Nordic Mining ASA : Final results of the Rights Issue in Nordic Mining

The subscription period in the Rights Issue in Nordic Mining expired at 17:30 (CET) on 23 January 2012. At the end of the subscription period, Nordic Mining had received subscriptions for a total of 50,593,368 new shares. 40,000,000 new shares were offered, and the Rights Issue was consequently oversubscribed by approximately 26.3%.

The Board of Directors of Nordic Mining has today approved the final allocation of the shares offered in the Rights Issue based on the allocation criteria set out in the prospectus dated 6 January 2012. A total of 40,000,000 new shares have been allocated to holders of subscription rights. No allocation has been made to subscribers without subscription rights. 34,632,366 new shares have been allocated to subscribers on the basis of exercised subscription rights. 5,367,634new shares have been allocated to holders of subscription rights as a result of oversubscription.

Letters giving notification of allocated new shares and the corresponding subscription amount to be paid by each subscriber are expected to be distributed today. Payment for the allocated shares falls due on 27 January 2012.

The new shares may not be transferred or traded before they are fully paid and the share capital increase pertaining to the Rights Issue has been registered with the Norwegian Register of Business Enterprises. It is expected that the share capital increase will be registered in the Norwegian Register of Business Enterprises on or about 2 February 2012 and that the new shares will be transferred to the VPS accounts of the subscribers on the same day.

Through the Rights Issue, Nordic Mining will receive proceeds of NOK 36,000,000 before deduction of transaction costs. Following registration of the share capital increase in the Norwegian Register of Business Enterprises, the share capital of Nordic Mining will be NOK 18,547,009.10 divided into 185,470,091 shares, each with a nominal value of NOK 0.10.

Swedbank First Securities is manager for the Rights Issue.

Nordic Mining ASA

Nordic Mining ASA ("Nordic Mining" or "the Company") is a resource company with operating activity and focus on high-end industrial minerals and metals in Norway and internationally. The Company's project portfolio is of high international standard and holds a significant economic potential. Nordic Mining has rights to advanced EM-applications (electro magnetic technology) for mineral and metals exploration onshore and offshore. The Company's assets are mainly in the Nordic region.

The Company has production of anorthosite products through its subsidiary Gudvangen Stein AS ("Gudvangen Stein"). Further, Nordic Mining is undertaking large-scale project development at Engebøfjellet in Sogn and Fjordane where the Company has rights to a substantial eclogite deposit with rutile and garnet. Nordic Mining has rights for exploration and production of high-purity quartz in Kvinnherad municipality in Hordaland county. Through its subsidiary Keliber Oy ("Keliber") in Finland, Nordic Mining plans to start mining of lithium bearing spodumene and production of lithium carbonate.

Nordic Mining is listed on Oslo Axess.

Oslo, 25 January 2012
Nordic Mining ASA