Not for distribution, directly or indirectly, in or into the United States, Australia, HongKong, Japan, Canada, New Zealand, Singapore or South Africa or in any other jurisdiction where the distribution of this press release would be unlawful

PRESS RELEASE, July 25, 2014

The English text is an unofficial translation of the Swedish original and in case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail. This is not a legal document

As previously announced, the Board of Directors in Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has intended to extend the application period should not the conditions for application be fulfilled by the end of the period.

The Company's lenders have, subject to certain conditions, approved the Swedish composition plan. However, the final agreements between the Company and its lenders, regarding the principal conditions including, inter alia, write-downs of existing claims, are not yet finalized. Thus, the Board of Directors has decided to prolong the application period for the rights issue until 17:00 CET on August 8, 2014. The period of trading in subscription rights is also extended. The last day of trading is on August 5, 2014.

Applications to subscribe for shares in the rights issue, with or without preferential rights, will be conditional upon that an agreement is reached between the Company, Nordic Mines Oy and the Company's creditors regarding, among other things, write-downs of existing claims under the facility agreement further described in the prospectus and that the Swedish and Finnish court respectively has determined on composition plans in regards to the ongoing Swedish company reorganization and the Finnish company reorganization relating to companies within the Nordic Mines Group.

The Board of Directors has resolved on the following timetable to enable fulfillment of the conditions:

• The application period is extended until 17:00 CET on August 8, 2014. The last day of trading in subscription rights is on August 5, 2014.
• Should the conditions for application for subscription be fulfilled and, in the Board of Directors' opinion, it's expected that the conditioned minimum amount of the rights issue is achieved, payment instructions will be distributed after the application period. Full cash payment for the subscribed shares should be made no later than 17:00 CET on August 22, 2014 according to the instructions on the payment slip.
• The rights issue is expected to be registered at the Swedish Companies Registration Office during week 35 2014 after which paid subscribed shares (BTA) will be converted to ordinary shares.
• The final outcome of the rights issue is expected around August 28, 2014.

Should the conditions of the rights issue and for application to subscribe for new shares not be fulfilled by the last day of the application period on August 8, 2014, the Board of Directors reserves the right to extend the period further. This will be announced no later than on August 8, 2014.

Timetable for the rights issue

Additional information about Nordic Mines and the rights issue

A prospectus describing Nordic Mines and the rights issue and subscription forms are available at Nordic Mines (www.nordicmines.com) and Evli Bank's website (www.evli.com). The prospectus can also be obtained from Evli Bank in Stockholm during office hours,
+46 8 407 80 14.

For additional information, please contact:

Thomas Cederborg, CEO, +46 708 480 521
Jonatan Forsberg, CFO, +46 761 051 310

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

The above information may be information that Nordic Mines AB (publ) is required to disclose under the Securities Market Act and / or the Trading in Financial Instruments. The information was published at 08:00 CET on July 25, 2014.

Nordic Mines is a Nordic mining and exploration company whose goal is to become one of Europes leading gold producers and a role model in respecting the environment. The Laiva mine in Finland commenced gold production in late 2011. The discovery is one of the largest in the Nordic countries. Exploration is performed in Finland and Sweden. Nordic Mines was founded in 2005 and has almost 100 employees and is headquartered in Uppsala. Its shares are traded on the Nasdaq OMX Small Cap list. See also www.nordicmines.se