Interim report per 31 December 2010

Nordic Mining ASA is pleased to present the interim report per 3 December 2010. The following important events since the 3rd quarter report are high-lighted:

• Positive quarterly results in Gudvangen Stein
  The markets for anorthosite products from Gudvangen Stein have developed positively in the forth quarter. Sales volume was 69,000 tons. Profit after tax for the quarter was NOK 0.3 million including development costs amounting to approximately NOK 1.0 million related to new products and applications.
  
  
• Cooperation agreement with leading pigment producer Cristal Global, Inc.
  The purpose is to develop and optimize the production process for rutile at Engebø in order to meet Cristal's feedstock quality requirements. Subject to positive process development, the parties intend to negotiate terms and conditions for a long term supply and off-take agreement for rutile.
  
  
• Confirmation of positive drilling results in Finland
  Keliber's drilling program was concluded in January 2011. A new lithium deposit has been detected at Outovesi, and the resource base at Länttä has been upgraded. Approximately 1.26 million tons have been classified by independent experts as ore reserve (proven and probable) which is evaluated as technical and economical feasible in a viable project.
  
  
• New project for mineral processing with use of CO2
  Nordic Mining and Institute for Energy Technology (IFE) have started a development project related to new technology for production of alumina from the Gudvangen anorthosite with the use of CO2. The alumina content in the anorthosite is approximately 30% and is therefore potentially a major alumina source.
  
  
• Rights secured for high-purity quartz
  Nordic Mining has entered into agreement with landowners and secured exclusive rights for investigation and development of a quartz deposit in Kvinnherad municipality in Norway. Preliminary studies carried out by NGU and NTNU show that the quartz has a low content of contaminants and therefore can be regarded as high-purity type quartz.

The interim report is enclosed for information.

For questions please contact CFO Lars K. Grøndahl, telephone +47 901 60 941.

Oslo, 28 February 2011
Nordic Mining ASA

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.