Gold Mining & Exporation Company – Positioned for Responsible Growth - Markus Ekberg, CEO, Endomines Mining On Top: Helsinki 16-17 September 2013 | Helsinki

1. Gold Mining
& Exporation
Company –
Positioned for
Responsible Growth
Mining on Top
Helsinki 17th Sept 2013
CEO Markus Ekberg
Gold concentrate at Pampalo flotation circuit

2. 2
Disclaimer
Statements in this presentation which are not purely historical facts, including
without limitation statements regarding future estimates, plans, objectives,
assumptions or expectations of future performance are “forward-looking
statements”. Investors are advised that by their nature as visual aids,
presentations provide information in a summary form and are prepared as a
presenter’s aid and support - not a standalone document.
Please note that such “forward-looking statements” involve known and
unknown risks and uncertainties that could cause actual results and future
events to differ materially from those anticipated in such statements. Such risks
and uncertainties include fluctuations in metal prices, unpredictable results of
exploration activities, uncertainties inherent in the estimation of mineral
reserves and resources, fluctuations in the costs of goods and services,
problems associated with exploration and mining operations, changes in legal,
social or political conditions in Finland, and lack of appropriate funding, all of
which could among other things, prevent any of the forward looking statements
in this presentation from coming to fruition or lead to a delay in the
commencement of mining operations.

3. Company highlights
3
 Pampalo Gold Mine construction completed in December 2010 on schedule and
in line with the budget of €20 million
 Gold production of 867 kg in 2012 within target of 800-900 kg for the year, with
an average head grade of 4.0 g/tonne
 The Company focuses on gold production in Pampalo Gold Mine and
exploration of satellites along the Karelian Gold Line
 All of the Company’s industrial mineral deposits have been divested or are
undergoing divestment
 The plant in Pampalo is centrally located in the Karelian Gold Line close enough to
process ore from all the Company’s satellites in the area
 The ore processing capacity has been increased from 270,000 tonnes/annum to
450,000 tonnes/annum in order to be ready to process ore from satellite mines along
the Karelian Gold Line
 Endomines runs an extensive exploration program along the KGL (~€1.5 million in
2013)
 During 2011, the Company made an interesting discovery – the new Korvilansuo gold
deposit. 2012 drillings returned unexpectedly good results and Korvilansuo is the
main focus for exploration 2013
 Exploration update 2013 – 61 holes drilled, 90% returned gold intersections
 Endomines is convinced that the current exploration program will increase
resources and reserves
Operations in line
with schedule
Strict focus on
gold going
forward
Well located plant
with increased
capacity
Great exploration
potential

4. 4
Endomines Group in brief
A Swedish mining and exploration company with operations in
Finland
Listed on NASDAQ OMX Stockholm since 7 November 2012 (IPO
on First North in 2007)
Secondary listing in Helsinki May 2013
Gold concentrate production in Pampalo since February 2011
Exploration focused on Karelian Gold Line
More distinct focus on gold going forward
Ilmenite deposits divestment ongoing with Cove Resources Ltd
Divestment of calcite deposits completed in November 2012
Gold production of 867 kg in 2012 (616 kg in 2011) in line with
target of 800-900 kg
Guidance for 2013 is 800-900 kg
Proven and probable ore reserves total 1,4 Mt with an average gold
grade of 3.9 g/t (5 500kg, 175 000 oz) gold
Gold price hedged in December 2009 at €843/oz (~$1,200/oz)
63,400 oz (1,937 kg) remaining up to 2016
Endomines Oy
Gold deposits Ilmenite deposits
Endomines AB (publ.)
Kalvinit Oy
24-Sep-13
Pampalo
Karelian
Gold Line
Helsinki
Ilmenite
(ongoing divestment)
Kivimaa
Porkonen
Finland
Gold
Industrial mineral

5. 2006
The Endomines
group was
founded through
consolidation of
Endomines Oy
and Kalvinit Oy
that both had
been operating
since the middle
of the 1990’s
SEK 85 million
through two share
issues
2007
SEK 87
million
through share
issue
IPO on
NASDAQ
OMX First
North
2012
Listing on
NASDAQ
OMX
Stockholm
2009
Decision to
start mine
construction in
October
2010
Pampalo Gold
Mine project
completed in
December - on
schedule and in
line with budget
2011
Gold
production in
Pampalo
commenced
in February
616 kg gold
produced
2009
SEK 287 million
through rights
issue, bank loan
and government
subsidy
Gold production
of 867 kg in 2012
in line with
guidance of 800-
900 kg – guidance
for 2013 is 800-
900 kg
Processing
capacity increase
from 270,000 to
380,000 tonnes
per annum
– final permit
expected during
summer 2013
2006
Acquisition of
Pampalo
mining
concession
2010
SEK 30
million
through
exercised
warrants
Successful track record
5

6. 7
The Endomines share
Share price and trading development
August 26, 2009 through August 26, 2013
24-Sep-13
USA
0,2%
Endomines
OMXSPI
Market cap:
~ 500 MSEK, 67 MUSD
Company shareholders as of July 31, 2013 *)
Shareholder name Number of shares %
FÖRSÄKRINGSAKTIEBOLAGET, AVANZA PENSION10 307 601 11,8%
SVENSKA HANDELSBANKEN MARKETS 8 470 100 9,7%
SUOMEN TEOLLISUUSSIJOITUS OY 6 372 227 7,3%
YGGDRASIL AB 6 289 180 7,2%
NORDEA BANK FINLAND ABP 4 407 155 5,0%
ILMARINEN MUTUAL PENSION INSURANCE COMPANY3 400 000 3,9%
NORDNET PENSIONSFÖRSÄKRING AB 2 878 658 3,3%
LINDBORG, TIMO 2 340 056 2,7% **)
ÅLANDSBANKEN AB, W8IMY 1 734 484 2,0%
SKANDINAVISKA ENSKILDA BANKEN S.A., W8IMY 1 275 000 1,5%
JPM CHASE NA 1 150 000 1,3%
GOLDMAN SACHS INTERNATIONAL LTD, W8IMY 1 139 183 1,3%
LIIKANEN, JAAKKO 1 120 892 1,3% **)
WIP HAKKAPELIITAT SIJOITUSRAHAS 1 000 000 1,1%
STRÖMMAN INTERNATIONAL AB 989 300 1,1%
CBLDN-POHJOLA BANK PLC CLIENT A/C 925 556 1,1%
SVEA EKONOMI AB 906 660 1,0%
RUNESSON, PAULA 646 530 0,7%
SEB LIFE INTERNATIONAL, ASS. COMPANY LIMITED 611 868 0.7%
FRIENDS PROVIDENT INTERNATIONAL LTD 587 803 0,7%
TRUSTOR AB 500 000 0.6%
STAFFAN SIMBERG 500 000 0.6% **)
CATELLA BANK S A 488 312 0.6%
BANQUE CARNEGIE LUXEMBOURG SA 483 298 0.6%
58 523 863 67,0%
Other shareholders 28 861 762 33,0%
TOTAL 87 385 625 100,0%
Extracted from Euroclear-Sweden
**) Insiders, including indirect holdings:
LINDBORG, TIMO 2 340 056 2,7%
LIIKANEN, JAAKKO 1 120 892 1,3%
SIMBERG STAFFAN 500 000 0,6%
Other insiders 82 380 0,1%
TOTAL INSIDER HOLDINGS 4 043 328 4,6%
Complete insider list is available on www.fi.se

7. Pampalo in brief
8
Gold mine and processing plant centrally
located in the Karelian Gold Line
Discovery in 1990 by Geological Survey of
Finland
Intensive exploration and test mining by
Outokumpu Oyj between 1995 and 1999
Endomines acquired Pampalo from
Dragon Mining NL (Australia) in 2006
Total investment of €20 million in line with
the budget
Commercial production commenced in
February 2011 as scheduled
The plant produces two types of
concentrate – gravimetric and flotation
Plant capacity expansion has been
completed – annualized 380 - 420 000 tpa
Currently employing 80 own and 30
contractors – 70 percent locals

8. Pampalo production development
10
All long term strategic plans have been carried out consistently and successfully, on schedule as
well as within the budget
*) Endomines calculates ”Cash Cost” per ounce figures using the guidance issued by The Gold Institute Production Cost Standard. Direct
mining, ore processing and site administration, and off-site smelting and refining costs are included in the ”Cash Cost” calculation, but
amortization, stock change, reclamation, capital and exploration costs are excluded. The ”Cash Cost” is calculated per payable ounces
Gold produced and Cash Cost Ore mined and processed
0
200
400
600
800
1000
1200
0
50
100
150
200
250
300
Gold production kg
Cash Cost Rolling 12 months (USD/oz) *)
0
20 000
40 000
60 000
80 000
100 000
120 000
Mining Processing

9. S-3 depth 755m
2,55m@4,3g/t
S-1 depth 570m
6,8m @4,64 g/t
P-53 depth 330m
8,95m@3,36g/t
R-349 depth 220m
12,5m@7,67g/t
Pampalo
East
Pampalo Gold Mine
Pampalo Deeps –
exploration potential
Decline
down to 400 m
Area to be explored
Area to be explored

10. Pampalo mining principle
Backfilling
Raise
Drifting
Charging RC loading
Long hole drilling
Ore
20 m
Diamond
drill holes
with
assays
Cross section
Blasting rings
Horisontal pillar
Unconsolidated
backfill
Cable bolt
holes for
ground
support
CRF
Longitudinal
projection

11. Pampalo processing
Feeder
Crusher ore stockpile
Trucking
Grinding mill
Classification
Gravimetric
circuit
Gravimetric concentrate
20-50 % Au
Flotation concentrate
~4-6 000 t/a; 100-200 g/t
Au
Coarse fraction
Fines
Tailings Storage Facility
Mine
Drainage
Water
Classification
Crusher
• No cyanide or acid used
• No harmful material in tailings
• No Acid Mine Drainage (AMD)
• 100 % water recirculation
4th Sept 2012
Flotation

12. 15
Strong focus on Health-Safety-Environment
29-Apr-11
Average LTIFR in Finnish
mining industry was 25 for
the period 2008-2011
Own personnel 147
accident free days
Contactors 530 accident
free days
0
10
20
30
40
50
60
LTIFR
LTIFR= accident number / 1 000 000 working hour
Pampalo safety statistics - LTIFR
Endomines
Contractors
Total

13. Environmental permit end Regional Environmental
Impact Assessment
16
Local authorities have informed that Pampalo processing plant
capacity increase to 380,000 tonnes/annum has no effect on the
current environmental permit
Pampalo environmental permit renewal and capacity increase
application (up to 450,000 tonnes) was filed in February 2012
Endomines expects a decision on the environmental permit
renewal late 2013
Regional Environmental Impact Assessment has been filed in
June with a view to start production from satellite deposits along
the Karelian Gold Line
Rämepuro environmental permit application filed June 2013
Hosko will follow
Nett rain
water
Seepage
water
Discharge water
- max 5% of the
receiving
watercourse
Receiving
watercourse
Decaying wood area
Catchment
area
Waste rocks to be used as
backfilling material –
Reforested
Reforested
0
5
10
15
20
25
mg/l
Solids
Actual
Limit
No discharge
13.2.-12.5.2013

14. 20
Strong Social Licence to operate
29-Apr-11
Several mines have had environmental challenges in Finland
during last year / months
But not Endomines or Pampalo !!!
Clean discharge waters
No cyanide, no acids,
75% local employees, 50% trained by Endomines
Supporting local community:
Pampalo Gold Run
Endomines Three year Scholarship for University Geology or
Mining Technical studies
Supporting local village association
Orthodoxian Church
Sporting activities etc

15. 21
Strong Social Licence to operate
29-Apr-11
Several mines have had environmental challenges in Finland
during last year / months
But not Endomines or Pampalo !!!
75% local employees, 50% trained by Endomines
Supporting local community:
Pampalo Gold Run
Endomines Scholarship
Supporting local village association

16. Southern CrossKarelian Gold line
20 km
Analogous Archean Geology in
Karelian Gold Line and Southern
Cross Belt Australia
Karelian Gold Line compared to Australian
Southern Cross Belt
24
Gold exploration and production summary
Units Ilomantsi
(Karelian
Gold Line)
Central
Southern
Cross
Belt length km 90 110
Belt width km 0.5–10 0.5–15
Claims coverage % <20 100
Gold exploration since year 1986 1888
Gold produced total oz 40 000 >10,000,000
Gold produced in 2008 oz 0 157 147
Gold mines in production 1 4
Known reserves & resources oz 350 000 >2,000,000
Ilomantsi vs. Southern Cross greenstone belt
Data compiled by GSF / Dr P Eilu

17. The Karelian Gold Line
40 km
90 km long belt of gold mineralizations, of
which more than 40 km is controlled by
Endomines
Archean greenstone belt
Mineral rights for 132 km2 claims and
reservations
23 known gold showings
2 mining concessions granted
5 mining concessions applied
Active exploration ongoing
The processing plant in Pampalo is within
trucking distance from all of Endomines’
deposits along the Karelian Gold Line

18. The Karelian Gold Line – development strategy
1990-
2009
Pampalo Gold Mine Construction
Production
Capacity expansion
Mine site exploration
Karelian Gold Line Exploration
Satellite deposit core drilling
Satellite production Rämepuro
Hosko test pit
Geophysical
helicopter survey
Target generation Korvilansuo
Areal Exploration drilling
Geochemical surveys
2009 2010 2011 2012 2013

19. Exploration plan 2013
Mining
2013 exploration volume will be doubled
Core drilling contractors secured
Personnel recruited
Laboratories “warned”
Korvilansuo area main target:
Bedrock samples indicate a large scale
gold mineralization
Possibilities for a large, open pittable
deposit
Main target for future exploration
Mineral rights approved or under
application
Distance to Pampalo plant 15- 20 km
along paved road
Textbook example of orogenic gold
deposits:
Kuittila tonalite
Archaen
greenstone
belt
Muurinsuo
1 Mt@1,7 g/t
Korvilansuo(Muurinsuo)-area 2013:
- 12 000 m core drilling -
CONTINUES
- Trenching
- Metallurgical testwork -
COMPLETED
- Geochemical sampling
Rämepuro 2013:
- 2 000 m core
drilling
- 20 000 t test
mining and
processing -
STARTED
Hosko:
- 1 000 m core
drilling
- 500 t test
mining and
processing
- COMPLETED
Korvilansuo
0.25 Mt@2g/t
Kuittila
0.275 Mt@2,6g/t

20. Pampalo potential
Production 3 083kg (99 120 oz)
Remaining 990 000 t @ 3,5 g/t
3483 kg (112 000 oz)]
Resources 310 000 t @ 1,9 g/t
590 kg (18 900 oz)]
Lenses open down dip, lateral
exploration potential
S-3 depth 755m
2,55m@4,3g/t
S-1 depth 570m
6,8m @4,64 g/t
P-53 depth 330m
8,95m@3,36g/t
R-349 depth 220m
12,5m@7,67g/t
Pampalo East
Exploration on going
Area to be explored

21. Pampalo Gold Bar
ENDOMINES –
READY FOR
RESPONSIBLE
GROWTH