Rana Gruber ASA

Report Publication Announcement • Dec 9, 2021

Rana Gruber ore reserve estimate

Rana Gruber ore reserve estimate

Rana Gruber has today announced their first update of the company's ore reserves estimate.

Micon International Co Limited (Micon) has been requested by Rana Gruber AS to prepare an independent Technical Report on the Mineral Reserves of the Dunderland Valley Iron Ore Project, Norway, held by the Company, which will form part of the prospectus to be used for listing on the Oslo Stock Exchange.

This Technical Report has been prepared in accordance with the Pan-European Reserves and Resources Reporting Committee (PERC) Standard for the Public Reporting of Exploration Results, Mineral Resources and Mineral Reserves Reporting Standard (2021).

See attachment for more information

For more information, please contact:

Gunnar Moe, Chief Executive Officer: +47 941 47 650

Erlend Høyen, Chief Financial Officer: +47 902 02 741

About Rana Gruber:

Rana Gruber is a Norwegian sustainable iron ore producer and supplier established in 1964, with operations based on more than 200 years of mining experience. The Company's products are based on own natural mineral resources which are upgraded and tailored for applications and exported to its customers worldwide. Rana Gruber produces and sells iron ore concentrate, primarily serving steel producers and participants in the chemical industry. The subsidiary Rana Gruber Mineral AS produces and sells micronized iron oxides and other dissemination of iron ore, and primarily serves paint manufactures and participants in the building- and automotive industries. Rana Gruber has about 300 employees and a production capacity of 1.8 million metric tons of iron ore concentrates and specialty products.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act