Nordic Mines Oy starts cooperation negotiations

PRESS RELEASE, 12 March 2014 (A translation from Swedish)

Nordic Mines Oy starts cooperation negotiations with the objective to obtain further cost savings at the Laiva mine in Finland

The Finnish subsidiary Nordic Mines Oy starts cooperation negotiations to plan for a temporary production stop at the Laiva mine to obtain further cost savings.

In order to extend the time for corporate reorganization work, including raising external financing, Nordic Mines Oy has the intention to invite employee representatives to cooperation negotiations in accordance with applicable Finnish law. The plan is to temporarily stop the production at the Laiva mine to obtain further cost savings.

"It is important to keep all alternatives open and therefore more time is needed", says Thomas Cederborg, CEO.

For further information, please contact:
Thomas Cederborg, CEO, +46 708 480 521
Susanne Andersson, CFO, +46 730 668 904

For further information regarding Nordic Mines, please connect to www.nordicmines.com

The information above has been made public in accordance with the Securities Market Act and/or Financial Instruments Trading Act. The information was published at 08.00 (CET) on March 12, 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 summer 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.