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2015-08-31

Nordic Mines AB: Nordic Mines consolidates its shares

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.

PRESS RELEASE 31 August 2015

The Annual General Meeting for Nordic Mines AB (publ) ("Nordic Mines" or "the
Company") resolved on 30 June 2015 to reduce the Company's share capital to
cover losses and to carry out a reorganisation of its shares via a reverse
split on a 1-for-100 basis, which means that 100 shares will be consolidated
to a single share. Since the measures were approved by its lenders, the
Company will now implement the AGM's resolution.

Directed share issue

In order to achieve an evenly distributable number of shares in the Company
and thus facilitate a consolidation of the Company's shares, the AGM granted
the Company's Board of Directors the authorisation to decide on a directed
issue of shares in the Company. Pursuant to this authorisation from the AGM,
the Board decided on a directed issue of four shares to Evli Corporate
Finance AB. The new shares were issued at a subscription price up to the
existing shares' quota value (in total SEK 0.1811).

The total number of outstanding shares in Nordic Mines after the directed
issue is 5,403,043,200.

Consolidation of shares (1:100)

The resolution by the AGM on the consolidation of the Nordic Mines share
entails that 100 existing shares will be consolidated into one new share.
Pursuant to the authorisation granted by the AGM, the Board has determined
that the record date for the consolidation will be 16 September 2015.

The final day to trade Nordic Mines shares on NASDAQ Stockholm before the
consolidation is 14 September 2015. The first day to trade Nordic Mines
shares after the consolidation is 15 September 2015, which means that the
price of the share as of 14 September 2015 will reflect the effect of the
consolidation. Please note that as of this date the share will be traded
under a new ISIN code, SE0007491105.

The consolidation will reduce the total number of shares in Nordic Mines from
5,403,043,200 to 54,030,432. The quota value for the Company's shares after
the consolidation will be SEK 4.5269 per share. The Company's share capital
will not be affected by the consolidation.

For shareholders who do not own a number of shares that corresponds to a whole
number of new shares on the record date, the excess number of shares will be
taken over by Nordic Mines and sold. The proceeds from the sale of the excess
shares will be paid to entitled shareholders around 21 September 2015.

Schedule for the consolidation of shares

-------------------------------------------------------------------------------------------------
| 14 September 2015 Last day for trade before the consolidation |
| 15 September 2015 First day for trade following the consolidation New ISIN code SE0007491105 |
| 16 September 2015 Record date for the consolidation |
-------------------------------------------------------------------------------------------------
Reduction in share capital to cover losses

The AGM also resolved to reduce the Company's share capital by SEK 147,245,000
to cover losses without withdrawing shares. Since the reduction in share
capital was registered by the Swedish Companies Registration Office on 20
August 2015, the Company's share capital is SEK 244,590,214.44.

For further information, please contact:

Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76-105 13 10

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

The information presented above has been disclosed pursuant to the Securities
Markets Act and/or the Financial Instruments Trading Act. The information was
published on 31 August 2015 at 8:00 a.m.

Nordic Mines is a Nordic mining and exploration company. The Laia 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 to www.nordicmines.se.

Nordic Mines consolidates its shares
http://hugin.info/138647/R/1948499/707770.pdf

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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

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