Nordic Mining ASA — Share Issue/Capital Change 2014

Nov 17, 2014

Substantial oversubscription of the Rights Issue

Substantial oversubscription of the Rights Issue

Strong interest in Nordic Mining's capital increase evidences a broad

shareholder support to secure realization of the Engebø rutile project.

Up to 28,000,000 new shares at a subscription price of NOK 0.60 per

share have been offered through a Rights Issue in Nordic Mining. The

subscription period expired Friday 14 November 2014 at 16.30 (CET). A

preliminary counting of the subscriptions indicates that the issue has

been substantially oversubscribed. The gross proceeds from the Rights

Issue will be NOK 16.8 million.

CEO Ivar S. Fossum comments:

"Yet again the shareholders have expressed their support and ability to

move the Engebø rutile project towards realization. The strong interest

in the rights issue clearly shows the shareholders' confidence that the

government will follow up its program to strengthen the Norwegian

mineral industry. The shareholder support confirms the significant

potential related to industrial production of high quality titanium

feedstock in Naustdal."

CFO Lars K. Grøndahl comments:

"We are very pleased with the result from the Rights Issue. Generally,

investors are monitoring business plans and performance with a critical

view and the result sends a clear message that the plans and solutions

for Engebø hold high social and environmental standards."

Allocation of shares in the Rights Issue will be resolved by Nordic

Mining's Board of Directors in accordance with the allocation criteria

set out in the Prospectus dated 24 October 2014 and the Supplemental

Prospectus dated 5 November 2014. The final result of the Rights Issue

is expected to be published 18 November 2014, and letters to investors

will be sent the same day giving notification of allocated new shares

and the corresponding amount to be paid by each subscriber.

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

+47 901 60 941.

Oslo, 17 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.