Axactor SE

Board/Management Information • Dec 3, 2015

Press release dated 2015-12-03

Nickel Mountain Group (NMG) recruits new CFO

Nickel Mountain Group AB (publ) ("NMG") is pleased to announce that the management team in Oslo has been strengthened by the recruitment of a new Chief Financial Officer (CFO).

Mr. Geir Johansen will take up this position from January 1st 2016. Geir Johansen is coming from a position as CFO at Fred Olsen Ocean AS. Geir Johansen will be allocated 6,000,000 NMG incentive options in accordance with the Employee Stock Option program approved at the November 17, 2015 EGM.

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

Mail: endre.rangnes@nickelmountain.se

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. Forwardlooking 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.