Nordic Mining ASA - Capital/Financing Update 2020

Cancellation of subsequent offering

Reference is made to the stock exchange notices on 28 January and 25 February

2020 regarding the completed private placement and the contemplated subsequent

offering with a subscription price of NOK 2.00 per share.

Since the extraordinary general meeting on 25 February 2020 where the Board of

directors was given authorization to issue shares to be used in the subsequent

offering, the price of the share has, for an extended period of time and with

substantial trading volume, traded below the subscription price in the planned

subsequent offering. Consequently, existing shareholders wishing to avoid or

reduce the dilutive effect of the private placement have had, and continue to

have, the opportunity to purchase shares in the open market at prices below the

subscription price in the private placement.

On this basis, the Board of directors of Nordic Mining has today decided not to

proceed with the subsequent offering. The company will publish a listing

prospectus for the shares issued in the private placement.

For further information please contact Senior advisor Lars K. Grøndahl,

telephone +47 90160941.

Oslo, 21 April 2020

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 16.3% 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 and exploration of seabed minerals.

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

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