Nordic Mining has completed due diligence of Gudvangen Stein AS with satisfactory result.

 

In February 2007 Nordic Mining entered into agreement with Nannok Invest AS to acquire 85% of the shares in Gudvangen Stein, with option to buy also the remaining 15%. Gudvangen Stein produces anorthosite from its mining plant in Gudvangen. Production and sales are increasing, and turnover in 2006 was around NOK 20 million.

 

The parties intend to complete the transaction as scheduled in May 2007.

 

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

 

Oslo, 7 May 2007
Nordic Mining ASA