Nordic Mining ASA — Share Issue/Capital Change 2021

Mar 18, 2021

Nordic Mining ASA: Cancellation of subsequent offering

Reference is made to Nordic Mining ASA's (the "Company") stock exchange notices on 24 February 2021 regarding the completed private placement of up to 32,000,000 new shares in the Company (the "Private Placement") and a subsequent offering of 7,000,000 new shares (the "Subsequent Offering") at NOK 2.50 per share.

As announced in the stock exchange notice, completion of a subsequent offering is subject, inter alia, to the prevailing market price of the share. Following the Board of Directors resolution to carry out a subsequent offering the price of the share has, for an extended period and with substantial volume, traded below the subscription price in the planned subsequent offering.

Existing shareholders wanting to avoid or reduce the dilutive effect of the private placement have had, and continue to have, the opportunity to purchase shares in the open market at prices below the subscription price in the private placement and the contemplated subsequent offering.

The Board of Directors has as result decided not to proceed with the subsequent offering.

For further information, please contact CFO Christian Gjerde, telephone +47 98060909.

Oslo, 18 March 2021 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 international standard and holds 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. Nordic Mining also holds 16.3% of the shares in Keliber Oy, which is developing a lithium project in Finland to become the first European producer of battery grade lithium hydroxide.

In addition, Nordic Mining holds interests in other initiatives at various stages of development. This includes patented rights for a new technology for production of alumina and exploration of seabed minerals.

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