Nordic Mining ASA — Capital/Financing Update 2016

Jun 9, 2016

Approved Prospectus and start of Subscription Period

Approved Prospectus and start of Subscription Period

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR

INDIRECTLY, IN UNITED STATES, CANADA, JAPAN, AUSTRALIA OR SINGAPORE

The Prospectus in connection with the rights issue (the "Rights Issue") in

Nordic Mining ASA ("Nordic Mining" or the "Company") has been approved by the

Financial Supervisory Authority of Norway. The Subscription Period for the

Rights Issue starts today, 9 June 2016.

Approved Prospectus

The Financial Supervisory Authority of Norway has reviewed and approved the

Company's Prospectus regarding the Rights Issue of up to 170,000,000 new shares

(the "Offer Shares") at a subscription price of NOK 0.50 per Offer Share, with

Subscription Rights for shareholders as of the end of 3 June 2016 (as registered

in the Norwegian Central Securities Depository ("VPS") on 7 June 2016) who are

not resident in a jurisdiction where such offering would be unlawful, or for

jurisdictions other than Norway which would require any filing, registration or

similar action (the "Eligible Shareholders").

Nordic Mining will today publish the Prospectus in connection with the Rights

Issue, the terms and conditions for which were announced on 2 June 2016. The

Prospectus together with the subscription form will be available at

www.nordicmining.com and at www.swedbank.no, and will also be available free of

charge at the business offices of Nordic Mining and Swedbank. Swedbank has been

appointed Manager and Kvale Advokatfirma is legal advisor for the Rights Issue.

Subscription price

The subscription price in the Rights Issue is NOK 0.50 per Offer Share.

The last closing price for the Nordic Mining share prior to announcement of the

transaction on 2 June 2016 was NOK 0.65. The theoretical ex-rights price

("TERP"), which takes into account the implicit dilution of the transaction, was

NOK 0.60. The subscription price discount to TERP is approximately 17%.

Consequently, the Subscription Rights are expected to have an economical value.

Subscription Rights

Each Eligible Shareholder has received 0.4409802 Subscription Rights for every

one (1) share held based on their shareholding at the end of 3 June 2016, as

registered in the VPS on 7 June 2016. The number of Subscription Rights issued

to each Eligible Shareholder has been rounded down to the nearest whole

Subscription Right.

The holders of Subscription Rights will be entitled to subscribe for and be

allocated one (1) Offer Share for every (1) Subscription Right held. Over

-subscription is permitted.

Subscription Rights transferred to shareholders registered in the VPS will be

fully tradable and listed on Oslo Axess with ticker code "NOM T" and registered

in VPS with ISIN NO 0010766397. The trading period for the Subscription Rights

starts today, 9 June 2016.

Offer Shares that are not subscribed for by holders of Subscription Rights may

be subscribed by other investors.

Offer Shares may be subscribed by investors who are not resident in a

jurisdiction where such offering would be unlawful, or for jurisdictions other

than Norway which would require any filing, registration or similar action.

Regarding further restrictions in respect of who may be allocated or permitted

to acquire or exercise Subscription Rights/subscribe for Offer Shares, reference

is made to Section 5.15 "Selling Restrictions and restrictions on distribution

of Subscription Rights" in the Prospectus.

Subscription period for Offer Shares

From and including 9 June 2016 to 23 June 2016 at 16:30 CET.

Trading in Subscription Rights

From and including 9 June 2016 to 21 June 2016 at 16:30 CET.

Please note that Subscription Rights that are not used to subscribe for Offer

Shares before the end of the subscription period 23 June 2016 at 16:30 CET, or

not sold before 21 June 2016 at 16:30 CET, will lapse without compensation and

consequently be of no value.

Payment, delivery and trading of the Offer Shares

Due date for payment of the Offer Shares is 29 June 2016. The Offer Shares will

carry right to dividends as from the date of registration of the Offer Shares

with the Norwegian Register of Business Enterprises and will be delivered

through the facilities of the VPS. Trading in Offer Shares on Oslo Axess is

expected to commence on or about 4 July 2016.

Other information

In connection with the Rights Issue, Nordic Mining would like to invite to lunch

presentations on Wednesday 14 June 2016 at 11:30 CET at Swedbank, Filipstad

Brygge 1, 8th floor in Oslo. Kindly register at corporateaccess@swedbank.no.

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

60 941.

Oslo, 9 June 2016

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 a large

-scale project development at Engebøfjellet in Sogn and Fjordane where the

Company has rights and permits to a substantial eclogite deposit with rutile and

garnet. Permits for the project have been granted by the Norwegian government.

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.