Nickel Mountain Group AB: NMG: Sale of subsidiary for 2 million SEK improves group liquidity

Regulatory News:

Nickel Mountain Group (STO:NMG) is in the process of simplifying its group structure. Earlier this month the African assets were shifted out to shareholders via a dividend of subsidiary African Diamond AB. This is followed up by a sale of 100% owned subsidiary IGE Diamond AB, which now is essentially empty. The Buyer shall pay a first purchase consideration of 2 million SEK due by end of this month, and in the future an additional 2 million SEK may be paid if certain conditions get fulfilled.

This sale improves the liquidity situation of the group, which will however require further attraction of external financing in order to become satisfactory. Such efforts are in progress.

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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