Inside Information: Endomines identifies four new gold targets at Ukkolanvaara

Endomines Finland Plc – Inside information – 13/5/2026, at 10:35 EEST 

Inside Information: Endomines identifies four new gold targets at Ukkolanvaara

Endomines Finland Plc reports significant new drilling discoveries at Ukkolanvaara on the Southern Gold Line. Last year, the company published promising results from the Ukko deposit located in the northern part of the area, and the results of a more extensive drilling programme carried out during the winter of 2025–2026 have now been completed. Based on these results, four new gold-bearing targets have been identified at Ukkolanvaara. In addition, the close proximity of the zones supports the interpretation of a large and continuous gold-mineralized system.

Drilling carried out south of the Ukko deposit during autumn 2025 and winter 2026 delivered positive results from four new areas within the Ukkolanvaara iron formation. The first results from the program were published on 11 November 2025, when gold mineralisation was identified 5.8 km south of Ukko. The discovery of three additional zones between previously identified areas suggests that the gold-mineralized system may be considerably extensive.

A resource definition drilling program is currently ongoing at the Ukko deposit. The main objective of the winter 2026 drilling program has been to follow up on the thick and high-grade gold intercepts identified in drill hole UKKO-001 (published on 28 May 2025). The first three drill holes of the campaign intersected thick and highly gold-bearing zones, further confirming the significant potential of the Ukko deposit.

Drill hole UKKO-056 is located 235 metres northwest of UKKO-001. Drilling between these holes intersected similarly altered iron formation, where scattered visible gold grains were observed. This supports the interpretation of geological continuity of the gold mineralisation. In addition, drill hole UKKO-053 intersected a thick gold-mineralised zone 1.06 km south of drill hole UKKO-001, indicating the potentially substantial extent of the deposit.

The results of the 2026 drilling campaign will be used to support the preparation of the first mineral resource estimate for the Ukko deposit in the second half of 2026.

New highlights from the results of the Ukko drilling program:

• Drill hole UKKO-055 intersected 46.35 m @ 1.40 g/t gold from 162.85 m
  • Including 3.20 m @ 3.62 g/t gold from 165.80 m
  • Including 3.00 m @ 3.30 g/t gold from 184.60 m
  • Including 1.90 m @ 4.42 g/t gold from 192.40 m
  • Including 0.80 m @ 2.96 g/t gold from 197.00 m
  • Including 1.10 m @ 3.79 g/t gold from 208.10 m
• Drill hole UKKO-054 intersected 15.50 m @ 2.76 g/t gold from 47 m
  • Including 0.90 m @ 8.33 g/t gold from 47.90 m
  • Including 2.00 m @ 5.76 g/t gold from 54.60 m
• Drill hole UKKO-056 intersected 24.25 m @ 2.30 g/t gold from 176.60 m
  • Including 6.30 m @ 5.05 g/t gold from 181.00 m
    • Including 0.80 m @ 14.90 g/t gold from 182.80 m
  • Including 2.45 m @ 4.98 g/t gold from 190.95 m
• Drill hole UKKO-053 intersected 30.25 m @ 0.91 g/t gold from 27.75 m
  • Including 1.00 m @ 2.60 g/t gold from 30.85 m
  • Including 1.00 m @ 2.32 g/t gold from 36.95 m
  • Including 1.05 m @ 2.53 g/t gold from 51.40 m
  • Including 1.20 m @ 2.48 g/t gold from 55.70 m

“Our exploration team continues to deliver strong results. We believe we have once again made a highly significant discovery at Ukkolanvaara. Recent drilling has yielded additional excellent gold intercepts near the original discovery site of the Ukko deposit. The results confirm the continuity of gold mineralisation in the northern part of Ukko and significantly expand the size of the deposit,” comments Kari Vyhtinen, CEO of the Company.

“At the same time, we have identified new prospective gold areas further to the south, indicating the presence of a wide gold-mineralised system. These new zones could potentially multiply Ukko’s overall potential. Ukko will remain Endomines’ primary exploration target in the near term. I look forward to the next results, which we expect to publish during the summer of 2026,” Vyhtinen continues.

The significant drill intersections from the UKKO drill holes are presented in Table 1 and the location of the exploration drill holes are presented in the map (Figure 1).

Exploration activities in Ukkolanvaara

In 2026, a total of 52 drill holes have been completed at Ukkolanvaara, with a combined length of 11,517 metres. Drilling is still ongoing, and assay results for 47 drill holes are pending. Due to its significant potential, Ukkolanvaara has now become the company’s primary exploration target, with the majority of 2026 drilling, geophysical surveys and geological mapping focused on the area.

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. 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 34 out of 52 drill holes at Ukkolanvaara.

Drilling technology and quality assurance  

All surface drilling has been carried out by 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. All coordinates and maps used in this release reflect planned coordinates. 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 Palsatech Oy in Kemi or Sodankylä prior to the shipping to CRS’ laboratory in Kempele. Samples were sent to CRS' laboratory in Kempele for preparation (code PRP-929) and then sent to MS Analytical laboratory in Langley, Canada, where samples were analyzed by methods FAS-111 (Gold), and IMS-230 (multi element). Gold over 10 g/t was re-analysed with FAS-415 .

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 controlled 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. We are a growing mining company that embraces new ways of thinking; we want to leave a positive footprint where we operate, which is why our goal 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.