Nordic Mining ASA — Capital/Financing Update 2019

May 28, 2019

Nordic Mining ASA - Contemplated Private Placement

Nordic Mining ASA - Contemplated Private Placement

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

INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA 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.

Nordic Mining ASA ("Nordic Mining" or the "Company") has retained Clarksons

Platou Securities AS and Swedbank Norge, branch of Swedbank AB (publ) in

cooperation with Kepler Cheuvreux as Joint Lead Managers and Bookrunners to

advise on and effect a private placement directed towards Norwegian and

international investors, in each case subject to and in compliance with

applicable exemptions from relevant prospectus, filing and registration

requirements (the "Private Placement").

The Company is offering up to 12,950,000 new shares in the Private Placement,

representing up to approximately 9.9% of the outstanding capital of the Company.

The subscription price in the Private Placement will be determined through an

accelerated bookbuilding process to be conducted by the Managers. The minimum

application and allocation amount has been set to the NOK equivalent of EUR

100,000. The Company may however, at its sole discretion, allocate an amount

below EUR 100,000 to the extent applicable exemptions from the prospectus

requirement pursuant to the Norwegian Securities Trading Act and ancillary

regulations are available.

The application period for the Private Placement opens today at 16:30 CEST and

closes 29 May 2019 at 08:00 CEST (the "Application Period"). The Managers and

the Company may, however, at any time and for any reason resolve to close or

extend the Application Period at their sole discretion and on short notice.

The Company has received pre-subscriptions of a total of NOK 13 million from the

Barton Group and Verdipapirfondet Nordea Avkastning with NOK 8 and NOK 5 million

respectively. Barton Group is the leading US garnet producer and distributor and

has signed a Heads of Agreement related to offtake and commercial cooperation

for garnet with Nordic Mining.

The proceeds from the Private Placement will be used primarily to finance the

Company's ongoing Definitive Feasibility Study of the Engebø project and general

corporate purposes. The Definitive Feasibility Study's main purpose is to

qualify the project for bankability.

In addition to the financing of the Engebø project, the Company will, both in

the near and long-term horizon continue to assess opportunities including

possible acquisitions and possible divestments. Such potential investments or

acquisitions may need to be financed by new equity.

The allocation of new shares in the Private Placement will be made at the

discretion of the Company's Board of Directors in consultation with the Joint

Lead Managers. Completion of the Private Placement is subject to approval by the

Board of Directors of the Company following the end of the Application Period.

An updated Company presentation is attached to this notice. For further

information, please contact: Birte Norheim (CFO) at +47 9529 3321 or

birte.norheim@nordicmining.com.

Oslo, 28 May 2019

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. 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 to become

the first European producer of battery grade lithium hydroxide.

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 which are jointly owned with the Institute for Energy

Technology. The Group has also taken initiatives related to seabed mineral

exploration in Norway and participates in the MarMine research project. Further,

the Group is investigating a high-quality quartz deposit in Kvinnherad in

western Norway and holds exploration rights for nickel and PGE in a prospective

geologic province in Reinfjord in northern Norway.

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

Important information:

This document is not an offer to sell or a solicitation of offers to purchase or

subscribe for shares. Copies of this document may not be sent to jurisdictions,

or distributed in or sent from jurisdictions, in which this is barred or

prohibited by law. The information contained herein shall not constitute an

offer to sell or the solicitation of an offer to buy, in any jurisdiction in

which such offer or solicitation would be unlawful absent registration, or an

exemption from registration or qualification under the securities laws of any

jurisdiction.

This document is not for publication or distribution in the United States of

America, Canada, Australia, South Africa or Japan and it does not constitute an

offer or invitation to subscribe for or purchase any securities in such

countries or in any other jurisdiction. This document is not an offer for sale

of securities in the United States of America. The securities referred to herein

have not been and will not be registered under the Securities Act, or the laws

of any state, and may not be offered or sold in the United States of America

absent registration under or an exemption from registration under the Securities

Act. The Company does not intend to register any part of the Private Placement

in the United States of America.

The information contained herein does not constitute an offer of securities to

the public in the United Kingdom. No prospectus offering securities to the

public will be published in the United Kingdom. This document is only being

distributed to and is only directed at (i) persons who are outside the United

Kingdom or (ii) to investment professionals falling within article 19(5) of the

Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the

"Order") or (iii) high net worth entities, and other persons to whom it may

lawfully be communicated, falling within article 49(2)(a) to (d) of the Order

(all such persons together being referred to as "relevant persons"). The

securities are only available to, and any invitation, offer or agreement to

subscribe, purchase or otherwise acquire such securities will be engaged in only

with, relevant persons. Any person who is not a relevant person should not act

or rely on this document or any of its contents.

The Joint Lead Managers are acting for the Company in connection with the

Private Placement and no one else and will not be responsible to anyone other

than the Company for providing the protections afforded to their respective

clients or for providing advice in relation to the Private Placement or any

transaction or arrangement referred to in this press release.