Nordic Mining ASA — Share Issue/Capital Change 2016

Dec 20, 2016

New share capital registered

New share capital registered

Tranche one of the Private Placement in Nordic Mining is now completed and the

new shares will be listed on Oslo Axess.

Reference is made to stock exchange notice 16 December 2016 regarding the

Private Placement in Nordic Mining. The first tranche of the Private Placement

consisting of 6,378,666 new shares was done at a subscription price of NOK 3.10

per share. The par value of the issued shares is NOK 0.60. Nordic Mining's share

capital was increased by NOK 3,827,199.60.

The capital increase has today been registered with the Norwegian Register of

Business Enterprises. Nordic Mining's share capital is currently NOK

55,550,480.40 divided into 92,584,134 shares, each with a par value of NOK 0.60.

The new shares will be tradable when they have been transferred to the VPS

accounts of the investors; such transfer is expected to be executed today, 20

December 2016.

The second tranche of the Private Placement is subject to approval from the

general meeting to be held 10 January 2017, ref. stock exchange notice 19

December 2016.

Clarksons Platou Securities AS is appointed manager and Kvale Advokatfirma is

legal advisor for the transaction.

For further information, please contact CFO Lars K. Grøndahl, telephone +47 901

60 941.

Oslo, 20 December 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 a large

-scale project development at Engebøfjellet in Sogn and Fjordane where the

Company has rights and permits to a substantial eclogite deposit with rutile and

garnet. Permits for the project have been granted by the Norwegian government.

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 with ticker symbol "NOM".