Nordic Mines proceeds of rights issue received

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PRESS RELEASE, September 10, 2014

The English text is an unofficial translation of the Swedish original and in case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail. This is not a legal document

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has now received payment for new shares in the rights issue. Trading in paid subscribed shares (Betalda Tecknade Aktier, "BTA" in Swedish) in Nordic Mines is expected to commence on Nasdaq OMX Stockholm on Thursday September 11, 2014.

"As the proceeds of the rights issue has been received, all conditions are fulfilled for the significant write down of debt and the composition plans in Sweden and Finland which implies that Nordic Mines' debt-incurrence, all else equal, decrease accordingly by SEK 440 million (EUR 48m). Additionally, the liquidity increase provided by the rights issue implies that we immediately can commence the work to restart the Laiva operations. The mine has historically produced over 2 tons of gold, and with the ongoing action plan prerequisites for profitable mining are created", comments Thomas Cederborg, CEO of Nordic Mines.

As previously announced (by way of a press release on September 1, 2014) Nordic Mines has received applications for subscription of new shares in the ongoing rights issue amounting to approximately SEK 152 million (before transaction costs). As the Company has now received payments for new shares exceeding the minimum capital requirement of SEK 150 million, which was set as a condition of the rights issue, the Company has commenced the work of booking BTAs to respective VP-accounts. In connection with this the registration of the rights issue with the Swedish Companies Registration Office begins. Trading with BTAs in Nordic Mines is expected to commence on NASDAQ OMX Stockholm on September 11, 2014.

After the Swedish Companies Registration Office has registered the rights issue, allotted BTAs will be converted into new shares as soon as possible. Scheduled last day of trading in BTAs is on Monday September 15, 2014, and the stop date in Euroclear is on Thursday September 18, 2014. After registration of the rights issue the number of shares in Nordic Mines is estimated to amount to 5,403,043,195. The new shares in Nordic Mines are expected to be subject of trading on NASDAQ OMX Stockholm on Monday September 22, 2014.

For additional information, please contact:

Thomas Cederborg, CEO, +46 708 480 521
Jonatan Forsberg, CFO, +46 761 051 310

For more information about Nordic Mines, please visit; www.nordicmines.se

The above information may be information that Nordic Mines AB (publ) is required to disclose under the Securities Market Act and / or the Trading in Financial Instruments. The information was published at 8:00 a.m. CET on September 10, 2014.

Nordic Mines is a Nordic mining and exploration company whose goal is to become one of Europe's leading Gold producers and a role model in respecting the environment. The Laiva mine in Finland commenced gold production in late 2011. The discovery is one of the largest in the Nordic countries. Exploration is performed in Finland and Sweden. Nordic Mines was founded in 2005 and has almost 100 employees and is headquartered in Uppsala. Its shares are traded on the Nasdaq OMX Small Cap list. See also www.nordicmines.se