Inside Information: Endomines' Ukkolanvaara drilling results continue to demonstrate strong potential - known strike length of the UKKO deposit has expanded to 650 metres

Endomines Finland Plc – Inside information – 30/7/ 2026, at 10:45 EEST 

Inside Information: Endomines’ Ukkolanvaara drilling results continue to demonstrate strong potential – known strike length of the UKKO deposit has expanded to 650 metres

Based on Endomines Finland Plc’s latest drilling results, the known strike length of the UKKO deposit discovered at Ukkolanvaara in 2025 has expanded to 650 metres. The drilling program carried out during 2026 has further strengthened the view that the area hosts a gold-rich and thick gold deposit close to surface. The results indicate that the gold mineralization remains open both along strike and at depth.

Drill holes completed during the summer in the northwestern part of the deposit, UKKO-077, UKKO-087 and UKKO-093, all intersected thick, gold-mineralized iron formation. Strong results were also obtained south of the discovery hole, UKKO-001. Drill holes UKKO-079, UKKO-085, UKKO-086, UKKO-088, UKKO-089 and UKKO-096 each intersected significant gold-mineralized zones near surface.

Highlights of the latest Ukkolanvaara drilling results

• Drill hole UKKO-087 intersected 44.85 m @ 2.27 g/t gold from 164.30 m
  • Including 1.80 m @ 4.92 g/t gold from 168.30 m
  • Including 4.70 m @ 5.50 g/t gold from 175.95 m
  • Including 0.90 m @ 4.83 g/t gold from 183.70 m
  • Including 2.70 m @ 5.20 g/t gold from 189.40 m
  • Including 1.90 m @ 4.92 g/t gold from 195.00 m
  • Including 2.85 m @ 4.75 g/t gold from 199.95 m
  • Including 0.80 m @ 5.19 g/t gold from 208.35 m
  • Including 1.20 m @ 4.73 g/t gold from 153.25 m
• Drill hole UKKO-087 also intersected 8.05 m @ 2.17 g/t gold from 144.35 m 
  

  • including 2.05 m at 4.59 g/t gold from 149.15 m
• Drill hole UKKO-077 intersected 19.40 m @ 4.33 g/t gold from 187.45 m

  • Including 6.95 m @ 8.67 g/t gold from 188.50 m
  • Including 0.95 m @ 19.30 g/t gold from 188.50 m
• Drill hole UKKO-086 intersected 36.10 m @ 1.11 g/t gold from 85.00 m
  • Including 8.10 m @ 2.29 g/t gold from 88.80 m
  • Including 1.00 m @ 3.01 g/t gold from 109.00 m
  • Including 4.00 m @ 2.67 g/t gold from 113.25m
• Drill hole UKKO-085 intersected 33.85 m @ 1.17 g/t gold from 165.95 m
  • Including 0.80 m @ 4.02 g/t gold from 165.95 m
  • Including 1.85 m @ 2.37 g/t gold from 172.35 m
  • Including 8.55 m @ 2.42 g/t gold from 191.25 m
• Drill hole UKKO-093 intersected 13.95 m @ 2.59 g/t gold from 218.30 m
  • Including 4.95 m @ 6.40 g/t gold from 225.15 m
    • Including 0.80 m @ 13.70 g/t gold from 227.70 m
• Drill hole UKKO-093 intersected 31.95 m @ 1.01 g/t gold from 247.65 m
  • Including 5.15 m @ 2.57 g/t gold from 250.25 m
  • Including 0.85 m @ 2.69 g/t gold from 258.75 m
  • Including 4.70 m @ 2.12 g/t gold from 273.90 m

“The results obtained from Ukkolanvaara to date rank among the best in the industry even by international standards and are also unique within the Karelian Gold Line. The results of our drilling programs have strengthened our understanding of the size, continuity and quality of the UKKO deposit. The considerable thickness of the deposit and the near-surface nature of the mineralization make it a highly attractive development project and a potential future mining operation. The maiden Mineral Resource Estimate, which is expected to be published within the next 5–7 months, will provide tangible visibility into the scale of the deposit,” commented Kari Vyhtinen, CEO of the Company.

The significant drill intersections from the Ukkolanvaara drilling program are presented in Attachment 1, and the location of the exploration drill holes are presented in Attachment 2.

Ukkolanvaara – Endomines’ Most Important Exploration Target

The UKKO deposit, discovered in 2025, has become the primary focus of Endomines’ exploration activities. Since the discovery, successive drilling programs have systematically improved the company’s understanding of the deposit’s scale, geometry and geological characteristics.

Endomines is allocating the majority of its 2026 drilling, geophysical surveys and geological mapping efforts to the Ukkolanvaara area. At the same time, the company is evaluating various development alternatives for potential future mining operations.

During 2026, a total of 70 drill holes have been completed at Ukkolanvaara to date, representing an aggregate drilling length of 16,499 metres. Drilling activities are ongoing, and assay results are still pending for 20 drill holes.

Endomines is targeting completion of the maiden Mineral Resource Estimate for Ukkolanvaara by late 2026 or early 2027.

Geology of Ukkolanvaara

The most intense gold mineralization has been observed within tightly folded iron formation (BIF, Banded Iron Formation) where pyrrhotite replaces magnetite bands. Similar BIF-type gold mineralisation also occurs in other Archean greenstone belts, such as those found in Australia and Canada.

The alteration halo around the gold mineralization includes chlorite, carbonates, garnets, grunerite and iron sulphides, chiefly pyrrhotite. In 2026, visible gold grains have been observed in 46 out of 70 drill holes at Ukkolanvaara.

Drilling technology and quality assurance  

All surface drilling has been carried out by drilling contractor MK Core Drilling Oy, using WL-76 tubes, resulting in a core of 57.5 mm in diameter. Drill hole locations will be surveyed after completion of the drilling program. A downhole survey of bearing and dip deviations has been completed with the DeviFlex survey tool. All cores have been oriented with the Reflex ACT3 equipment.

The drill cores have been logged by Endomines own personnel. The drill cores have been cut in half by geological services company Palsatech Oy prior to the shipping to CRS Laboratories Oy in Kempele. The samples were prepared using PRP-929 method and then sent to MS Analytical laboratory in Canada for analysis. Gold assays were determined using the FAS-111 method, while multi-element analyses were conducted using the IMS-230 method. Samples returning gold grades exceeding 10 g/t Au were re-assayed using FAS-415 method.

Normal QA/QC (Quality Assurance/Quality Control) procedures have been adhered to on all the samples, with standards, blanks and duplicates routinely submitted as part of the sampling program. The quality of sample preparation, security integrity and chemical assays was equal to, or exceeded, current industrial standards and the requirements of the JORC-code.  

This statement has been prepared and approved by Eurogeologist Jani Rautio MSc. (Geol) acting as a Qualified Person in compliance with the Fennoscandian Association for Metals and Mining Professionals (FAMMP) -standards. Jani Rautio is a full-time employee of Endomines and owns 9,624 shares in Endomines.

Further information: 

Kari Vyhtinen  
CEO  
kari.vyhtinen@endomines.com  
+358 40 585 0050  

Jani Rautio  
Chief Technical Officer  
jani.rautio@endomines.com  
+358 50 593 0812  

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our mining operations in Pampalo, Ilomantsi region, focus on gold mining and processing, as well as exploration in the Karelian Gold Line, in Eastern Finland. We produce gold for the jewellery and electronics industries and create value by transforming natural resources into wealth, an investment that withstands the volatility of global politics. Our vision is to grow the Karelian Gold Line into a significant, sustainable gold-producing region. Endomines is listed on the main list of OMX Helsinki (PAMPALO). www.endomines.com.  

The Karelian Gold Line is 40 kilometers long, a gold prospective portion of the Ilomantsi greenstone belt located in Eastern Finland approximately 500 kilometers northeast of Helsinki. The area hosts several gold deposits, the largest known being Pampalo. Endomines controls extensively exploration rights across the Karelian Gold Line.

Ukkolanvaara is located along the Karelian Gold Line in North Karelia, Finland. Endomines discovered the UKKO gold mineralization in 2025, after which extensive drilling programs have been carried out to define the size, continuity and geological characteristics of the deposit. Ukkolanvaara is currently Endomines’ primary exploration target and one of the company’s most important growth projects.