Communiqué from Nordic Mines' extraordinary general meeting

Press release August 15, 2012 At the extraordinary general meeting of Nordic Mines AB (publ), held on August 15, 2012, at Företagshotellet Drabanten, Bangårdsgatan 13, Uppsala, the shareholders resolved to approve the board of directors' resolution of June 13, 2012, on a new issue of shares to Eldorado Gold Cooperatief U.A. ("Eldorado") with derogation from the shareholders' preferential rights and to elect Paul N. Wright as a new member of the board...

Press release August 15, 2012

At the extraordinary general meeting of Nordic Mines AB (publ), held on August 15, 2012, at Företagshotellet Drabanten, Bangårdsgatan 13, Uppsala, the shareholders resolved to approve the board of directors' resolution of June 13, 2012, on a new issue of shares to Eldorado Gold Cooperatief U.A. ("Eldorado") with derogation from the shareholders' preferential rights and to elect Paul N. Wright as a new member of the board.

New issue of shares

The board of director's resolution on a new issue of shares with derogation from the shareholders' preferential rights principally means that not more than 6,750,000 shares will be issued at a subscription price of SEK 6.00 per share. The right to subscribe for the new shares accrue to Eldorado.

According to the issue resolution and the investment agreement entered into between the company and Eldorado on June 13, 2012, the number of shares that Eldorado is entitled to subscribe for shall be reduced by the number of shares Eldorado has been allotted without subscription rights in the rights issue resolved upon by the board of directors of Nordic Mines on May 22, 2012. Eldorado thus has a right and obligation to subscribe for 6,672,944 shares.

Eldorado has today subscribed for all these shares, which means that the existing shareholders will be diluted by approximately 7.8 per cent.

Through the new issue, Nordic Mines raises approximately SEK 40 million. Nordic Mines' share capital will be increased by SEK 6,672,944 to SEK 85,304,238 and the number of shares will be increased by 6,672,944 to 85,304,238 shares. The new shares are expected to be registered with the Swedish Companies Registration Office on or about August 20, 2012 and start trading on NASDAQ OMX Stockholm on or about August 21, 2012.

For further information about Eldorado's investment in Nordic Mines, please see Nordic Mines press release on June 14, 2012.

New member of the board of directors

Paul N. Wright is 58 years old and is chief executive officer and member of the board of directors of Eldorado Gold Corporation since 1999. He has 35 years of experience in the development and operation of open pit and underground gold mines; and is a member of the Canadian Institute of Mining, Metallurgy and Petroleum, the Institute of Materials, Minerals and Mining of London and is a Chartered Engineer (UK). He also holds a Bachelor of Science in Mining Engineering from the University of Newcastle Upon Tyne.

Following the election above, the board of directors consists of Lennart Schönning, Thomas Cederborg, Kjell Moreborg, Stefan Romedahl and Paul N. Wright with Lennart Schönning as chairman.

For additional information, please contact:

Lennart Schönning, Chairman of the Board, +46 (0) 18 84 345 00

Michael Nilsson, CEO, +46 (0)18 84 345 01

For additional information about Nordic Mines, please visit; www.nordicmines.se.

Uppsala, August 15, 2012

On behalf of Nordic Mines AB (publ)

The board of directors

The information above has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publishing at 11.30  on August 15, 2012.

  

Nordic Mines is a Nordic mining and exploration company whose goal is to be one of the leading gold producers in Europe and a role model in respecting the environment. The company started mining gold in the Laiva mine in Finland in summer 2011. These gold deposits are among the largest in the Nordic region. Exploration is in progress in Finland and Sweden. Nordic Mines has 86 employees and its head office is in Uppsala. The Nordic Mines share is traded on the Nasdaq OMX Mid Cap list in Stockholm.

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