Nordic Mining ASA - Share Issue/Capital Change 2021

Keliber secures EUR 40 million investment from leading international mining company

Keliber Oy and leading international mining company Sibanye-Stillwater Limited

(www.sibanyestillwater.com) have entered into an investment agreement for an

initial phased equity investment of EUR 30 million for approximately 30%

shareholding in Keliber. In addition, existing shareholders will be offered to

subscribe for shares for up to EUR 10 million on the same terms as the

investment from Sibanye-Stillwater, securing Keliber bridge financing of in

total EUR 40 million.

Sibanye-Stillwater plans to play a key role as an industrial anchor investor in

the project financing planned for mid-2022, and has in accordance with the

investment agreement the option to secure a majority shareholding in Keliber,

following the completion of the updated feasibility study.

"With our first investment in Keliber already in 2008, Nordic Mining has been a

pioneer in developing production of battery grade lithium in Europe. We are

enthusiastic about Keliber having teamed up with an experienced industrial

partner like Sibanye-Stillwater, and that Keliber now will have sufficient

financing towards construction", says CEO Ivar S. Fossum.

Nordic Mining holds 16.3% of the shares in Keliber Oy.

Keliber's press release is available at: https://www.keliber.fi/en/news/news

-releases-and-publications/0A9BCC0C9808067A/

For further information, please contact CEO Ivar S. Fossum, telephone +47 930

96 850.

Oslo, 23 February 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".

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