Nordic Mining ASA - M&A Activity 2021

Nordic Mining and Japanese trading house advance their agreement regarding offtake of rutile from Engebø

In January 2019 Nordic Mining ASA (the "Company") signed a Heads of Agreement

with a reputable Japanese trading house (the "Trading House") for offtake of

rutile and participation in the financing for the Engebø project. The parties

have today signed a term sheet for offtake of rutile, which subject to the

entering into of the final offtake agreement, will secure sales for the majority

of the annual production of rutile for the first five years of production.

The parties will start the process of finalizing the final offtake agreement,

which will be negotiated in parallel with negotiating the Trading House's

participation in the financing, confirming the parties' clear intention to

develop a long-term business cooperation, beyond the initial term of the offtake

agreement.

"The signing of the Term sheet represents an important confirmation of our long

-term cooperation on rutile supply and offtake, and as basis for financing of

the project", says CEO Ivar S. Fossum.

"We are very excited to mark another significant milestone towards development

of such long-life, environmentally-friendly source of quality rutile. We look

forward to enhancing further our long-term partnership with Nordic Mining", says

the Trading House.

For further information, please contact CEO Ivar S. Fossum, telephone +47 930

96 850.

Oslo, 5 July 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 14.3% 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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