Nordic Mining ASA (EN Expand:NOM): Nordic Mining wins against AMR on all counts at the supreme court

 

Release in English:

Reference is made to the stock exchange notice from Nordic Mining ASA
("Nordic Mining" or the "Company") on 30 November 2022 regarding Artic Mineral
Resources' ("AMR") appeal of the ruling from Borgarting Court concerning the
Engebø deposit.

After full oral arguments before the Supreme Court over 5 days in late January,
the Norwegian Supreme Court has today ruled. As expected, the ruling is in
favour of Nordic Mining on all counts. The court has also ruled that AMR shall
pay all legal expenses. With this ruling the litigation from AMR is at an end.

As argued by Nordic Mining and the Norwegian Government, the ruling concludes
that all minerals in the Engebø deposit ore are owned by the Norwegian state. As
a consequence, Nordic Mining, through the mining rights granted by the state,
has a sole and exclusive right to mine the Engebø deposit, including titanium
and garnet. AMR has never had any claim or rights in the deposit.

"I am pleased that the Supreme Court admitted the case, and that they cleared up
the questions raised by AMR.

This case highlights the importance a stable and competent government has for
development of new and desirable long term industrial activity in Norway. My
sense of gratitude upon reading the ruling was therefore very much also on
behalf of the Norwegian mineral industry in general. " says CEO Ivar S. Fossum.

For further information, please contact CEO Ivar S. Fossum, telephone +47 930
96 850.

Release in Norwegian:

Det vises til børsmelding fra Nordic Mining ASA ("Nordic Mining" eller
"Selskapet") 30. november 2022 knyttet til Arctic Mineral Resources ("AMR") anke
over dom i Borgarting lagmannsrett knyttet til Engebøforekomsten.

Etter muntlige forhandlinger over 5 dager i slutten av januar, har Høyesterett i
dag avsagt dom i saken. Som forventet er dommen i favør av Nordic Mining på alle
punkter. Retten har også bestemt at AMR skal dekke alle saksomkostninger. Dommen
markerer slutten på søksmålene fra AMR.

I samsvar med Nordic Minings og statens anførsler, bekrefter Høyesterett at alle
mineraler i Engebøforekomsten eies av staten. Dette innebærer at Nordic Mining
gjennom sin utvinningstillatelse har enerett til å utvinne mineralene i
Engebøforekomsten, herunder rutil og granat. AMR har aldri hatt noen krav eller
rettigheter knyttet til forekomsten.

 "Jeg er glad for at Høyesterett tok opp saken og avklarte spørsmålene som ble
tatt opp av AMR.

Denne saken viser hvor viktig en stabil og kompetent myndighet er for
utviklingen av ny og langsiktig industrivirksomhet i Norge. Dommen er også
viktig for mineralindustrien generelt" sier CEO Ivar S. Fossum.

For ytterligere informasjon, vennligst kontakt CEO Ivar S. Fossum, telefon +47
930 96 850.

Oslo, 21 March 2024
Nordic Mining ASA

Nordic Mining ASA ("Nordic Mining" or the "Company") (www.nordicmining.com) is a
resource company with focus on high-end industrial minerals and metals. The
Company's project portfolio is of high international standard and holds
significant economic potential. The Company's assets are in the Nordic region.

Nordic Mining is undertaking a large-scale project development at Engebø on the
west coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. In addition, Nordic Mining holds
interests in other initiatives at various stages of development. This includes
patented rights for a new technology for production of alumina and exploration
of high purity quartz.

Nordic Mining is listed on Euronext Expand Oslo with ticker symbol "NOM".
 

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