Uppsala, February 9th, 2010

Nordic Mines rights issue oversubscribed

Nordic Mines AB’s (publ) share issue with preferential rights for existing shareholders has been completed. The share issue was oversubscribed by more than 60 percent.

The subscription period for the rights issue ended on February 5th, 2010. A total of 2,327,142 new shares were subscribed for, of which approximately 99.5 percent of the subscription rights have been exercised. Through the rights issue, Nordic Mines receives approximately 60.5 million SEK. Additionally, Nordic Mines has received applications for subscription for shares without preferential rights, equivalent to about 60 percent of the size of the total share issue.

The rights issue is now to be registered with the Companies Registration Office, which also initiates the conversion of BTA into ordinary shares. New shares are expected to be tradable during next week.

“We are pleased that so many of Nordic Mines’ shareholders, through their participation in the share issue, have demonstrated their support for the company. We now look forward to taking the next step in order to initiate gold production in Laiva.” says Michael Nilsson, CEO of Nordic Mines.

As stated in the press release dated December 22th, 2009, Nordic Mines has also carried out a share issue directed to a limited number of selected institutional and other larger investors. In the directed share issue, 6,923,077 new shares were subscribed for amounting to approximately 180 million SEK.

As a result of both share issues, the number of shares increases by a total of 9,250,219, to 32,521,647 shares and the share capital increases by 9,250,219 SEK to 32,521,647 SEK. In total, Nordic Mines raises over 240.5 million SEK, before expenses, through this transaction.

Lage Jonason AB has been financial advisor and Advokatfirman Vinge has been legal advisor to Nordic Mines in the transactions.

For further information, please contact:
Michael Nilsson, CEO
+ 46 18-84 34 500, mille@nordicmines.se

This press release cannot be made public or distributed, directly or indirectly, in the United States, Canada, Japan, or Australia. No information in this press release should be viewed as an offer to invest or otherwise trade in the shares in Nordic Mines. The proposed offerings will not be directed at people from or residing in the United States, Canada, Japan, Australia, or any other country where participation requires additional prospectus or any other documentation of the offering, registration, or actions beyond Swedish law, except as applicable. No securities in Nordic Mines will be registered according to the United States Securities Act of 1933 or any provincial law of Canada.

The 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 on February 9th, 2010 at. 08.00.