The following insiders have purchased shares in Nordic Mining in connection with the company's share saving program for employees:

 

Lars K. Grøndahl (CFO)                                              Purchase 32,851 shares

Ottar Nakken (Vice President Commercial)                Purchase 32,851 shares

Paul I. Norkyn (Vice President Mining operation)      Purchase 32,851 shares

Mona Schanche (Geologist)                                       Purchase 32,851 shares

 

The shares have been purchased at an average price of NOK 0.6088 per share.

 

The abovementioned persons have the following shareholding in Nordic Mining after the purchases:

 

Lars K. Grøndahl: 2,099,851 shares. In addition, Grøndahl has option to buy in total 550,000 shares in Nordic Mining; 275,000 shares at a price of NOK 2.625 per share, and 275,000 shares at a price of NOK 1.60 per share. The options are valid till June 2010.

 

Ottar Nakken: 927,851 shares. In addition Nakken has option to buy in total 550,000 shares in Nordic Mining; 60,000 shares at a price of NOK 2.625 per share,  215,000 shares at a price of NOK 3.15 per share, and 275,000 shares at a price of NOK 1.60 per share. The options are valid till June 2010.

 

Paul I. Norkyn: 92,851 shares. In addition Norkyn has option to buy 275,000 shares at a price of NOK 1.60 per share. The option is valid till June 2010.

 

Mona Schanche: 32,851 shares (no shares before the purchase). In addition Schanche has option to buy 150,000 shares at a price of NOK 1.60 per share. The option is valid till June 2010.

 

 

Oslo, 8 December 2008

Nordic Mining ASA