Axactor SE

Nickel Mountain Group (NMG) recruits additional management team members in Oslo

Press release dated 2015-11-30

Nickel Mountain Group AB (publ) ("NMG") is pleased to announce that the

management team in Oslo has been strengthened by the recruitment of two new team

members:

Mrs. Siv Farstad will take up the position as Executive Vice President HR with

immediate effect. Siv is coming from a temporary HR Executive position in

Kommunalbanken. Until May 15th 2015 she was the Senior Executive Vice President

HR at Lindorff Group. Siv Farstad owns 2,000,000 NMG shares and will be

allocated 1,500,000 NMG incentive options.

Mr. Oddgeir Hansen will take up the position as Chief Operating Officer with

immediate effect. Oddgeir is coming from Chief Operating Officer position in

Lindorff Group. Oddgeir owns 3,600,000 NMG-shares (via private company) and will

be allocated 4,000,000 NMG incentive options.

For and on behalf of the Board of Directors of Nickel Mountain Group AB

Endre Rangnes (Chief Executive Officer)

For more information, please contact Endre Rangnes

Cell Phone: +47 48 211111

www.nickelmountain.se

Cautionary Statement: Statements and assumptions made in this document with

respect to Nickel Mountain Group AB's ("NMG") current plans, estimates,

strategies and beliefs, and other statements that are not historical facts, are

forward-looking statements about the future performance of NMG. Forward-looking

statements include, but are not limited to, those using words such as "may",

"might", "seeks", "expects", "anticipates", "estimates", "believes", "projects",

"plans", strategy", "forecast" and similar expressions. These statements reflect

management's expectations and assumptions in light of currently available

information. They are subject to a number of risks and uncertainties, including,

but not limited to, (i) changes in the economic, regulatory and political

environments in the countries where NMG operates; (ii) changes relating to the

geological information available in respect of the various projects undertaken;

(iii) NMG's continued ability to secure enough financing to carry on its

operations as a going concern; (iv) the success of its potential joint ventures

and alliances, if any; (v) metal prices, particularly as regards nickel. In the

light of the many risks and uncertainties surrounding any mineral project at an

early stage of its development, the actual results could differ materially from

those presented and forecast in this document. NMG assumes no unconditional

obligation to immediately update any such statements and/or forecasts.

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