Nickel Mountain Group AB: NMG: First trading day excluding right to ADIAM dividend and adjustment of proposed profit appropriation in NMG annual report for 2013

Regulatory News:

· First trading day excluding right to ADIAM dividend

Nickel Mountain Group AB ("NMG”) (STO:NMG) hereby, for sake of clarity, informs the market, that according to previously distributed information, Monday June 2, 2014 is the first day when the NMG share on the Oslo Stock Exchange trades excluding the right to dividend of African Diamond AB-shares ("ADIAM”).

The record date for the dividend is June 4, 2014 and the last day of the NMG share trading including the dividend was last Friday, May 30, 2014.

· Adjustment of annual report 2013 Nickel Mountain Group

Given the challenging time plan for the ADIAM-dividend process described above, and in order to allow for at least a few days of trading of the NMG share including the right to said dividend, NMG decided to push forward the record date of the distribution of ADIAM-shares to 4th of June 2014. This implies that the board’s proposal to distribute the African Diamond shares will be presented and reaffirmed at the upcoming annual general meeting to be held on the 4th of June 2014, and the distribution will be based on and included in the annual report for 2013. This is just for formal reasons and will have no impact on the board’s previous proposal approved by the extraordinary general meeting on May 8, 2014 to distribute all the shares in African Diamond. The record date, June 4, 2014, for the right to receive dividend 1:1 (one share in African Diamond for each share in Nickel Mountain Group), as well as the other terms for the share distribution are unchanged. However, the above mentioned will have a minor impact on the formulation of the profit appropriation in the annual report for 2013 which will be adjusted accordingly. The adjusted wording of the profit appropriation in the annual report for 2013 is given below, and the additional information regarding the share distribution of African Diamond is available at the company´s website www.nickelmountain.se

New proposed wording of the profit allocation in the annual report for 2013: See attached Appendix; "Proposed allocation of the Company's result"

For and on behalf of the Board of Directors of Nickel Mountain Group AB

Torbjorn Ranta

Managing Director

Nickel Mountain Group AB (publ) is a Swedish company headquartered in Stockholm. The Company's shares are listed on the Oslo Stock Exchange (ticker: NMG). Please refer to www.nickelmountain.se for more detailed information.

Cautionary Statement: Statements and assumptions made in this document with respect to Nickel Mountain Group AB’s ("NMG”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of NMG. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where NMG operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) NMG’s continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) metal prices, particularly as regards nickel. In the light of the many risks and uncertainties surrounding any mineral project at an early stage of its development, the actual results could differ materially from those presented and forecast in this document. NMG assumes no unconditional obligation to immediately update any such statements and/or forecasts.

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