Nordic Mining ASA - Capital/Financing Update 2021

Nordic Mining ASA: Cancellation of subsequent offering

Reference is made to Nordic Mining ASA's (the "Company") stock exchange notices

on 24 February 2021 regarding the completed private placement of up to

32,000,000 new shares in the Company (the "Private Placement") and a subsequent

offering of 7,000,000 new shares (the "Subsequent Offering") at NOK 2.50 per

share.

As announced in the stock exchange notice, completion of a subsequent offering

is subject, inter alia, to the prevailing market price of the share. Following

the Board of Directors resolution to carry out a subsequent offering the price

of the share has, for an extended period and with substantial volume, traded

below the subscription price in the planned subsequent offering.

Existing shareholders wanting 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 and the contemplated subsequent offering.

The Board of Directors has as result decided not to proceed with the subsequent

offering.

For further information, please contact CFO Christian Gjerde, telephone +47

Oslo, 18 March 2021

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 Euronext Expand Oslo with ticker symbol "NOM".

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