Nordic Mining ASA — Share Issue/Capital Change 2020

Apr 21, 2020

Cancellation of subsequent offering

Reference is made to the stock exchange notices on 28 January and 25 February 2020 regarding the completed private placement and the contemplated subsequent offering with a subscription price of NOK 2.00 pershare.

Since the extraordinary general meeting on 25 February 2020 where the Board of directors was given authorization to issue sharesto be used in the subsequent offering, the price of the share has, for an extended period of time and with substantial trading volume, traded below the subscription price in the planned subsequent offering. Consequently, existing shareholders wishing to avoid or reduce the dilutive effect of the private placement have had, and continue to have, the opportunity to purchase sharesin the open market at prices below the subscription price in the private placement.

On this basis, the Board of directors of Nordic Mining hastoday decided not to proceed with the subsequent offering. The company will publish a listing prospectusfor the sharesissued in the private placement.

For further information please contact Senior advisor Lars K. Grøndahl, telephone +47 90160941.

Oslo, 21 April 2020 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. The Company's project portfolio is of high internationalstandard and holdssigni<icant economic potential. The Company's assets are in the Nordic region.

Nordic Mining is undertaking ^a large-scale project development at Engebø on the westcoast of Norway where the Company hasrights and permitsto ^a substantial eclogite deposit with rutile and garnet. Nordic Mining also holds 16.3% of the sharesin Keliber Oy, which is developing ^a lithium project in Finland to become the <irst European producer of battery grade lithium hydroxide.

In addition, Nordic Mining holdsinterestsin other initiatives at variousstages of development. Thisincludes patented rightsfor ^a new technology for production of alumina and exploration of seabed minerals.

Nordic Mining islisted on Oslo Axesswith tickersymbol "NOM".