Communique from Nordic Mines' Annual General Meeting 2014

PRESS RELEASE 27 JUNE 2014

Communique from Nordic Mines' Annual General Meeting 2014

The Annual General Meeting held in Nordic Mines AB (publ) ("Nordic Mines" or the "Company") today 27 June 2014, at Drabanten företagshotell, Bangårdsgatan 13, in Uppsala, resolved in accordance with the proposed resolutions.

Resolution on the adoption of balance sheet and income statement, disposal of the result and discharge from liability

The General Meeting resolved to adopt the balance sheet and the income statement as well as the consolidated income statement and the consolidated balance sheet for the financial year 2013.

The General Meeting resolved that no dividend will be paid for the financial year 2013 and that the accumulated debt is allocated to a new account with a transferred debt of SEK 57,368 thousand.

The General Meeting granted each of the members of the Board of Directors and the managing director discharge from liability for the financial year 2013.

Resolution on the number of Board members

The General Meeting resolved that the number of Board members shall be three with no deputy members and that the Board of Directors shall have one auditor with no deputy auditor.

Resolution on fees to the Board of Directors and auditor

The General Meeting resolved that remuneration payable to the Board of Directors shall be in altogether SEK 700,000, of which SEK 300,000 shall be payable to the Chairman of the Board of Directors and SEK 200,000 to each of the other members of the Board of Directors.

Further, The General Meeting resolved that compensation to the auditor shall be paid on the basis of reasonable amount pursuant to invoice.

Election of Board members, the chairman of the Board of Directors and auditor

The General Meeting resolved to re-elect Helve Boman, Krister Söderholm and Lennart Schönning to the Board of Directors for the period up until the end of the next Annual General Meeting, and to re-elect Lennart Schönning as the Chairman of the Board of Directors.

The General Meeting further resolved to re-elect Öhrlings PricewaterhouseCoopers AB as auditor of the Company, with the registered auditor Martin Johansson as auditor in charge.

Resolution on appointment of a Nomination Committee

The General Meeting resolved to appoint a Nomination Committee with the assignment to, up until the next Annual General Meeting, prepare proposals regarding resolutions on Chairman of the Annual General Meeting, number of members of the Board of Directors to be elected by the General Meeting, election of Chairman and other members of the Board of Directors as well as auditor, remuneration to the Board of Directors and the auditor, remuneration to committee work, where applicable, and principles for appointment of the Nomination Committee. Each of the two largest shareholders of the Company shall, prior to 30 September 2014, have the right to appoint one representative each. These two shall together appoint two additional persons to be part of the Nomination Committee.

Resolution on principles for remuneration to senior management

The General Meeting resolved to adopt principles for remuneration to the managing director and other senior management of the Company. The complete principles are set forth in the Board of Directors' proposal.

Annual remuneration consists of fixed and variable remuneration (cash) where the variably remuneration is limited in relation to the fixed remuneration and dependent on that certain established targets are fulfilled. The principles apply for employment agreements entered into subsequent to the resolution of the General Meeting and also in such cases where changes are made to existing terms after such point in time. The proposal of the Board of Directors is based on the Company's remuneration level and remuneration structure for senior management to be in line with market practice.

Resolution on authorisation

The General Meeting resolved to authorise the Board of Directors to resolve on issue of warrants without preferential rights for the existing shareholders. The authorisation is part of the Company's work with restarting the operations at the Laiva mine and to end the ongoing company reorganisation in Sweden and Finland.

For further information, please contact:

Lennart Schönning, Chairman, +46 (0) 18 84 34 500

Thomas Cederborg, CEO, +46 (0) 708 480 521

Jonatan Forsberg, CFO, +46 (0) 761 051 310

For further information regarding Nordic Mines, please see; www.nordicmines.se.

Uppsala, 27 June 2014

On behalf of Nordic Mines AB (publ)

The Board of Directors

The information above has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publishing at 16:00 CET on 27 June 2014.

Nordic Mines is a Nordic mining and exploration company whose vision is to be one of the leading Gold producers in the Nordics and Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in the end of 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and in Sweden. Nordic Mines was established 2005 and has almost 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm.