Nordic Mining holds 7 mineral pre-claims for gold in Røysivangen in Eidsvoll municipality in Norway. Previous ground geophysical surveying isolated several shallow conductors comparable to the geophysical pattern known from the sub-economic Brustad gold mines 4 km's to the north.

 

This similarity, the fact that in situ samples at the south termination of the anomaly yielded up to 31 g Au/t, and the 300 meters extend of the anomaly, warranted an exploratory drilling campaign to verify or falsify a correlation between the geophysical anomaly pattern and gold mineralizations.

 

Systematic drilling of a total of 430 meters in 3 holes from the West towards East and one hole from East towards West has verified a pervasive hydrothermal vein system. The chemical analysis of 193 meters of core string distributed amongst 116 samples yielded rare maximum values of 0.05 g Au/t and 81 g Ag/t. Given the high drilling and sampling density and the absence of encouraging grades, Røysivangen is not characterised as a fertile deposit and further prospecting is not warranted.

 

Based on the current prospecting and previous campaigns in the area, it is also concluded that the mineralising hydrothermal vein system is easy to recognize and sample but the patchy appearance of gold mineralizations requires an unreasonably high density of exploratory drill holes to render intersection with the patchy gold mineralizations.

 

For questions please contact CEO Ivar S. Fossum on telephone + 47 - 930 96 850.

 

 

Oslo, 31 July 2008

Nordic Mining ASA