo-Muurinsuo-area all of the results so far obtained
support our firm conviction that this area has a real potential for growing into
a significant and successful gold project. The area has all the typical
characteristics of an Archean greenstone-hosted gold province. We believe that
the Kuittila tonalite intrusion played a key role as driver of heat and fluid
circulation, when it intruded the surrounding sediments and volcanics. Later
stages of the process concentrated gold within country rock lithologies adjacent
to the intrusion, in areas with favourable pressure and temperature. The area is
thus a textbook example of intrusive-related orogenic gold mineralization.

“We are only at beginning of our exploration program but what is encouraging us,
is that we already have three clearly defined mineralization targets surrounding
the Kuittila-tonalite", comments Endomines CEO Markus Ekberg.

This statement has been controlled by Jaakko Liikanen (MSc Geol) acting as a
Qualified Person in compliance with SveMin-FinnMin rules. He owns 1,120,892
(1.41%) Endomines AB shares and is employed by the Company as Chief Technical
Officer.

For further information, please contact:
Markus Ekberg
CEO of Endomines AB
tel. +358 40 706 48 50

or visit the Company´s website 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 March 18, 2013.

About Endomines AB:

Endomines AB is a Nordic mining and exploration company with its first operating
gold mine in production since February 2011. The mine is located in Eastern
Finland, on the Karelian Gold Line, a 40 km long gold critical belt, where
Endomines controls all currently known gold deposits.

The company has several other gold and industrial mineral properties at various
stages of development. All Endomines’ mineral assets are located in Finland,
which is politically stable, has a highly developed infrastructure and is ranked
as one of the most favorable jurisdictions for the mining industry.

Endomines aims to increase shareholder value by developing its strong portfolio
of assets, as well as exploring new deposits on the Karelian Gold Line and in
Finnish Lapland. The company will also consider new opportunities and
acquisitions for further growth.

The company’s business practices and mining operations are based on sustainable
principles and on minimizing the impact on the environment.

Endomines applies SveMin's&FinnMin's respective rules for reporting (public
mining & exploration companies). It has also 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.ST. Pareto Öhman acts as Liquidity Provider.

Read more about Endomines on www.endomines.com

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This news release may contain forward-looking statements, which address future
events and conditions, which are subject to various risks and uncertainties. The
Company's actual results, programs and financial position could differ
materially from those anticipated in such forward-looking statements as a result
of numerous factors, 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 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 forward-looking statements.