Nordic Mining ASA

Regulatory Filings • Feb 16, 2023

Memorandum of Understanding for offtake of pyrite from Engebø

Memorandum of Understanding for offtake of pyrite from Engebø

Nordic Mining ASA ("Nordic Mining" or the "Company") is pleased to announce that

the Company its wholly-owned subsidiary, Nordic Rutile AS, has entered into a

Memorandum of Understanding ("MoU") for a long-term joint cooperation for the

offtake of pyrite from the Engebø Rutile and Garnet Project (the "Engebø

Project").

Pyrite (Iron sulfate) is a mineral that is present in the Engebø Eclogite-ore

and that will be separated in the process of purifying the rutile concentrate.

Nordic Mining will in partnership with Green Trail Holding Ltd, a trading

company with over 30 years of experience, together pursue market opportunities

for pyrite as a new mineral production stream. Pyrite has previously been

considered as a residual waste stream from the Engebø Project.

The successful production, marketability and sale of pyrite can potentially

create value from residual mineral waste streams and reduce the need to deposit

pyrite as part of the tailings. Further, it has the potential for a significant

reduction of chemical additives in the tailings. Even though the project is

fully permitted and considered environmentally safe by the Norwegian

authorities, any reduction in additives in the tailings is regarded positive and

further reduces the risk of environmental impacts. The process plant design

already allows for finalization of the pyrite as a separate mineral concentrate

stream, with minimum additional infrastructure requirements.

Pyrite is used as a raw material in a wide range of industrial applications such

as in the paper industry, in batteries, water treatment and various chemical

processes.

Green Trail Holding Ltd is a trading company with over 30 years of experience

and has an excellent knowledge, network, and competence in the global mineral

market.

"We are enthusiastic about the cooperation with Green Trail, where we jointly

will explore additional value from the Engebø mineral deposit" says CEO Ivar S.

Fossum.

For further information, please contact CEO Ivar S. Fossum, telephone +47 930

96 850.

Oslo, 16 February 2023

Nordic Mining AS

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".