Endomines reported additional results from the Ukkolanvaara deposit. New results show mixed grades from 1.01 to 4.33 g/t per drilling. We highlight that most of the results are 1.01-2.59 g/t, which are modest / close to industry averages on a global scale. We believe that exploiting gold grades close to 1 g/t in an economically viable way is challenging. Endomines targets to complete the official mineral resource estimate for Ukkolanvaara by late 2026 or early 2027.

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