Nordic Mining ASA — Capital/Financing Update 2015

Oct 27, 2015

Substantial oversubscription of the Rights Issue

Substantial oversubscription of the Rights Issue

Strong interest in Nordic Mining's Rights Issue secures progress of value

increasing activities related to the Engebø rutile project.

Up to 77,000,000 new shares at a subscription price of NOK 0.45 per share have

been offered through a Rights Issue in Nordic Mining. The subscription period

expired Monday 26 October 2015 at 16.30 (CET). A preliminary counting of the

subscriptions indicates that the issue has been substantially oversubscribed.

The gross proceeds from the Rights Issue will be NOK 34.65 million.

CEO Ivar S. Fossum comments:

"We are very pleased with the result from the Rights Issue which allows us to

move forward with value increasing activities related to the Engebø rutile

project. This includes drilling to improve resource classification, processing

tests and optimisation work, and activities related to supply of process water

and power."

Allocation of shares in the Rights Issue will be resolved by Nordic Mining's

Board of Directors in accordance with the allocation criteria set out in the

Prospectus dated 8 October 2015. The final result of the Rights Issue is

expected to be published 28 October 2015, and letters to investors will be sent

the same day giving notification of allocated new shares and the corresponding

amount to be paid by each subscriber.

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

60 941.

Oslo, 27 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.