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May 05, 2008 (Hugin via COMTEX) -- Lappland Goldminers AB (publ), listed on First North and the Norwegian OTC list, has since 2004 carried out several exploration campaigns in the Gubbtrask area. After a drilling program at Lagbacken, which has now been completed, the mother lode for high grade lead-silver mineralized boulders, which were reported in August 2007, have most probably been located. Lappland Goldminers is since 2004 carrying out exploration work for gold and base metals in the Gubbtrask area, on the Gold Line in the municipality of Storuman. In a press release of 8/28/07 the Company reported interesting lead-silver discoveries in boulders at Lagbacken. They were thought to be local, due to their shape and properties. Geochemical sampling of the surface and bottom till from extensive excavations and geophysical surveys delineated a target area, which has been drilled by 8 core drill holes totalling 990 m. The best result is in drillhole LAB200806, in which a 6 m wide section with 6.6 % lead and 59.7 g/t silver is part of a 23 m wide section from 47.3 - 70.3 m with 2.2 % lead and 19.9 g/t silver. The galena mineralization of breccia type is rich in silver and occurs in granodiorite. It has so far been intersected for a length of 150 m in a north-south direction, and has been partially indicated down to a depth of 100 m at a width of 6-7 m with extensive breccia mineralizations in connection with the main mineralization. The type of mineralization, lead-silver, is a third type of mineralization in the Gubbtrask area, where previously gold-arsenic and zinc-lead-silver mineralizations have been indicated. All assay results are not yet at hand from the latest drilling but results so far available and from the visual inspection of drill cores, the extension of the mineralized zone can be predicted with great certainty to initiate a new drilling program. In the first phase another 5 core drill holes totalling 500 m will be drilled to evaluate the mineral resource. The purpose of the drilling program, which will be started in May, is to follow up the continuation of the mineralization towards north. Link to the drilling results for Lagbacken Link to overview map and drilling map Assay results so far obtained from the 2007 and 2008 drilling have been published on the web page of Lappland Goldminers. - The Companys' exploration activities are systematic and successful. The results of our exploration work and the assay results obtained show that we are getting closer to an important breakthrough in the Gubbtrask area. A major advantage and potential for the projects in the area is the proximity to the Blaiken processing plant. We are looking forward to the facilities getting back into operations, and we are convinced that the conditions are favourable for collaboration or joint venture with others with an interest in the Blaiken plant, says Lappland Goldminers MD Karl-Ake Johansson. Gubbtrask is located about 25 km east of Storuman and about 65 km NNW of Faboliden, where the Company plans to establish a Central Processing Plant to process the ores from the Gold Line. Lagbacken exploration project is situated on exploration permit Gubbtrask No.4 and is located about 4 km SE of the Central Gubbtrask area, where extensive exploration work have been carried out by Lappland Goldminers AB. The technical information of this press release has been reviewed by Leif Carlson a Qualified Person (QP) and a Director of the Board of Lappland Goldminers AB. For additional information about our exploration methods, about this project, or about the Company, visit our website. For additional information:

Karl-Ake Johansson, CEO Tomas Bjorklund, Board Member Ph. +46950 275 01, +46 70 625 22 57 Ph. +46 70 662 35 karl-ake.johansson@lgold.se tomas.bjorklund@lgold.se

Also please refer to: 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 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 Vasterbotten. The Company's strategy is to develop a profitable, producing gold company with a centrally located processing plant in Faboliden, 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 (formerly called the Swedish Mining Association) and follows SveMin's reporting rules for public mining and exploration companies.

SOURCE: Lappland Goldminers AB

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