Nordic Mining ASA — Remuneration Information 2016

Jul 8, 2016

Incentive program for leading employees and resource persons

Incentive program for leading employees and resource persons

On 18 May 2016, 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

18 May 2016. The duration of the new option program is two years.

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

right to subscribe for up to 17 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 18

May 2016. The closing price on 18 May 2016 was NOK 0.68 per share.

As per today, a total of 16 180 000 options have been awarded to leading

employees and resource persons. 12 580 000 options have been awarded at a

subscription price of NOK 0.68 per share. The remaining 3 600 000 options have

been awarded at a subscription price of NOK 1.36 per share.

The following primary insiders have been awarded options:

Ivar S. Fossum, CEO, has option to buy 3 600 000 shares in Nordic Mining at a

price of NOK 0.68 per share. In addition, Fossum has option to buy 1 800 000

shares in at a price of NOK 1.36 per share. As per the date of this stock market

release, Fossum owns 2 623 092 shares in Nordic Mining.

Lars K. Grøndahl, CFO, has option to buy 2 800 000 shares in Nordic Mining at a

price of NOK 0.68 per share. In addition, Grøndahl has option to buy 600 000

shares at a price of NOK 1.36 per share. As per the date of this stock market

release, Grøndahl owns 7 800 000 shares in Nordic Mining through the company

Magil AS.

Mona Schanche, Exploration Manager, has option to buy 2 400 000 shares in Nordic

Mining at a price of NOK 0.68 per share. In addition, Schanche has option to buy

600 000 shares at a price of NOK 1.36 per share. As per the date of this stock

market release, Schanche owns 204 317 shares in Nordic Mining.

Thomas B. Addison, General Manager Nordic Rutile AS, has option to buy 2 400 000

shares in Nordic Mining at a price of NOK 0.68 per share. In addition, Addison

has option to buy 600 000 shares at a price of NOK 1.36 per share. As per the

date of this stock market release, Addison owns no shares in Nordic Mining.

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

fully vested on award and valid till 18 May 2018.

The full list of awarded options is shown below.

Name Position Number Price (NOK)

Ivar S. CEO 3 600 000 0.68

Fossum* 1 800 000 1.36

Lars K. CFO 2 800 000  0.68

Grøndahl*    600 000 1.36

Mona Exploration Manager 2 400 000       0.68

Schanche*    600 000 1.36

Thomas B. General Manager, 2 400 000 0.68

Addison* Nordic Rutile AS    600 000 1.36

Fredrik Co-owner,    400 000 0.68

Søreide Nordic Ocean Resources AS

Rune B. Advisor, geology    500 000 0.68

Larsen

Jon Landowner, Kvinnherad quartz deposit    240 000 0.68

Svoldal

Kåre Landowner, Kvinnherad quartz deposit    240 000 0.68

Eikeland

Total 16 180 000

number

* Primary insider in Nordic Mining ASA

For questions please contact CFO Lars K. Grøndahl, telephone +47 901 60 941.

Oslo, 8 July 2016

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 high international standard and holds a

significant economic potential. The Company's assets are in the Nordic region.

Through the subsidiary Nordic Rutile AS Nordic Mining is undertaking large-scale

project development at Engebø in Sogn and Fjordane where the Company has rights

to a substantial eclogite deposit with rutile and garnet. Permits for the

project were granted by the Norwegian government in April 2015. 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 on the Øksfjord Peninsula 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.