NORDIC MINING: DISCLOSURE OF LARGE SHAREHOLDING

03 Mar 2023 12:57 CET

Reference is made to the stock exchange notice made by Nordic Mining ASA
("Nordic Mining") on 2 March 2023 regarding the successful private placement and
conversion a of convertible loan with Fjordavegen Holding, and the stock
exchange notice made by Nordic Mining today regarding the board meeting and the
extraordinary general meeting held to approve the private placement.

Iwatani Corporation has been allocated 319,582,667 shares in the private
placement, equal to 15.73% of the share capital and votes of Nordic Mining
following registration of the share capital increase pertaining to the private
placement and the conversion of the convertible loan.

Iwatani Corporation did not hold any shares in Nordic Mining prior to the
private placement.

Oslo, 3 March 2023
Nordic Mining ASA

This information is subject to the disclosure requirements pursuant to the
Continuing Obligations and Section 4-2 and 5-12 the Norwegian Securities Trading
Act.

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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