Keliber has today released the Updated Definitive Feasibility Study ("UDFS") for
the Lithium Project in Central Ostrobothnia, Finland. The updated Definitive
Feasibility Study to produce battery-grade lithium hydroxide (LiOH) confirms a
solid financial and technical feasibility of the project, with significant
improvements in the key financials compared to the Definitive Feasibility Study
("DFS") from 2019.

Key Figures                    Unit      UDFS2022  DFS2019
Financial
Post-tax NPV (8% real       EUR million     1,228      384
discount rate)
Post-tax internal rate of        %             31       24
return (IRR)
Payback period (from start     Years          3.5      4.1
of production)
Other
Life of Mine                   Years           16       13
Total Ore Reserves              Mt           12.3      7.5
Production battery-grade       t/pa        15,000   12,500
lithium hydroxide (own
ore)

For the UDFS, Keliber states to have used a price forecast for the battery-grade
lithium hydroxide prepared by Roskill - Wood Mackenzie, with the average LiOH
price used in their financial evaluation of USD 24,936/t.

Nordic Mining owns 12.0% of the shares in Keliber.

Nordic Mining's carrying amount for the investment in Keliber as per 31 December
2021 was NOK 190.5 million based on a fair value assessment using comparable
valuation analysis using industry practice P/NAV and EV/Resource multiples from
a peer-group of lithium developers at PFS/DFS. The fair value assessment assumed
a Post-Tax NPV on 100% basis of around EUR 365 million (8% real discount rate)
derived from the investor material provided by Keliber in relation the
investment by Sibanye-Stillwater Limited in Q2 2021. For details of the fair
value assessment see Interim Report for Q4-2021: Nordic Mining ASA (EN Expand:
NOM) - Interim Report per 31 December
2021 (https://d2zbxcnktjvvs5.cloudfront.net/1646078655/nom-interim-report-q4
-2021-1.pdf).

Keliber's press release with more  details of the Updated Definitive Feasibility
Study is available at: https://www.keliber.fi/en/news/news-releases-and
-publications/B651D29BB5259505/

For further information, please contact CEO Ivar S. Fossum, telephone +47 930
96 850 or CFO Christian Gjerde, telephone +47 980 60 909.

Oslo, 25 March 2022
Nordic Mining ASA

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.

Nordic Mining ASA (www.nordicmining.com)

Nordic Mining ASA ("Nordic Mining" or the "Company") is a resource company with
focus on high-end industrial minerals and metals. The Company's project
portfolio is of high international standard and holds significant economic
potential. The Company's assets are in the Nordic region.

Nordic Mining is undertaking a large-scale project development at Engebø on the
west coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. Nordic Mining also holds 12.0% of the
shares in Keliber Oy, which is developing a lithium project in Finland to become
the first European producer of battery grade lithium hydroxide.

In addition, Nordic Mining holds interests in other initiatives at various
stages of development. This includes patented rights for a new technology for
production of alumina and exploration of seabed minerals.

Nordic Mining is listed on Euronext Expand Oslo with ticker symbol "NOM".