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Lappland Goldminers AB Lappland Goldminers AB (publ), listed on First North and the Norwegian OTC list, present an assessment of mineral resources for Haveri Gold project in Finland, in compliance with NI 43-101.
The company has analyzed and compiled the substantial amount of geological information present for the Haveri project in southern Finland with help of independent consultants. Lappland Goldminers can now present a first assessment of the project's mineral resource in compliance with the Canadian NI 43-101 consisting of 6.9 million tonnes measured and indicated mineral resource with an average grade of 1.37 g/t Au equivalent to 308,663 troy ounces of Au, for those parts of the project included in this study. The mineral resources are 24.7 Mton Au at 0.89 g/t Au at a cut off at 0.5 g/t Au, equivalent with 710,238 troy ounces.
See attached table
A huge amount of work with geological interpretations and metallurgical studies has been performed to estimate the size of the deposit. This work shows that the deposit is considered to be economically viable to mine. In excess of the presented mineral resource there are big volumes of rock that during diamond drilling have been indicated to contain certain amounts of gold. We are continuing working to include in these areas into the mineral resource. The mineral resource presented gives us the base to develop the operations in the Haveri area, says Lappland Goldminers AB CEO, Karl-Åke Johansson.
The assessment of the mineral resource has been done by the independent consultant Geoff Reed, review and verification has been carried out by Ioannis Kapageridis, QP (Qualified Persons) for the project according to NI 43-101.
Geoff Reed is a Consulting Geologist at ReedLeyton Consulting, Associate Maptek. Geoff Reed (B.App.Sc. (Geology), MAusIMM) graduated from the University of Technology, Sydney in 1997. Geoff Reed has 11 years of mining and exploration industry experience, 10 years base metals experience working as a mine geologist at the CSA Copper Mine, Cobar and Mt Isa Mines Enterprise Copper Mine and Pasminco Broken Hill Mine. Senior Geologist at CBH Resources Endeavor (Elura) Mine, Cobar and Zinifex Century Mine and Dugald River, Mt Isa. He has experience in all facets of mine geology and resource modelling and reporting. Since August 2006, Geoff has been working as a consultant in Sweden and Portugal in uranium, gold mining and exploration.
Dr. Ioannis Kapageridis is a mining engineer with a Ph.D. in grade estimation. He is a Professional Member of the Institute of Materials, Minerals and Mining (IOM3), a Chartered Engineer (Engineering Council, UK) and a Chartered Scientist (Science Council, UK). He is also a member of the International Association for Mathematical Geology. He has been involved in feasibility studies and mine planning of a number of gold projects in Morocco, Turkey, Greece and Mongolia. His experience also includes the study of other metal deposits such as nickel and copper.
The geological information for the mineral resource has been compiled by a group of (Australian) experts including Greg Hall, previously Chief Geologist with Placer Dome Inc., Scott Halley previously Chief Geochemist with Placer Dome Inc., John Standing Structural Geologist, Ian Neilson Structural Geologist and a specialist in Geocad modelling and John Coggon Geophysicist ( see also Quarterly (Q3) Report 2007.
For additional information about our exploration methods, the project and about the Company please visit our web site. Karl-Åke Johansson, CEO Tomas Björklund, Board Member Ph. +46 950 275 01, +46 70 625 22 57 Ph. +46 70 662 35 35 karl-ake.johansson@lgold.se tomas.bjorklund@lgold.se
Also see: www.lapplandgoldminers.com About Mangold Fondkommission: www.mangold.se
Lappland Goldminers AB is an exploration company, and, through the acquisition of the gold mine and processing plant Pahtavaara in Finland, also a producing mining company. The operations in Haveri are run out of the wholly owned subsidiary Lappland Goldminers OY. 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 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 a centrally located processing plant in Fäboliden, Sweden, in the Haveri area in Finland, and Pahtavaara in northern Finland, which is supported by ore from one or several mines either through the Company's own exploration or alternatively through acquisitions. The company is a member of SveMin, the trade association for mines, minerals and metal producers in Sweden and follows SveMin's reporting rules for public mining and exploration companies.
