Nordic Mines informs on the ongoing corporate reorganisation procedures in Sweden and in Finland

PRESS RELEASE August 7, 2014

Swedish reorganization procedure
The District Court of Uppsala has today made its decision to adopt the composition plan proposals filed with the District Court by the administrator for Nordic Mines AB (publ)'s ("Nordic Mines" or the "Company") Swedish companies. For unsecured creditors, the composition proposals would imply full cash payment of receivable up to SEK 9,000 (approximately EUR 1,000) and 10 percent payment of claims in excess of that.

Finnish reorganization procedure
The District Court of Uleåborg has previously made its decision to adopt the composition plan proposal filed with the District Court by the administrator for Nordic Mines AB (publ)'s ("Nordic Mines" or the "Company")  Finnish subsidiary. For all unsecured creditors of the subsidiary, the composition plan implies full cash payment of receivables up to EUR 1,000 (SEK 9,000). For receivables in an amount exceeding EUR 1,000, the composition plan implies that 10 percent of the aggregate amount of the receivable will be paid. The composition plan includes conditions allowing the Company's lenders and the supervisor of the corporate restructuring to apply for the lapsing of the corporate restructuring if, inter alia, a final agreement is not reached with the Company's lenders by the August 8, 2014 at the latest (please refer to "Ongoing discussion with the Company's lenders" below).

Ongoing discussion with the Company's lenders
The Company disclosed through a press release on June 5, 2014 that the Company had entered into a non-binding so called term sheet with the Company's lenders regarding the principal conditions including, inter alia, write-downs of existing claims. Subsequently to that, the Company has continued to discuss the terms and conditions with the lenders and administrators in Sweden and Finland in order to reach a final agreement. Such final agreement has not yet been reached with the lenders.

Conditioned Rights Issue
Nordic Mines' extraordinary general meeting resolved on April 28, 2014 to approved the Rights Issue previously resolved by the Board of Directors. The Rights Issue is intended to provide the Company with at least SEK 150m. The application period runs, following extension (as per press release on July 25, 2014) up until August 8, 2014.

Applications to subscribe for shares in the Rights Issue, with or without preferential right, are conditional upon that, by the last day of the application period at the latest, a final agreement is reached with the Company's lenders as well as the Swedish and Finnish court respectively has determined on composition plans in regards to the ongoing Swedish company reorganisation and the Finnish company reorganisation in relation to companies within the group.

For further information, please contact:

Thomas Cederborg, CEO, +46 (0) 708 480 521
Jonatan Forsberg, CFO, +46 (0) 761 051 310

For further information regarding Nordic Mines, please see; 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 submitted for publishing at 15.00 (CET) on August 7, 2014.

Nordic Mines is a Nordic mining and exploration company whose vision is to be one of the leading Gold producers in the Nordics and Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in the end of 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and in Sweden. Nordic Mines was established 2005 and have more the 100 employees with head office in Uppsala, Sweden, The Nordic Mines share is traded on the Nasdaq OMX Small Cap list in Stockholm.