Nordic Mining has completed assaying of the mineralized intervals for the two drill holes from the company’s Nickel (Ni), Copper (Cu), Cobalt (Co), Palladium-Platinum-Gold (PGE+Au) prospect at Reinfjord on the Øksfjord Peninsula in Northern Norway.

Highlights

Best intersections from the drill holes:

-      Drill hole RF-1: 7 meters grading 0.38% Ni / 0.12% Cu
-    Drill hole RF-1: 5.25 meters grading 0.54 g/t PGE+Au
-    Drill hole RF-2: 22 meters grading 0.29% Ni / 0.05% Cu

Exploration Manager Mona Schanche comments: “We are pleased with the results showing that the metal enriched section for the first drill hole is wider than first indicated. The results from the second drill hole indicate that the conductive body is not uniform in terms of metal grades and lithology. We will put effort into understanding the relationship between complex geological setting, mineralized intervals and the modelled conductor.”

Drilling results

In May 2012 Nordic Mining completed two drill holes to depths of 240 meters and 170 meters, respectively. The assay results show that the base and precious metal mineralized zones in drill hole RF-1 is wider than first indicated (ref. press release 06.06.12). Drill hole RF-2 shows a complex lithology with cross-cutting younger intrusive phases which seems to carry more iron rich sulphides. The pegmatitic rock type hosting platinum-palladium enriched interval in hole RF-1, has not been found in hole RF-2. Whole-rock chemical analyses will be done to characterise various rock units. Microscopic observations show that pentlandite and chalcopyrite are ore forming minerals in drill hole RF-1, while cubanite, native copper and pentandite are present in drill hole RF-2.

The table below shows the average base and precious metal content for the best mineralized intersections in drill hole RF-1:

The table shows that a 7 meter wide Ni-Cu zone is underlain by an approximately 9 meter wide PGE enriched zone.

The table below shows the average base and precious metal content for the best mineralized intersection in drill hole RF-2:

Tables in attachment 1 show the complete assays for the mineralized zones.

Exploration Rights and Qualified Person

Nordic Mining has Exploration Rights in the mineralized area of the Reinfjord Intrusion situated in Kvænangen municipality in Troms county, Norway. The Exploration Rights are located at an altitude of approximately 600 meters above sea level, with short distance to the coast and the Reinfjord village.

The Qualified Person for Nordic Mining’s Reinfjord project, Markku Iljina with a designation of European Geologist from the European Federation of Geologists (EFG), has reviewed and verified the content of this release.


Nordic Mining ASA

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

The Company has production of anorthosite products through its subsidiary Gudvangen Stein AS. Further, Nordic Mining through its subsidiary Nordic Rutile AS is undertaking large-scale project development at Engebøfjellet in Sogn and Fjordane where the Company has rights to a substantial eclogite deposit with rutile and garnet. Nordic Mining has rights for exploration and production of high-purity quartz in Kvinnherad municipality in Hordaland county and develops the project through its subsidiary Nordic Quartz AS Through its subsidiary Keliber Oy in Finland, Nordic Mining plans to start mining of lithium bearing spodumene and production of lithium carbonate.

Nordic Mining is listed on Oslo Axess.


For questions please contact Exploration Manager Mona Schanche, telephone +47 922 81 253.


Oslo, 4 July 2012
Nordic Mining ASA

Attachment -120704 Reinfjord