Reference is made to previous press release regarding summons for extraordinary general assembly in Nordic Mining 15 March 2007. The summons includes i.a. proposals for a private placement and a subsequent share capital issue in favor of existing shareholders

 

As a consequence of recent instability in financial markets the board, after consultation with its financial advisor, has concluded, for the time being, that the private placement should not be implemented. Consequently, the board suggests that the general assembly does not resolve the proposed private placement.

 

Other matters proposed for the general assembly will be considered.

 

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

 

Oslo, 14 March 2007
Nordic Mining ASA