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Nordic Mines AB: Nordic Mines reports an updated Mineral Resource based on a sorting process

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, 17 May 2016

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") is reporting an
updated Mineral Resource Estimate for the Laiva mine as of May 16, 2016.

The updated Mineral Resource Estimate is based upon recent ore sorting tests
of a small tonnage throughput from the Laiva deposit. The JORC Code 2012
compliant Mineral Resource update is further based upon the Company's January
1, 2015 Mineral Reserve and Mineral Resource report using the January 1, 2015
pit shell data and mining cut off grades as benchmarks but reporting from
updated pit shells based on updated costs and technical data as a result of
the ore sorting scenario test work results.

Using a USD 1,400 gold price (previous USD 1,510) and a cut off grade at 0.3
g/t (previous 0.6 g/t), a reduction of 0.3 g/t due to the sorting, the
Measured and Indicated Mineral Resource is 24,320,000 tons (1.13 g/t),
containing gold of 885,000 tr.oz. In addition, the Inferred Mineral Resource
is 4,370,000 tons (1.64 g/t), containing 231,000 tr.oz. This is a 13%
increase in contained gold (measured/indicated) compared to the previous
resource statement. Using the same gold price as in the previous model the
increase in contained gold would be around 25%.

Stockholm, 17 May 2016
Nordic Mines AB (publ)

For additional information, please contact:

D. Saradhi Rajan, CEO: +44 743 271 1564
Peter Kuiper, Head of Development, +46 70 567 6444

For more information about Nordic Mines, please visit;

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 May 17, 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 to

Press release (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


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