Nordic Mines reports an updated Mineral Resource based on a sorting process

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, 17 May 2016

Nordic Mines AB (publ) ("Nordic Mines" or the "Company") is reporting an updated Mineral Resource Estimate for the Laiva mine as of May 16, 2016.

The updated Mineral Resource Estimate is based upon recent ore sorting tests of a small tonnage throughput from the Laiva deposit. The JORC Code 2012 compliant Mineral Resource update is further based upon the Company's January 1, 2015 Mineral Reserve and Mineral Resource report using the January 1, 2015 pit shell data and mining cut off grades as benchmarks but reporting from updated pit shells based on updated costs and technical data as a result of the ore sorting scenario test work results.

Using a USD 1,400 Gold price (previous USD 1,510) and a cut off grade at 0.3 g/t (previous 0.6 g/t), a reduction of 0.3 g/t due to the sorting, the Measured and Indicated Mineral Resource is 24,320,000 tons (1.13 g/t), containing gold of 885,000 tr.oz. In addition, the Inferred Mineral Resource is 4,370,000 tons (1.64 g/t), containing 231,000 tr.oz. This is a 13% increase in contained gold (measured/indicated) compared to the previous resource statement. Using the same gold price as in the previous model the increase in contained gold would be around 25%.

Stockholm, 17 May 2016
Nordic Mines AB (publ)

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 08.00 a.m. (CET) on May 17, 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