Nordic Mining ASA — Share Issue/Capital Change 2014

Nov 18, 2014

Final result of the Rights Issue in Nordic Mining

Final result of the Rights Issue in Nordic Mining

Allocation of 28,000,000 new shares in the Rights Issue has been

approved by the Board of Directors. The Rights Issue was approximately

86% oversubscribed.

The subscription period in the Rights Issue in Nordic Mining expired at

16:30 (CET) on 14 November 2014. At the end of the subscription period,

Nordic Mining had received subscriptions for a total of 51,986,586 new

shares. 28,000,000 new shares were offered, and the Rights Issue was

consequently oversubscribed by approximately 86%.

The Board of Directors of Nordic Mining has approved the final

allocation of the shares offered in the Rights Issue based on the

allocation criteria set out in the Prospectus dated 24 October 2014. A

total of approximately 25.6 million new shares have been allocated to

subscribers on the basis of exercised subscription rights. The remaining

2.4 million new shares have been allocated to holders of subscription

rights as a result of oversubscription. No allocation has been made to

subscribers without subscription rights.

Letters giving notification of allocated new shares and the

corresponding subscription amount to be paid by each subscriber will be

distributed today. Payment for the allocated shares falls due on 20

November 2014.

The new shares may not be transferred or traded before they are fully

paid and the share capital increase pertaining to the Rights Issue has

been registered with the Norwegian Register of Business Enterprises. It

is expected that the share capital increase will be registered in the

Norwegian Register of Business Enterprises on or about 25 November 2014

and that the new shares will be transferred to the VPS accounts of the

subscribers on the same day.

Through the Rights Issue, Nordic Mining will receive proceeds of NOK

16.8 million before deduction of transaction costs. Following

registration of the share capital increase in the Norwegian Register of

Business Enterprises, the share capital of Nordic Mining will be NOK

30,850,480.50 divided into 308,504,805 shares, each with a nominal value

of NOK 0.10.

Swedbank is appointed manager and Kvale Advokatfirma DA is legal advisor

for the transaction.

For further information please contact CFO Lars K. Grøndahl, telephone

+47 901 60 941.

Oslo, 18 November 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.