Nordic Mines informs about the ongoing work with the updated business plan for the Laiva mine

The English version of this press release is an unofficial translation of the Swedish original. In the event of any discrepancies between the Swedish text and the English translation, the Swedish text shall take precedence. This is not a legal document.

As previously announced, Nordic Mines has delivered an indicative updated business plan and an updated financial model for the Laiva mine to the Company's lenders for approval. Nordic Mines is now discussing the re-start of the Laiva mine with the Company's lenders as well as a number of alternatives for strengthening the project structurally, operationally and financially. Nordic Mines' original goal, which was previously announced, was to present an approved updated business plan during March 2015.  Due to the ongoing discussions, the Company has now made the assessment that approval will not be granted before the end of March 2015. The Company's revised goal is therefore to conclude the ongoing discussions and through a press release present in April 2015, or at the latest May 2015, a final, updated business plan for the Laiva mine that has been approved by the Company's lenders.

With the aim of achieving the Company's overall goal of restarting operations at the Laiva mine in a manner that creates conditions for profitable mining, Nordic Mines is now moving forward in its planning with the evaluation of a number of alternatives to strengthen the Laiva project structurally, operationally and financially. The Company is evaluating various partnerships for the refinement process and possible structural transactions within the Nordic gold mining industry. Nordic Mines is also evaluating different alternatives for creating more financial flexibility once operations have been restarted, for example through the pre-sale of gold production and gold deliveries, renegotiated supplier terms or other types of bridge financing for working capital.

The updated business plan for the Laiva mine was prepared in collaboration with the well-respected international mining consulting company, SRK Consulting (UK) Limited (SRK). SRK also prepared the updated mineral reserve and the mineral resource for the Laiva mine, which the Company presented in a press release on 26 February 2015.

For more information, please contact:

Thomas Cederborg, CEO, +46 (0)70 848 0521

Jonatan Forsberg, CFO, +46 (0)76 105 1310

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 26 March 2015 at 8:00 a.m.

Nordic Mines 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 public mining and exploration companies. The Nordic Mines share has been admitted for trading on the Nasdaq Stockholm's Small Cap list. Also refer to www.nordicmines.se.