Oslo, Norway - February 4, 2026 - Nordic Mining ASA ("Nordic Mining" or the
"Company"), a resource company with focus on critical minerals, today released
its fourth-quarter financial results and operational update.  With an
experienced operational management now in place, the Company enters a new phase
in the ramp-up of Engebø & Rutile Garnet (ERG) defined by strong focus on
execution and operational discipline.

Supported by Systemex, a Canada-based firm specializing in industrial and mining
ramp-ups, the Company continues its operational improvement program towards
achieving design capacity by year end 2026. Systemex' initial review confirms
that ERG is a viable operation with sufficient installed capacity.

"Our year-end operational challenges prompted immediate action: We brought in
experienced operational management, supported by Systemex and other technical
partners, and we are pleased that the initial assessments performed in January
confirms that[ ]Engebø is a viable operation with sufficient installed capacity
capable of reaching design throughput." said CEO Finn Ivar Marum.

In January 2026, the company raised NOK 200 million through a private placement,
strengthening its financial position to execute remaining ramp-up activities.
The proceeds will support working capital, essential maintenance and expansion
capex, and general corporate purposes.


Q4 2025 highlights:

  · One Lost Time Injury (LTI) recorded in the quarter
  · Ramp-up was slower than expected, primarily due to plant stability and
equipment reliability impacting production consistency
  · Significant improvements were made in crushing, milling and wet processing
uptime in November and December