Nordic Mining ASA — Capital/Financing Update 2019

Aug 23, 2019

Key information relating to the preferential rights issue to be carried out by Nordic Mining ASA

Key information relating to the preferential rights issue to be carried out by Nordic Mining ASA

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

INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER

JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE

UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE

SECURITIES DESCRIBED HEREIN.

Date on which the terms and conditions of the preferential rights issue were

announced: On or about 12 September 2019

Last day including right: 13 September 2019

Ex-date: 16 September 2019

Record Date: 17 September 2019

Date of approval: 13 September 2019

Number of new shares: To be announced on or about 12 September 2019

Subscription price: To be announced on or about 12 September 2019

Will the rights be listed - yes/no: Yes

Other information: The preferential rights issue is subject to approval by the

extraordinary general meeting ("EGM") of Nordic Mining ASA, which will be held

on 13 September 2019. Terms of the rights issue, including the subscription

price and the number of shares to be issued, will be proposed by the Board of

Directors and are expected to be announced on or about 12 September 2019.

According to the current timetable, and subject to approval by the EGM, the

subscription period for the rights issue is expected to commence on or about 18

September 2019 and end on or about 2 October 2019. Shares in Nordic Mining ASA

are expected to be traded exclusive of subscription rights from 16 September

2019. Freely tradable subscription rights will be applied for listing on the

Oslo Axess and will be tradable from the commencement of the subscription period

and until on or about 30 September 2019, two days prior to the expiry of the

subscription period.

Reference is made to the notice of the extraordinary general meeting in Nordic

Mining ASA announced through a stock exchange notification on 23 August 2019 for

further information regarding the rights issue.

Oslo, 23 August 2019

Nordic Mining ASA

Important information:

This release is an announcement issued pursuant to legal information

obligations, and is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

Nordic Mining ASA ("Nordic Mining" or the "Company") is a resource company with

focus on high-end industrial minerals and metals. The Company's project

portfolio is of high international standard and holds significant economic

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

Nordic Mining is undertaking a large-scale project development at Engebø on the

west coast of Norway where the Company has rights and permits to a substantial

eclogite deposit with rutile and garnet. Nordic Mining also holds 18.5% of the

shares in Keliber Oy, which is developing a lithium project in Finland.

In addition, Nordic Mining holds interests in other initiatives at various

stages of development. This includes patented rights for a new technology for

production of alumina, and exploration of seabed minerals, high-purity quartz,

nickel and PGE.

Nordic Mining is listed on Oslo Axess with ticker symbol "NOM".