Nordic Mines AB: New Scoping Level Preliminary Economic Assessment for the Laiva project after updating of the Mineral Resource Estimate

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.

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has prepared a new Scoping Level Preliminary Economic Assessment for the Laiva Project ("Laiva" or the "Project") (the "Assessment") following the publication of a new Mineral Resource Estimate on May 17, 2016. The reported Assessment is compliant with the current standard of the Fennoscandian Review Board.

Base Case

• Project Net Present Value ("NPV") of EUR 77 million^[1]
• Total Gold production of 529 thousand tr.oz over 7 year Life-of-Mine ("LoM")
• Expected total operating cash costs of USD 890 (EUR 787) per tr.oz, indicating that Laiva is capable of being restarted and operated on a long term basis at a broad range of commodity prices

The Assessment relies upon the updated JORC Code 2012 compliant Mineral Resource Estimate as of May 2016 (press release May 17, 2016) and quantifies the revised operating costs for the Laiva project. The Assessment and the updated Mineral Resource Estimate are both based upon the new sorting strategy developed by the Company's management during the last few months.

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; www.nordicmines.com

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 03.30 p.m. (CET) on May 25, 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.com