Endomines has reached an agreement to prolong repayment of its bank loans

Endomines fully owned subsidiary Endomines Oy has reached an agreement with its
lender Nordea Bank Finland Plc (“Nordea”).

The principal terms of the agreement are as follows:

As earlier announced the Company closed all of its gold price hedges on 9
October 2015. In connection with the closing a short-term loan of 26.3 MSEK
(2,790 KEUR) was obtained.

As of today, the short-term loan will be converted into a long-term loan. The
payback of the project financing of 45.2 MSEK (4,800 KEUR) will be prolonged
from earlier 2016-2017 to 2018-2019. Both loans, totalling 71.5 MSEK (7,590
KEUR) will be repaid after a grace period 2015-2017 in the years 2018-2019. A
fixed amount of 940 KSEK (100 KEUR) is paid quarterly starting in the first
quarter of 2018 and a variable amount in the form of a cash sweep every six
months starting in the second quarter of 2018. The cash sweep is 40 per cent of
an adjusted cash flow for a 12 months period (four calendar quarters) or a 6
months period (two calendar quarters) before the payback date. The adjusted cash
flow is based on reported Ebitda of Endomines Oy less interest paid and
investments actually made.

Furthermore, the agreement included changes in loan covenants to reflect the
changes in loan maturities.

The Board will propose to the general meeting of shareholders to resolve upon a
rights issue in the Company of approximately 60 MSEK net, of which 28 MSEK (3
MEUR) is a requirement under the agreement with Nordea. The rights issue shall
be completed before the end of Q1 2016, at the latest. Detailed issue terms etc.
will be presented in a separate notice to a shareholders’ meeting as soon as the
Board has determined the proposed terms for the rights issue, however not later
than 15 December 2015. The purpose with the equity issue is to finance further
investments in exploration and mine development.

“By this agreement Nordea shows continued confidence in Endomines. Furthermore,
the agreement, in combination with the recent closing of the hedge, is an
important milestone in the financing of the operations. We now have the
principal conditions to develop the recent discovered high grade mineralizations
and to continue the long term investments in the mine”, comments Markus Ekberg,
CEO of Endomines AB.

For further information, please contact:
Markus Ekberg, CEO of Endomines AB, tel. +358 40 706 48 50
alternatively, visit the Company´s home page: 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 CEST on October 28, 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 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 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.

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