Nordic Mining ASA — Share Issue/Capital Change 2011

Jan 21, 2011

Approved prospectus and listing of new shares

In stock exchange announcements 18 and 19 January 2011 Nordic Mining has

informed of successful private placement.

Following a resolution by the board of directors of 17 January 2011, Nordic

Mining will conduct a subsequent offering of up to 7,500,000 shares that can be

subscribed for by shareholders who owned shares in the company per 17 January

2011 (as registered in the VPS per 20 January 2011), and who did not participate

in the private placement.

The Financial Supervisory Authority of Norway (Finanstilsynet) has today

approved the company's prospectus regarding:

-          Listing on Oslo Axess of 12,500,000 new shares in Nordic Mining ASA

issued in connection with a private placement of shares completed on 17 January

2011 at a subscription price per share of NOK 1.45

-          Subsequent offering of up to 7,500,000 shares at a price of NOK 1.45

per share with subscription rights for shareholders owned shares in the company

per 17 January, and who did not participate in the private placement.

There will be issued 7,500,000 non-tradable subscription rights. 14.0056 shares

owned by eligible shareholders will give one (1) subscription right. One

subscription right gives the right to subscribe for one new share in the

subsequent offering. Subscription in excess of allocated subscription rights

(oversubscription) is allowed.

The subscription price is NOK 1.45 per share. The subscription period is from

24 January 2011 to 14 February at 17:30 (CET). Subscription rights not used to

subscribe for offer shares before the expiry of the subscription period will be

of no value and will lapse without compensation to the holder.

Eligible shareholders will be notified in a separate letter. Please refer to the

prospectus for further information.

The prospectus including subscription form is enclosed and will be published on

the company's website www.nordicmining.com, and on Carnegie ASA's website

www.carnegie.no. The prospectus is also available at the office of the company

and from the Manager:

Carnegie ASA, Stranden 1, Aker Brygge, N-0106 Oslo, Norway

The Company's share capital is NOK 13,797,009.10, divided into 137,970,091

shares, each with a nominal value of NOK 0.10.

For questions please contact CFO Lars K. Grøndahl on telephone +47 90 16 09 41.

Oslo, 21 January 2011

Nordic Mining ASA

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1481534]