Nordic Iron Ore AB extends the short-term loan facility

In February 2021, Nordic Iron Ore AB received a loan facility of SEK 10.5 million from the Company's principal owners Bengtssons Tidnings AB and Ludvika Holding AB and the company's board member Timo Lindborg via companies. The facility has now been extended by three months to run until the end of September 2022.

Summary of terms of the loan facility:

•  Loan agreement totalling SEK 10.5 million
•  The loans have an annual interest rate of 8 percent on the amount used.
•  The loans run until 30 September 2022.

Overall, the Board has made the assessment that the terms of the loans are market-based.

For further information please contact:

Lennart Eliasson Managing Director
phone: +46 240 88302

lennart.eliasson@nordicironore.se

Nordic Iron Ore Group is a mining company with the ambition to revive and develop the iron ore production of Ludvika Mines in Blötberget and Håksberg. The company also intends to expand its mineral resources, and upgrade them to ore reserves, primarily through exploration and other studies of the connecting Väsman field. The Company has all the necessary permits in place for the mine in Blötberget and will be able to produce iron ore of extremely high quality.

For more information, see www.nordicironore.se.

Nordic Iron Ore’s shares and warrants are listed at Nasdaq First North Growth Market. Wildeco is the company’s Certified Adviser (info@wildeco.se tel +46-8-545 271 00).

This information is required and provided by Nordic Iron Ore AB (publ) under the EU Market Abuse Regulation. The information was provided through the agency of the contact person set out above for publication at the date and time set above.