Nordic Mining ASA — Major Shareholding Notification 2019

Sep 30, 2019

Primary insiders subscribe shares in the Rights Issue

Primary insiders subscribe shares in the Rights Issue

The following primary insiders have subscribed for shares in the ongoing Rights

Issue in Nordic Mining as follows:

+-----------+--------+------------+----------+-----------+----------------+

|Name |Position|Number of |Shares |Shares |Options in share|

| | |allocated |subscribed|owned prior|option scheme(1)|

| | |subscription| |to the | |

| | |rights | |transaction| |

+-----------+--------+------------+----------+-----------+----------------+

|Lars K. |Sr. |269,486 |175,000 |1,550,000 |400,000 |

|Grøndahl(2)|Advisor | | | | |

+-----------+--------+------------+----------+-----------+----------------+

|Eva |Board |16,362 |16,362 |94,110 |0 |

|Kaijser(3) |member | | | | |

+-----------+--------+------------+----------+-----------+----------------+

(1) Each option gives the right to subscribe for one share in Nordic Mining at a

subscription price of NOK 2.63 per share. The options must be exercised within

the earlier of date of the general meeting of Nordic Mining in 2022 and 30 June

2022

(2) The shares are subscribed through, and existing shares are owned by, the

company Magil AS

(3) The shares are subscribed through, and existing shares are owned by, the

company Fågelsangen AB

The subscription price is NOK 1.40 per share. Shares subscribed based on

subscription rights will be allocated to the subscriber.

Lars K. Grøndahl has sold 94,486 subscription rights at an average price of NOK

0.30 per subscription right.

Oslo, 30 September 2019