PRESS RELEASE 4 May 2015

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.

The Board of Directors of Nordic Mines has decided to replace the current CEO and to name Eva Kaijser the new CEO of the Group. Eva has more than 17 years of experience in the mining industry, of which 11 years with the Boliden Group in various management and executive managment roles. Eva left Boliden to be the CFO of Northland Resources. Most recently Eva has been working as an independent advisor within the mining industry. Eva Kaijser will take over the role of CEO for Nordic Mines immediately.

"Eva has an extensive financial and industrial background in the mining industry, in particular in complicated negotiations with lenders and banks. With Eva at the helm of Nordic Mines, we are now building a strong team to conclude the ongoing discussions with the Company's lenders. In combination with the company's ongoing efforts to further strengthening liquidity to meet the increased need for working capital during the first months of the restart of the Laiva operations we hereby solidify the foundation for restarting profitable operations at the Laiva mine," says the Chairman of the Board, Lennart Schönning, in a statement.

"I would also like to take this opportunity to thank our previous CEO, Thomas Cederborg, for his commendable contributions during his time as CEO, in particular in conjunction with the conclusion of the Company's reorganisations in Finland and Sweden in the autumn of 2014 following extensive composition plans, significant debt write-downs of existing bank loans and the raising of capital from new and old shareholders," concludes Lennart Schönning.

For further information contact:
Lennart Schönning, Chairman, +46 (0)8 5051 6500
Eva Kaijser, CEO, +46 (0)70 932 09 01

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

The information in this press release has been published pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was published at 8:00 a.m. on 4 May 2015.

Nordic Mines AB is a Nordic mining and exploration company. Gold production began in the Laiva mine in Finland at the end of 2011. The deposit is among the largest in the Nordic region. Nordic Mines is a member of Svemin and applies its reporting regulations for publicly owned mining and exploration companies. The Nordic Mines share is admitted for trading on the Nasdaq Stockholm Small Cap list. Also refer to www.nordicmines.se