Nordic Mining ASA — Capital/Financing Update 2021

Feb 25, 2021

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") yesterday, regarding a 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 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: 24 February 2021

Last day including right: 24 February 2021

Ex-date: 25 February 2021

Record date: 26 March 2021

Board resolution date: To be determined

Maximum number of new shares: 7,000,000 new shares

Subscription price: NOK 2.50 per share

Other information: The Subsequent Offering is conditioned on (i) the prevailing

market price of the Company's shares, (ii) the relevant corporate resolutions

being passed by the Company's Board of directors and (iii) approval of a

prospectus by the Financial Supervisory Authority of Norway.

This information is published in accordance with the requirements of the

Continuing Obligations.

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

Oslo, 25 February 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".