NORDIC RESOURCES LTD — Capital/Financing Update 2022

Dec 21, 2022

NORDIC GEARS UP FOR 2023 DRILL CAMPAIGN WITH KEY APPOINTMENTS AND A SECOND RIG

Appointment of highly experienced nickel exploration team and acceleration of drilling plans with second drill rig secured for the Pulju Nickel Project in Finland

HIGHLIGHTS

• Nordic appoints expert technical team in Finland and Australia with unparalleled nickel exploration experience.

• Finnish exploration team led by senior geologist, Juho Haverinen, who has been instrumental in recent nickel-copper discoveries in the Central Lapland Greenstone Belt (CLGB) of Finland.

• The Finnish team is supported by Nordic’s Australian team led by nickel expert and mining executive, Julian Hanna, and experienced geologist, Dr Lachlan Rutherford.

• • The Company has confirmed a second diamond drill rig, to commence in mid January also, to rapidly advance its exploration program at the Pulju project.

In preparation for its upcoming exploration campaign commencing in January 2023, nickel sulphide explorer Nordic Nickel Limited (ASX: NNL ; Nordic, or the Company ) has appointed a highly experienced nickel exploration technical team in Finland and Australia and secured a second diamond drill rig to rapidly advance its flagship Pulju Nickel Project in northern Finland.

The 2023 campaign, across multiple targets at the Hotinvaara Prospect, will see Nordic drill continuously for 14 months as it embarks on a potentially transformational exploration effort.

To support this strategy, highly regarded Finnish nickel exploration geologist Juho Haverinen has been appointed as Head of Exploration and will oversee the advancement of Nordic’s exploration plans at the Company’s nickel exploration projects in the CLGB.

Mr Haverinen will be supported by Chief Geophysicist, Markku Montonen, and Project Geologist, Jeka Pihko, both of whom have extensive nickel exploration experience in Finland, together with access to additional field geological expertise as required through the Company’s geological consulting partner, Magnus Minerals, where Mr Haverinen also remains Head of Exploration.

Nordic’s Australian team is supported by Julian Hanna as a Geological Consultant (as previously announced[1] ) and Dr Lachlan Rutherford as Technical Consultant, both of whom are working closely with the Finnish Team and Magnus Minerals to advance the Company’s exploration plans in Finland.

The Company has also now secured the exclusive use of a second diamond drill rig which will be delivered to the Hotinvaara Prospect in mid-January 2023 and will be used to test some of the many shallower, geophysical electromagnetic (EM) anomalies detected during the recent downhole EM surveys[2] over the coming months.

Nordic Nickel Managing Director Todd Ross said: “These key appointments and securing the second drill rig represent exciting developments ahead of our upcoming exploration program and will allow us to rapidly unlock the vast potential of the Pulju Project.”

1 ASX release “Julian Hanna joins Nordic Nickel Technical Team”, 1st September, 2022. 2 ASX release “Downhole EM Results Accelerate Pulju Drill Program”, 29th November, 2022.

Finnish Technical Team

Head of Exploration, Juho Haverinen

Mr Haverinen has over 10 years’ experience in planning and overseeing mineral exploration in Finland. As the current Head of Exploration for Nordic’s partner company, Magnus Minerals Oy, Mr Haverinen has significant experience in Finland conducting exploration joint ventures with major multinational mining companies. Mr Haverinen also sits on the Board of the Company.

Mr Haverinen was previously a Member of the Board of the Finnish Mining Association (FinnMin) from 2016-21 and holds both BSc and MSc degrees in Geology from the University of Helsinki.

Project Geologist, Jeka Pihko

Ms Pihko has been working for Magnus Minerals in greenfield base metal exploration in the CLGB for over 10 years. During this time, she has had the opportunity to work on several Joint Venture projects located in different parts of the CLGB with major mining companies.

Ms Pihko has an MSc in Geology from the University of Helsinki (2018) and will be responsible for the day-to-day project management, planning, logistics and geological analysis and interpretation of Nordic’s exploration activities in Finland.

Chief Geophysicist, Markku Montonen

Mr Montonen started his career in base metal exploration in 2011 and graduated with an MSc in Geophysics in 2012 from the University of Helsinki.

For most of his career, Mr Montonen has in nickel exploration in the Central Lapland Greenstone Belt in Finland and been involved in two multi-year joint venture projects, operated and handed over by Magnus Minerals, where new base metal deposits were successfully delineated.

As Chief Geophysicist, Mr Montonen will be responsible for leading the geophysical programs at Nordic’s flagship Pulju Project and its Maaninkijoki 3 joint venture project.

Australian Technical Team

Geological Consultant, Julian Hanna

Mr Hanna has more than 35 years’ experience in exploration, project development and mining and has held senior roles in nickel, copper and gold companies with projects in Australia, Botswana, Canada and Finland.

Mr Hanna is engaged as technical advisor to the Managing Director as the Company’s exploration program progresses at the Pulju Project and is working closely with the Finnish Technical Team led by Juho Haverinen and Magnus Minerals.

Technical Consultant, Dr Lachlan Rutherford

Dr Lachlan Rutherford was awarded a Doctorate of Philosophy (PhD) in Geology in 2006 and a Masters of Business Administration (MBA) in 2011 from the University of Adelaide and has extensive mineral exploration, corporate development, project management and corporate experience working with junior and mid-tier exploration companies.

Dr Rutherford has industry experience throughout Australia, southwestern U.S.A. (California and Nevada), Spain and Finland. Lachlan has worked on several ore deposit types, including magmatic

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Ni-Cu-PGE, porphyry Cu-Mo-Au, Fe-oxide Cu-Au, SEDEX, tungsten, polymetallic skarn and orogenic Au.

Dr Rutherford is a Member of the Australasian Institute of Mining and Metallurgy and provides exploration, project management and geological interpretation and analysis support to the management of Nordic Nickel, working alongside and supporting the activities of the Finnish Technical Team in-country.

Authorised for release by: Todd Ross – Managing Director

For further information please contact:

Nordic Nickel

Todd Ross – Managing Director

T: + 61 416 718 110

E: info@nordicnickel.com

W: nordicnickel.com

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