Lappland Goldminers AB (STO:GOLD) : The Ersmarksberget Gold Mine In Blaiken Will Start.

Lappland Goldminers AB (STO:GOLD) Lappland Goldminers AB (publ), listed on First North and the Norwegian OTC list, has, after a period of financing work, succeeded in finding a solution which means that SEK 30 million is injected in the form of a loan and public funds. Half of the money has been borrowed from share holders, and the other half is in the form of public funding.

-We are very pleased with the help we have received from the municipalities. The financial solution means that Lappland Goldminers during 2009 will be a profitable company, and it also means that 150-200 people in the region will be employed" says company CEO Karl-Åke Johansson.

- We have been working with reviewing all information pertaining to the processing plant and the Ersmarksberget gold mineralization since we acquired these assets in the month of August, and we have for some time been ready to start production at the mine, says Lappland Goldminers CEO Karl-Åke Johansson. The financing, in the form of operating capital for the start-up expenses, became unexpectedly difficult due to the fact that banks basically have closed the door on new lending because of the current financial crisis. The solution we have now arrived at together with the municipalities of Lycksele, Sorsele and Storuman means that public funding is used to help with around half of the needed financing and the other half comes from share holders.

Production during 2009 from the Ersmarksberget gold mine is estimated to approx. 30,000 oz of gold, resulting in a net profit of at least SEK 40 million. More detailed information about future production will be reported at a later time.

The municipalities of Lycksele, Sorsele and Storuman had the following comments:

- Blaikenverket will be started and will result in a positive effect in the region. Around 50 people will immediately be employed, and possibly, as a ripple effect, another 150 could gain employment.

The Municipal Commissioners of Lycksele, Lilly Bäcklund, Storuman, Gunilla Lundgren, and Sorsele, Roland Wermelin are convinced that the start-up of production in Blaikenverket will be financed through public funding. They are with confidence looking forward to the positive solution and effect that Blaikenverket will have in the region.

The Company acquired the operations at Ersmarksberget in Blaiken in August 2008 from the bankruptcy estate of Scanmining AB and Blaikengruvan AB including the deposit and surrounding exploration permits. The deposit is located along the Gold Line in Lappland. The area around the Blaiken processing plant is looked upon by the Company as highly interesting for finding additional gold deposits, with a potential for starting new mines where the ore is transported to and processed in the processing plant.

For additional information:

Karl-Åke Johansson, CEO Tomas Björklund, Board Member Ph. +46 950-275 01, +46 70-625 22 Ph. +4670-662 35 35 57 karl-ake.johansson@lgold.se tomas.bjorklund@lgold.se

Also visit: www.lapplandgoldminers.com About Mangold Fondkommission: www.mangold.se

Lappland Goldminers AB is an exploration company and a producing mining company. The company is listed on the market place "First North" under the name GOLD, with Mangold Fondkommission AB as the Certified Adviser, as well as on the Norwegian OTC list. Lappland Goldminers has secured a number of gold deposits along the so-called Guldlinjen ("The Gold Line") in Västerbotten. The Company's strategy is to develop a profitable, producing gold company, with centrally located processing plants in Fäboliden and Blaiken, Sweden, and in the Haveri area in southern Finland and Pahtavaara in Northern Finland, supported by ore from one or several mines either through the Company's own exploration or alternatively through acquisitions. Lappland Goldminers is a member of SveMin, the trade association for mines, minerals and metal producers in Sweden (formerly called the Swedish Mining Association) and follows SveMin's reporting rules for public mining and exploration companies.

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.



LINK: http://hugin.info/134992/R/1273946/283133.pdf

Lappland Goldminers AB

http://www.lapplandgoldminers.com

ISIN: SE0000718132

Stock Identifier: SSE.GOLD