Nordic Mining ASA — Capital/Financing Update 2015

Oct 28, 2015

Final result of the Rights Issue in Nordic Mining

Final result of the Rights Issue in Nordic Mining

Allocation of 77,000,000 new shares in the Rights Issue has been approved by the

Board of Directors. The Rights Issue was approximately 56% oversubscribed.

The subscription period in the Rights Issue in Nordic Mining expired at 16:30

(CET) on 26 October 2015. At the end of the subscription period, Nordic Mining

had received subscriptions for a total of 120,154,085 new shares. 77,000,000 new

shares were offered, and the Rights Issue was consequently oversubscribed by

approximately 56%.

The Board of Directors of Nordic Mining has approved the final allocation of the

shares offered in the Rights Issue based on the allocation criteria set out in

the Prospectus dated 8 October 2015. A total of approximately 70.8 million new

shares have been allocated to subscribers on the basis of exercised subscription

rights. The remaining ca 6.2 million new shares have been allocated to holders

of subscription rights as a result of oversubscription. No allocation has been

made to subscribers without subscription rights.

Letters giving notification of allocated new shares and the corresponding

subscription amount to be paid by each subscriber will be distributed today.

Payment for the allocated shares falls due on Monday 2 November 2015.

The new shares may not be transferred or traded before they are fully paid and

the share capital increase pertaining to the Rights Issue has been registered

with the Norwegian Register of Business Enterprises. It is expected that the

share capital increase will be registered in the Norwegian Register of Business

Enterprises on or about 5 November 2015 and that the new shares will be

transferred to the VPS accounts of the subscribers on the same day.

Through the Rights Issue, Nordic Mining will receive proceeds of NOK 34.65

million before deduction of transaction costs. Following registration of the

share capital increase in the Norwegian Register of Business Enterprises, the

share capital of Nordic Mining will be NOK 38,550,480.50 divided into

385,504,805 shares, each with a nominal value of NOK 0.10.

Swedbank is appointed manager and Kvale Advokatfirma is legal advisor for the

transaction.

For further information please contact CFO Lars K. Grøndahl, telephone +47 901

60 941.

Oslo, 28 October 2015

Nordic Mining ASA

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 in Norway and internationally.

The Company's project portfolio is of high international standard and holds a

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

Through the subsidiary Nordic Rutile AS Nordic Mining is undertaking large-scale

project development at Engebø in Sogn and Fjordane where the Company has rights

to a substantial eclogite deposit with rutile and garnet. Permits for the

project were granted by the Norwegian government in April 2015. Nordic Mining

has rights for exploration and production of high-purity quartz in Kvinnherad in

Hordaland and develops the project through its subsidiary Nordic Quartz AS.

Nordic Mining's associated company Keliber Oy in Finland plans to start mining

of lithium bearing spodumene and production of lithium carbonate. Nordic Mining

holds exploration rights on the Øksfjord Peninsula in Troms and Finnmark, where

the Company has discovered a prospective area of sulphide mineralisation.

Through the subsidiary Nordic Ocean Resources AS, Nordic Mining is exploring

opportunities related to seabed mineral resources.

Nordic Mining is listed on Oslo Axess.