Nordic Mining ASA

NORDIC MINING: DISCLOSURE OF LARGE SHAREHOLDING

Reference is made to the stock exchange notice made by Nordic Mining ASA

("Nordic Mining") on 2 March 2023 regarding the successful private placement and

conversion a of convertible loan with Fjordavegen Holding, and the stock

exchange notice made by Nordic Mining today regarding the board meeting and the

extraordinary general meeting held to approve the private placement.

Iwatani Corporation has been allocated 319,582,667 shares in the private

placement, equal to 15.73% of the share capital and votes of Nordic Mining

following registration of the share capital increase pertaining to the private

placement and the conversion of the convertible loan.

Iwatani Corporation did not hold any shares in Nordic Mining prior to the

private placement.

Oslo, 3 March 2023

Nordic Mining ASA

This information is subject to the disclosure requirements pursuant to the

Continuing Obligations and Section 4-2 and 5-12 the Norwegian Securities Trading

Act.

Nordic Mining ASA (www.nordicmining.com)

Nordic Mining ASA ("Nordic Mining" or the "Company") is a resource company with

focus on high-end industrial minerals and metals. The Company's project

portfolio is of high international standard and holds significant economic

potential. The Company's assets are in the Nordic region.

Nordic Mining is undertaking a large-scale project development at Engebø on the

west coast of Norway where the Company has rights and permits to a substantial

eclogite deposit with rutile and garnet. In addition, Nordic Mining holds

interests in other initiatives at various stages of development. This includes

patented rights for a new technology for production of alumina and exploration

of seabed minerals.

Nordic Mining is listed on Euronext Expand Oslo with ticker symbol "NOM".

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