Nordic Mining ASA — Share Issue/Capital Change 2018

Nov 26, 2018

Allocation of options to primary insiders

Allocation of options to primary insiders

On 1 November 2018, the general meeting of Nordic Mining ASA ("Nordic Mining")

resolved an option program for leading employees and qualified resource persons

(the "Option Program").

The following primary insiders in Nordic Mining have today been awarded in total

3 million options pursuant to the Option Program as follows:

+------------------+------------------------+-------------+-------------+

|Name |Position |No of options|Shares owned1|

+------------------+------------------------+-------------+-------------+

|Ivar S. Fossum |CEO |1,050,000 |528,848 |

+------------------+------------------------+-------------+-------------+

|Birte Norheim |CFO |575,000 |29,815 (2) |

+------------------+------------------------+-------------+-------------+

|Lars K. Grøndahl |Sr. Advisor |400,000 |1,500,000 (3)|

+------------------+------------------------+-------------+-------------+

|Mona Schanche |VP Exploration |400,000 |34,053 |

+------------------+------------------------+-------------+-------------+

|Kenneth N. Angedal|Project Manager   Engebø|400,000 |38,000 |

+------------------+------------------------+-------------+-------------+

|Steinar Kleppe |Geologist |175,000 |3,143 |

+------------------+------------------------+-------------+-------------+

1                    Including shares allocated in the recent rights issue

2                    The shares are owned through the company Bino Consult AS

3                   The shares are owned through the company Magil AS

Each option gives the right to subscribe for one share in Nordic Mining. The

subscription price for each share shall be NOK 2.63 (i.e. equal to the 3-day

volume weighted average share price of Nordic Mining prior to the award date

plus 5 per cent).

The options will be vested and may be used to subscribe for shares in the

Company on the terms and conditions set out in the Option Program.

For further information please contact Birte Norheim, CFO, telephone +47 95 29

33 21.

Oslo, 26 November 2018

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.

Nordic Mining is undertaking a large-scale project development at Engebø on the

west coast of Norway 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. The definitive feasibility study was

initiated directly following completion of the prefeasibility study in October

2017. Nordic Mining's associated company Keliber completed the definitive

feasibility study for its lithium project in Finland in June 2018. Nordic Mining

has rights for exploration and production of high-purity quartz in Kvinnherad in

Norway. Further, the Company holds exploration rights at Reinfjord in northern

Norway where a prospective area of sulphide mineralisation has been discovered.

Nordic Mining is also exploring opportunities related to seabed mineral

resources.

Nordic Mining is listed on Oslo Axess with ticker symbol "NOM".