Reserves of Keliber’s largest lithium deposit increased by 55 percent

Keliber has today announced an update of the company’s ore reserves estimate, with an effective date as of 31 August 2021. The update is based on the revised mineral resource estimate, published in May 2021. Keliber’s total proven and probable ore reserves have increased to 12.30 million tonnes, representing a growth of 32 percent, compared to the previous estimate published in December 2019. The ore reserves of the largest lithium deposit, Rapasaari, have increased by 55 percent.

Keliber’s total proven and probable ore reserves are 12.30 million tonnes (2019: 9.37 million tonnes) at an average grade of 0.94% (2019: 0.98%) Li₂O, using a cut-off grade of 0.40% Li₂O for the open pit ore reserves and a cut-off grade of 0.40–0.70% Li₂O for the underground ore reserves. The Rapasaari deposit represents 67% (2019: 56%) of Keliber’s total ore reserves. Keliber’s ore reserve estimates comply with the JORC 2012 Code.

Keliber’s press release is available at: https://www.keliber.fi/en/news/news-releases-and-publications/90BE476062538F95/.

Nordic Mining holds 14.3% of the shares in Keliber Oy.

Oslo, 15 September 2021
Nordic Mining ASA

Nordic Mining ASA (www.nordicmining.com)

Nordic Mining ASA (“Nordic Mining” or the “Company”) is a resource company with focus on high-end industrial minerals and metals. The Company’s project portfolio is of high international standard and holds significant economic potential. The Company’s assets are in the Nordic region.

Nordic Mining is undertaking a large-scale project development at Engebø on the west coast of Norway where the Company has rights and permits to a substantial eclogite deposit with rutile and garnet. Nordic Mining also holds 14.3% of the shares in Keliber Oy, which is developing a lithium project in Finland to become the first European producer of battery grade lithium hydroxide.

In addition, Nordic Mining holds interests in other initiatives at various stages of development. This includes patented rights for a new technology for production of alumina and exploration of seabed minerals.

Nordic Mining is listed on Euronext Expand Oslo with ticker symbol “NOM”.