Nordic Mining has assigned the consultants Adam Wheeler and Bob Dowdell to do a Scoping Study for the Engebø project. The study will give an independent description and evaluation of important assumptions and economic potential of the project. In addition to geological and technical assumptions, the study will provide preliminary estimations of capital expenditure, operating costs and revenues from sale of the main products, i.e. rutile concentrate (TiO2) and garnet. The study will be ready before year-end.

 

Wheeler/Dowdell have previously done planning studies for various projects and mining companies in various countries, e.g. Argentina, Chile, Peru, Kazakhstan and Sweden. Adam Wheeler is a certified competent person and provides independent resource and reserve calculations for mineral projects. Nordic Mining has previously assigned Wheeler as the competent person in connection with mineral resource estimation for the Engebø project.

 

For questions please contact CEO Ivar S. Fossum on telephone +47 - 22 94 77 90.

 

 

Oslo, 4 November 2008

Nordic Mining ASA