Nordic Mining ASA - Capital/Financing Update 2022

Sibanye-Stillwater closes last EUR 5 million tranche of equity investment in Keliber

Reference is made to the stock exchange notice on 23 February 2021 regarding the

agreement between Keliber Oy and Sibanye-Stillwater Limited ("SSW") for an

initial phased equity investment of EUR 30 million. In line with the agreement

the final tranche of SSWs initial investment was closed on 14 March 2022 with

SSW subscribing for 125,000 shares for EUR 5 million. This increases SSW's

shareholding to approximately 30%.

Nordic Mining owns after SSWs last tranche of the initial EUR 30 million

investment approximately 12% of the shares in Keliber.

Keliber's press release is available at: https://www.keliber.fi/en/news/news

-releases-and-publications/0E169B44799B9C73/

Oslo, 17 March 2022

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 12.0% 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".

AI assistant