Interim financial report for the three month period January 1 – March 31, 2015 (Quarter 1, 2015)

Highlights during the report period

  • The work on the Pre-feasibility study (“PFS”) relating to the Rönnbäcken nickel project (“RNP”) continued during the first quarter of 2015 with a focus on environmental tests and the magnetite by-product.
  • NMG submitted a statement to a local court in Northern Sweden, which reviewed an appeal against a prolongation in 2014 of one of NMG’s exploration permits.

Major events after end of the report period

  • In April, after end of the report period, the first long-term environmental test of four waste rock samples from RNP was completed and reported with good results.
  • A desk study on the iron oxide (magnetite by-product) was obtained from a global steel industry consultancy firm. The report recommends NMG to produce a value added product from the magnetite concentrate.
  • The administrative court (Förvaltningsdomstolen) in Luleå, Sweden, has in the middle of May repealed the extension of one of the exploration permits granted to NMG.
  • The Claim on Alluvia Mining was reclassified as contingent asset according to IAS 37 with effect year end 2014.

Financial results for the quarter January – March 2015

  • The net result after tax for the 3-month period January – March 2015 amounted to MSEK –1.0 (MSEK -6.9). This corresponds to earnings per share (EPS) of SEK –0.01 (SEK –0.34 including discontinued operations and SEK -0.17 excluding discontinued operations).
  • The total comprehensive result for first quarter of 2015 was MSEK –1.0 (MSEK –6.9).

(Complete report enclosed for the first quarter 2015)

Torbjörn Ranta

Managing Director

Tel: 46 8 402 28 00

Mobile: 46 708 855504

E-mail: torbjorn.ranta@nickelmountain.se

The vision of Nickel Mountain Group AB is to be an explorer and miner recognized for our attractive assets and ability to effectively run projects from exploration to commercialization, leaving a lasting footprint within the regions we operate through investments, community engagement and transfer of expertise.

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