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2016-02-25

Nordic Mines AB: NORDIC MINES AB (publ) Year-end report 2015

The English text is an unofficial translation of the Swedish original, and in
the event of any discrepancies between the Swedish text and the English
translation the Swedish text shall take precedence.

Fourth quarter of 2015

* Revenues were SEK 0.0 million (SEK 0.0 million) due to the production stop
at the Laiva mine.
* The Company reported an operating profit of SEK 80.3 million (SEK -38.7),
mainly as a result of gains from the bank debt write-down.
* Profit after tax for the period amounted to SEK 76.1 million (SEK -45.6
million), corresponding to SEK 0.36 (SEK -0.86) per share.
* Cash and cash equivalents were SEK 32.6 million (SEK 21.1 million, 30
September 2015) at the end of the period. Thus, the Company currently does
not have sufficient funds to cover its needs for the next twelve months
starting from the date of this report.
* Equity was SEK 524.9 million (SEK 390.0 million, 30 September 2015) at the
end of the period.
* On October 16, 2015, Nordic Mines ("Nordic Mines" or the "Company" and
together with its subsidiaries the "Group") announces the Board of
Director's of Nordic Mines (the "Board") resolution on final terms for the
rights issue with preferential rights for the Company's existing
shareholders (the "Righs Issue").
* On October 21, 2015, Nordic Mines holds an Extraordinary General Meeting
(the "October EGM"), to approve the resolution by the Board on the
forthcoming Rights Issue. On the same day Nordic Mines also announces a
Company update in conjunction with the CEO's presentation on the October
EGM where Mrs. Eva Kaijser elaborates on the Company's activities and
strategies going forward.
* On October 23, 2015, Nordic Mines' publish a prospectus for the Rights
Issue including new financial information on the Company.
* On November 9, 2015, Nordic Mines announces that the Company has agreed on
a final agreement with the Company's lenders under which Nordic Mines will
acquire all of the lenders' claims on Group companies in accordance with
the existing project financing agreements. The same day a supplementary
prospectus relating to the Rights Issue is published due to the agreement.
* On November 13, 2015, Nordic Mines announces the outcome of the Rights
Issue where subscription applications corresponding to approximately SEK 80
million were submitted and subsequently resulting in Nordic Mines receiving
a new majority owner in Lau Su Holding AB ("Lau Su" or the "Majority
Owner").
* On November 16, 2015, Nordic Mines' publish a supplementary prospectus
relating to the Rights Issue. The supplementary prospectus was prepared by
reason that the Company through the outcome of the Rights Issue would
receive a majority owner in Lau Su and in addition by reason of the
commitment compensation of shares granted to the Lau Su in relation to the
completion of the Rights Issue.
* On November 18, 2015, Nordic Mines' share receives observation status in
anticipation of payments from the Rights Issue.
* On December 1, 2015, Nordic Mines announces that payments amounting to
approximately SEK 80 million have been made in Nordic Mines' Rights Issue
whereupon the Board has declared the conditions for the rights issue
fulfilled.
* On December 14, 2015, the observation status for Nordic Mines' share is
removed.
* On December 14, 2015, Nordic Mines announces that the Company has completed
the repurchase of outstanding bank debt in accordance with previous
agreement with the Company's lenders.
* On December 14, 2015, Nordic Mines calls for an Extraordinary General
Meeting to be held on January 7(the "January EGM"), 2016 with the purpose
of electing a new Board reflecting the new ownership structure of the
Company.

Full year 2015

* Revenues were SEK 0.0 million (SEK 62.9 million) due to the production stop
at the Laiva mine.
* The Company recorded an operating result of SEK 13.0 million, mainly due to
the gains associated to the Bank Debt repurchase (SEK 305.2 million, mainly
due to composition gain).
* Profit after tax for the period amounted to SEK 0.0 million (SEK 125.8
million), corresponding to SEK 0.00 (SEK 6.62) per share.

Significant events after December 31, 2015

* On January 5, 2016, the Company's new Majority Owner presents a proposal
for a new Board.
* On January 7, 2016, Nordic Mines holds the January EGM, where a new Board
for the Company is elected.
* On January 13, the Swedish Securities Council issues a statement in regards
to Nordic Mines. SeeStatement by the Swedish Securities Council with
respect to Nordic Mines .
* On February 3, 2016, Nordic Mines announces changes in the Company's
Management. Mr. D. Saradhi Rajan is appointed CEO of the Company. In
addition, Mr. Nigel Pickett and Mr. Andrew Malim become members of the
Nordic Mines' Management. It is further announced that the current CEO Mrs.
Eva Kaijser and the Company's CFO Mr. Jonatan Forsberg both has chosen to
leave their respective positions in Nordic Mines at latest by the end of
February 2016.
* On February 19, 2016, Nordic Mines announces the composition of the
Nomination Committee for the Annual General Meeting 2016.

For further information, please contact:

D. Saradhi Rajan, +44 743 271 1564
Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)761 051 310

For more information about Nordic Mines, please visitwww.nordicmines.com.

The information above has been made public in accordance with the Securities
Market Act and/or the Financial Instruments Trading Act. The information was
published at 08.00 a.m. (CET) on 25 February 2016.

Nordic Mines is a Nordic mining and exploration company. The Laiva mine in
Finland produced gold between 2011 and 2014. The deposit is among the largest
in the Nordic region. Nordic Mines is a member of SveMin and applies its
reporting regulations for public mining and exploration companies. The Nordic
Mines share has been admitted for trading on Nasdaq Stockholm's Small Cap
list. Also refer towww.nordicmines.com.

NORDIC MINES AB (publ) Year-end report 2015
http://hugin.info/138647/R/1989189/730539.pdf

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nordic Mines AB via Globenewswire

HUG#1989189

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