The Disciplinary Committee of Nasdaq imposes a fine on Nordic Mines

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, 28 July 2016

The Disciplinary Committee of Nasdaq Stockholm (the "Disciplinary Committee") imposes a fine of seven times the annual listing fee [approx. MSEK 1,5] on Nordic Mines AB (publ) ("Nordic Mines" or the "Company"). The decision made by the Disciplinary Committee is partly based upon the Swedish Securities Council previous appraisal that the approach by which Lao Su Holding AB was allowed to subscribe for new shares in the Company's Rights Issue 2015 was not in accordance with good practice on the stock market.

At the time of the rights issue the Company was in an extremely distressed financial situation and could not see that any alternative options were available. As is further set forth in the Company's previous statement to the Securities Council, it is the view of the Company that there was a high probability that the Finnish composition plan would have defaulted should the Company have failed to complete the Rights Issue, which in turn could have led to a new reorganisation, bankruptcy or other liquidation of the Company.

During 2016 the company has strengthened its organisation and a new management team is in place from beginning of the year together with a new board.

For additional information, please contact:
D. Saradhi Rajan, CEO: +44 743 271 1564

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

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 04.00 p.m. (CET) on July 28, 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 www.nordicmines.se.