Nordic Mines' share receives observation status

Not for distribution, directly or indirectly, in or into the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Singapore or South Africa or in any other jurisdiction where the distribution of this press release would be unlawful.

The English text is an unofficial translation of the Swedish original, and in the event of any discrepancies between the Swedish text and the English translation the Swedish text shall take precedence.

PRESS RELEASE, 18 November 2015

Nasdaq Stockholm have, after dialogue with Nordic Mines AB (publ) ("Nordic Mines" or the "Company") decided to temporarily give Nordic Mines' share observation status in anticipation of payments for the rights issue for existing shareholders (the "Rights Issue").

As set forth in the press release published on Friday 13 November 2015 and the supplementary prospectus published on Monday 16 November 2015, the Company has entered into an agreement with Lau Su Holding AB (the "Investor") pursuant to which such company has committed to the subscription of 233,500,000 new shares for a total of SEK 46,700,000. The commitment is not secured, but the Indian company Royal Refinery Private Limited has entered into a surety undertaking for its fulfillment. Pursuant to the undertaking, payment for the subscribed shares shall be made no later than 28 November 2015, which date has been agreed due to the requirement of a permit for export of capital from India. Conditional on the undertaking being fulfilled (including due payment), the Investor shall, as consideration for the undertaking, be entitled to a share based compensation corresponding to 114,419,495 new shares (which shall be paid for by set off, based on the subscription price in the Rights Issue, of a cash remuneration of SEK 22,883,899). The undertaking has been procured by the Company in order to ensure reaching a satisfactory subscription rate in the Rights Issue. The agreement, and the therein included commitment fee, has been negotiated between the parties. Several other investors have been contacted and also other forms of financing have been sought. The agreement and the conditions therein have thereby been tested against the market.

As set forth in the Company's prospectus, which was approved and registered by the Swedish Financial Supervisory Authority on Friday 23 October and published by the Company the same date, the Company (as of the date of the prospectus) does not have access to sufficient working capital during the next twelve months. The deficit is expected to arise before the year end and if the Company fails with a capital raising through the Rights Issue it is most likely that it could lead to a new corporate reorganization, bankruptcy or other liquidation of the Company.

The prospectus and the supplementary prospectus is available on Nordic Mines' website (www.nordicmines.com) and Evli Bank's website (www.evli.com).

Stockholm, 18 November 2015
Nordic Mines AB (publ)

For additional information, please contact:

Eva Kaijser, CEO, +46 (0)709 320 901
Jonatan Forsberg, CFO, +46 (0) 76 105 13 10

For more information about Nordic Mines, please visit; www.nordicmines.se.

The information above has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 08.00 a.m. (CET) on 18 November 2015.

Nordic Mines is a Nordic mining and exploration company. The Company was mining gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold deposits are among the largest in the Nordic region. Nordic Mines is a member of SveMin and applies its reporting regulations for public mining and exploration companies. The Nordic Mines share is traded on the Nasdaq Stockholm Small Cap list. See also www.nordicmines.se.

IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in Nordic Mines. Any invitation to the persons concerned to subscribe for shares in Nordic Mines will only be made through the prospectus to be published by Nordic Mines on its web site in due course.

This press release may not be published or distributed, directly or indirectly in or into United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, registrations or other actions in addition to what follows from Swedish law. Nor may the information in this press release be forwarded, reproduced or disclosed in such a manner that contravenes such restrictions or would require such requirements. Failure to comply with this instruction may result in a violation of applicable securities laws.

No subscription rights, OTAs or BTAs (interim shares) or new shares will be registered under the United States Securities Act of 1933 ("Securities Act") or securities legislation in any other state or other jurisdiction in the United States and may not be offered, subscribed, sold or transferred, directly or indirectly within the United States, other than pursuant to an exemption from the registration requirements of the Securities Act and in accordance with securities laws in relevant state or other jurisdiction in the United States.

This press release may contain forward-looking statements which reflect Nordic Mines' current view on future events and financial and operational development. Words such as "intend", "expect", "anticipate", "may", "believe", "plan", "estimate" and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties because they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the real outcome could differ materially from the forward-looking statements.

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