Nordic Mining ASA

Nordic Mining ASA: Binding garnet Offtake Agreement with leading international distributor of industrial abrasives

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

the Company, through its wholly-owned subsidiary Nordic Rutile AS, today has

entered into a globally exclusive offtake agreement for the full planned garnet

production from Engebø for the first 5 years of production ("Offtake

Agreement").

The Offtake Agreement is for the supply and delivery of minimum total of 762,500

metric tonnes of garnet concentrate in the 5-year contract period, up to a total

of 785,000 metric tonnes, which is the full planned garnet production the first

5-years. The consideration will be based on a pre-agreed price schedule for the

5-year period.

Nordic Mining has through this Offtake Agreement secured, together with the

rutile offtake agreements announced earlier, committed sales for up to the full

production of both rutile and garnet from Engebø for the first 5 years of

production, all with highly reputable buyers.

In addition to materially de-risk the market side, Nordic Rutile will with the

three offtake agreements in place satisfy the offtake related conditions in the

company's financing areements.

Further to the initial Offtake Agreement, the parties shall discuss extension of

the cooperation, comprising for example joint marketing, sales, and distribution

of garnet from the Engebø Rutile and Garnet Project.

The agreement is inter alia subject to certain conditions precedent.

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

96 850 or CFO Christian Gjerde, telephone +47 980 60 909.

Oslo, 16 January 2023

Nordic Mining AS

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 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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