Nordic Mines informs on the ongoing corporate reorganisations in Sweden and Finland and the discussions with the Company's lenders

PRESS RELEASE, June 27, 2014

Ongoing discussion with the Company's lenders
Nordic Mines AB (publ) ("Nordic Mines" or the "Company") disclosed through a press release on 5 June 2014 that the Company had entered into a non-binding so called term sheet with the Company's lenders regarding the principal conditions including, inter alia, write-downs of existing claims. Subsequently to that, the Company has continued to discuss the terms and conditions with the lenders and administrators in Sweden and Finland in order to reach a final agreement. Such final agreement has not yet been reached with the lenders.

Proposed composition plan to unsecured creditors
As part of the ongoing company reorganisations of the companies within the group, the Company is working to ensure a composition settlement regarding unsecured creditors. For all unsecured creditors of the group, the composition plan would imply full cash payment of receivable up to EUR 1,000 (approximately SEK 9,000) and 10 per cent payment of claims in excess of that. To the Swedish companies' unsecured creditors, a composition proposal pursuant to the above has been presented. The Company is now working to present a similar proposal to the Finnish subsidiaries' unsecured creditors.

Ongoing reorganisation
The Swedish as well as the Finnish reorganisation are, after prolongations, ongoing up until 8 July 2014. There are possibilities for the company subject to the Finnish reorganisation to apply for additional prolongation. The Swedish reorganisations may be additionally prolonged by court only where there is particular reasons.

Conditioned Rights Issue
Nordic Mines' extraordinary general meeting resolved on 28 April 2014 to approved the Rights Issue previously resolved by the Board of Directors. The Rights Issue is intended to provide the Company with at least SEK 150m. The application period runs, following extension (as per a press release on 5 June 2014) up until 11 July 2014, but may if needed be extended further.

Applications to subscribe for shares in the Rights Issue, with or without preferential right, are conditional upon that, by the last day of the application period (including possible further extensions) at the latest, a final agreement is reached between the Company, Nordic Mines Oy and the Company's creditors as well as the Swedish and Finnish court respectively has determined on composition plans in regards to the ongoing Swedish company reorganisation and the Finnish company reorganisation in relation to companies within the group.

For further information, please contact:

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.

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 08:00 (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 have more the 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm.