UNICREDIT EXERCISES WARRANTS IN NORDIC MINES AB (PUBL) AND SUBSCRIBES FOR NEW SHARES

UniCredit Bank AG has today provided notice of subscription to the Board of Dierctors of Nordic Mines AB (publ)

      ·       Exercise of 144,000 warrants corresponding to an equal amount of new shares

      ·       The warrants were issued in 2010 in conjunction with the execution of a project finance facility pursuant to a decision at a general meeting of the shareholders of Nordic Mines AB (publ)

      ·       Dilution 0.39 percent

      ·       Subscription price 31 kronor 42 öre¹ corresponding to a total payment of 4,524,480 kronor 

UniCredit Bank AG ("UniCredit Bank") has decided to exercise 144,000 warrants out of the 200,000 warrants issued to them in 2010 pursuant to a decision at a general meeting of the shareholders in Nordic Mines AB (publ) ("Nordic Mines"). Today UniCredit Bank has submitted a subscription notice to the company. The warrants were issued with an exercise period of 30 months.

Each warrant represents the right to subscribe for one new share in Nordic Mines AB. The subscription price per share is 31 kronor 42 öre. The company will receive payment in conjunction with the subscription. The Board of Directors of the company plans to decide the allotment on 21 April, 2012. The increase of the share capital with 144,000 kronor is expected to be registered with the Swedish Companies Registration Office (Sw. Bolagsverket) by no later than 27 April, 2012 and the new shares are calculated to be available for trade on NASDAQ OMX Stockholm two trading days following the registration with the Swedish Companies Registration Office.

The exercise by UniCredit of the above number of warrants will result in a dilution of 0.39 percent calculated on the basis of the present number of shares (36,671,647). Following the exercise of the warrants, the total number of shares in Nordic Mines will be 36,815,647.

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