Press release from extraordinary shareholders meeting in
Nordic Mines AB (publ) 11 January 2010

At the extraordinary shareholders meeting in Nordic Mines AB (publ) 11 January 2010
the following was resolved

Share issues
The extraordinary shareholders meeting in Nordic Mines AB (publ) resolved to approve the board of directors’ resolution to increase the company’s share capital with no more than SEK 6 923 077 through a directed share issue. Right to subscribe for the new shares shall belong to certain institutional and other large investors. The number of shares in the company will increase by no more than 6 923 077 through the share issue.

The extraordinary shareholders meeting in Nordic Mines AB (publ) resolved to approve the board of directors’ resolution to increase the company’s share capital with no more than SEK 2 327 142 through a preferential rights issue of shares. The record date is 14 January 2010. The shareholders has the right to, for each 10 shares held in the company, subscribe for 1 new share. The number of share in the company will increase by no more than 2 327 142 through the issue.

Background and reason
On 24 November 2009, Nordic Mines was granted environmental permission by the Finnish Ministry of the Environment in regards to the company’s proposed gold mine in Laiva, Finland. The Laiva-project outside Raahe in central Finland is one of the biggest gold deposits in the Nordic region. Nordic Mines expects to start mine production during the first half of 2011 by mining around 2 million tons of ore and producing about 3 700 kilos of gold per year.

The Company assesses that the capital  raised through the share issues is the capital required to carry out the investment in the mine and the processing plant in Laiva. The remaining portion of the investment will be financed through project loans. Nordic Mines has already engaged Standard Bank as the arranger of the project loans for the Laiva- project. Considering the fact that Nordic Mines has secured required equity financing, the company can, together with Standard Bank, finalize negotiations concerning these project loans and establish the final loan terms, which is expected to occur in early 2010.

For further information, please contact:
Michael Nilsson, CEO
Phone: +46 18 84 34 501
E-mail: mille@nordicmines.se

This information provided in this press release is such that Nordic Mines is required to disclose
pursuant to the Swedish Securities Markets Act and/or the Financial Instruments Trading Act.
The information was submitted for publication at 04:30 pm on January 11, 2010.