NORDIC RESOURCES LTD — Capital/Financing Update 2023

Jan 16, 2023

BHP SELECTS NORDIC NICKEL TO PARTICIPATE IN ITS INAUGURAL XPLOR PROGRAM

Innovative accelerator program designed to support early-stage exploration companies looking for critical minerals required for the global energy transition

HIGHLIGHTS

• Nordic has been selected to participate in the 2023 BHP Xplor cohort.

• BHP will provide Nordic with US$500,000 in non-dilutive funding to support and accelerate its exploration plans during the Xplor Program period.

• The Xplor Program provides participants not only with funding, but also with full access to BHP’s deep expertise and global partnerships.

Nordic Nickel Limited (ASX: NNL ; Nordic, or the Company ) is pleased to advise that, following a rigorous and thorough selection process, it has been selected to participate in the inaugural BHP Xplor Program, which will assist the Company to advance its exploration plans at its flagship Pulju Nickel Project in northern Finland.

BHP Xplor is a cohort-based accelerator program designed to support early-stage mineral exploration start-ups to find critical resources, such as copper and nickel, required to drive the global energy transition.

BHP Xplor merges concepts from both venture-capital and early-stage accelerators, to establish a fit-for-purpose exploration portfolio of innovative, early-stage mineral exploration companies and helps drive their exploration campaigns. The program provides candidates with a one-off, nondilutive grant of US$500,000, together with in-kind services, mentorship, networking opportunities with industry and investors and connections. The grant is once off and there are no obligations or commitments on Nordic Nickel beyond the conclusion of the Xplor Program.

The Xplor Program is designed to create disruptive results in copper and nickel exploration by identifying new concepts, leveraging new data and testing opportunities at a much faster pace than discoveries to date.

Nordic intends to use this additional US$500,000 during its recently commenced 2023 drill program to fund a number of deeper holes to test the known EM targets that appear to be located near the base of the ultramafic cumulate layer at the Hotinvaara nickel Prospect, for “Sakatti-style” massive sulphide accumulations.

BHP Xplor Program, Vice President, Sonia Scarselli said: “We are amazed by the diversity and quality of the submissions we reviewed and selected. We are confident that the BHP Xplor program will support the companies chosen to accelerate their concepts and ideas, to help take them to the next level.”

Nordic Nickel Managing Director Todd Ross said: “We are excited to have been selected to participate in the BHP’s Xplor cohort for 2023. This validates the quality and potential of our flagship Pulju Nickel Project in northern Finland, where we are targeting the potential for Tier-1 nickel discoveries in an under-explored greenstone belt with proven geological potential for large-scale critical mineral deposits.

“The combination of the extensive historical drilling database and drill core from the Outokumpu era that Nordic has been able to secure, together with the Company’s modern geophysical exploration, in particular the recent downhole EM survey data from the re-opened drill-holes, has put us in an enviable position from a nickel exploration perspective, with numerous substantial drill targets now being prioritised. This combined with our world-class technical team means that the Company is ideally poised to make one or more meaningful discoveries as we commence our maiden drilling program this month.

“The non-dilutive funding provided by BHP, together with the ability to access their world-class networks and expertise, will put Nordic Nickel in an exceptional position to unlock the full potential of this asset over the next 12 months and beyond.”

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

Media Contact

Nicholas Read – Read Corporate

T: + 61 419 929 046

E: nicholas@readcorporate.com.au

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