Nordic Mining ASA — Director's Dealing 2014

Jun 27, 2014

Incentive program for leading employees and resource persons

Incentive program for leading employees and resource persons

On 27 May 2014, the General Meeting of Nordic Mining resolved to renew

the incentive program for leading employees and qualified resource

persons. The new program is based on the same principles as the previous

program which terminated 27 May 2014. The new option program has a

duration of two years.

The Board of Directors was authorised to award options that in total

give the right to subscribe for up to 14 million new shares in Nordic

Mining. Further, the Board was authorised to determine the subscription

price with a minimum subscription price similar to the closing price of

the Nordic Mining share on 27 May 2014. The closing price on 27 May 2014

was NOK 0.90 per share.

On 26 June 2014, a total of 10 750 000 options were awarded to leading

employees and resource persons. 8 250 000 options were awarded at a

subscription price of NOK 0.90 per share. The remaining 2 500 000

options were awarded at a subscription price of NOK 1.80 per share.

The following primary insiders have been awarded options:

Ivar S. Fossum, CEO, has option to buy 3 000 000 shares in Nordic Mining

at a price of NOK 0.90 per share. In addition, Fossum has option to buy

1 500 000 shares in Nordic Mining at a price of NOK 1.80 per share. As

per the date of this stock market release, Fossum has 1 525 877 shares

in Nordic Mining in addition to the options.

Lars K. Grøndahl, CFO, has option to buy 2 000 000 shares in Nordic

Mining at a price of NOK 0.90 per share. In addition, Grøndahl has

option to buy 500 000 shares in Nordic Mining at a price of NOK 1.80 per

share. As per the date of this stock market release, Grøndahl has 4 700

000 shares in Nordic Mining in addition to the options. The shares are

owned through the company Magil AS.

Mona Schanche, Exploration manager, has option to buy 2 000 000 shares

in Nordic Mining at a price of NOK 0.90 per share. In addition, Schanche

has option to buy 500 000 shares in Nordic Mining at a price of NOK 1.80

per share. As per the date of this stock market release, Schanche has

132 306 shares in Nordic Mining in addition to the options.

One option can be converted into one share in Nordic Mining ASA. All

options are fully vested on award and valid till 27 May 2016.

The full list of awarded options is enclosed with this stock market

release.

For questions please contact CFO Lars K. Grøndahl, telephone +47 901

60 941.

Oslo, 27 June 2014

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 in Norway

and internationally. The Company's project portfolio is of a high

international standard and holds a significant economic potential. The

Company's assets are mainly in the Nordic region.

Through the subsidiary Nordic Rutile AS Nordic Mining is undertaking

large-scale project development at Engebøfjellet in Sogn and Fjordane

where the Company has rights to a substantial eclogite deposit with

rutile and garnet. Nordic Mining has rights for exploration and

production of high-purity quartz in Kvinnherad in Hordaland and develops

the project through its subsidiary Nordic Quartz AS. Nordic Mining's

associated company Keliber Oy in Finland plans to start mining of

lithium bearing spodumene and production of lithium carbonate. Nordic

Mining holds exploration rights in the Øksfjord region in Troms and

Finnmark where the Company has discovered a prospective area of sulphide

mineralisation. Through the subsidiary Nordic Ocean Resources AS, Nordic

Mining is exploring opportunities related to seabed mineral resources.

Nordic Mining is listed on Oslo Axess.