Tue, 25 Feb 2020 18:17:51 +0100

NIO publishes preliminary results from the Smart Exploration research project

Nordic Iron Ore is pleased to announce that the cooperation in the EU-supported project Smart Exploration have started to pay dividends.

Nordic Iron Ore's involvement in the Smart Exploration program begins to generate benefits for the company by improving knowledge of both geological and structural information. This allows for more efficient continued exploration. The surveys provide NIO with improved knowledge of where potential mineral resources can be found in the Blötberget area, which is a valuable basis for future exploration work with the aim of increasing NIO's mineral resources and reserves, and can thus increase the life of the mine. Later this year, the research project is expected to present 3-dimensional geological and structural models, which are expected to provide more detailed views of the mineralization in NIO's mining area in Blötberget.

The attached appendix describes the field work done by Smart Exploration at NIO's deposits in Blötberget and some of the results achieved so far.

For further information please contact:

Lennart Eliasson Managing Director
phone: +46 70 640 5177

lennart.eliasson@nordicironore.se

Nordic Iron Ore Group is a mining company with the ambition to revive and develop the iron ore production of Ludvika Mines in Blötberget and Håksberg. The company also intends to expand its mineral resources, and upgrade them to ore reserves, primarily through exploration and other studies of the connecting Väsman field. The Company has all the necessary permits in place for the mine in Blötberget and will be able to produce iron ore of extremely high quality.

For more information, see www.nordicironore.se.

SmartExploration