Memorandum of Understanding for offtake of pyrite from Engebø

16 Feb 2023 13:09 CET

Nordic Mining ASA ("Nordic Mining" or the "Company") is pleased to announce that
the Company its wholly-owned subsidiary, Nordic Rutile AS, has entered into a
Memorandum of Understanding ("MoU") for a long-term joint cooperation for the
offtake of pyrite from the Engebø Rutile and Garnet Project (the "Engebø
Project").

Pyrite (Iron sulfate) is a mineral that is present in the Engebø Eclogite-ore
and that will be separated in the process of purifying the rutile concentrate.
Nordic Mining will in partnership with Green Trail Holding Ltd, a trading
company with over 30 years of experience, together pursue market opportunities
for pyrite as a new mineral production stream. Pyrite has previously been
considered as a residual waste stream from the Engebø Project.

The successful production, marketability and sale of pyrite can potentially
create value from residual mineral waste streams and reduce the need to deposit
pyrite as part of the tailings. Further, it has the potential for a significant
reduction of chemical additives in the tailings. Even though the project is
fully permitted and considered environmentally safe by the Norwegian
authorities, any reduction in additives in the tailings is regarded positive and
further reduces the risk of environmental impacts. The process plant design
already allows for finalization of the pyrite as a separate mineral concentrate
stream, with minimum additional infrastructure requirements.

Pyrite is used as a raw material in a wide range of industrial applications such
as in the paper industry, in batteries, water treatment and various chemical
processes.

Green Trail Holding Ltd is a trading company with over 30 years of experience
and has an excellent knowledge, network, and competence in the global mineral
market.

"We are enthusiastic about the cooperation with Green Trail, where we jointly
will explore additional value from the Engebø mineral deposit" says CEO Ivar S.
Fossum.

For further information, please contact CEO Ivar S. Fossum, telephone +47 930
96 850.

Oslo, 16 February 2023
Nordic Mining AS

Nordic Mining ASA (www.nordicmining.com)

Nordic Mining ASA ("Nordic Mining" or the "Company") is a resource company with
focus on high-end industrial minerals and metals. The Company's project
portfolio is of high international standard and holds significant economic
potential. The Company's assets are in the Nordic region.

Nordic Mining is undertaking a large-scale project development at Engebø on the
west coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. In addition, Nordic Mining holds
interests in other initiatives at various stages of development. This includes
patented rights for a new technology for production of alumina and exploration
of seabed minerals.

Nordic Mining is listed on Euronext Expand Oslo with ticker symbol "NOM".

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