Nordic Mining ASA — Capital/Financing Update 2020

Jan 28, 2020

Nordic Mining ASA: Key information relating to subsequent offering to be carried out by Nordic Mining ASA

Nordic Mining ASA: Key information relating to subsequent offering 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.

Reference is made to the stock exchange notice from Nordic Mining ASA (the

"Company") earlier today, regarding a private placement of 28,700,000 new shares

in the Company (the "Private Placement") and a subsequent offering of 10,000,000

new shares at the same subscription price as in the Private Placement (the

"Subsequent Offering").

Date on which the terms and conditions of the Subsequent Offering were

announced: 28 January 2020

Last day including right: 28 January 2020

Ex-date: 29 January 2020

Record date: 30 January 2020

Maximum number of new shares: 10,000,000 new shares

Subscription price: NOK 2.00 per share

Other information: The Subsequent Offering is subject to approval from the

general meeting and the publication of a prospectus approved by the Norwegian

Financial Supervisory Authority. Notwithstanding the foregoing, the board of

directors may, in its sole discretion, decide that the Company shall not carry

out the Subsequent Offering. This information is published in accordance with

the requirements of the Continuing Obligations. This information is subject of

the disclosure requirements pursuant to section 5-12 of the Norwegian Securities

Trading Act.

For additional information, please contact: Birte Norheim, CFO, + 47 95 29 33 21

Oslo, 28 January 2020

Nordic Mining ASA

About 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 and exploration of seabed minerals.

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