Nickel Mountain Group AB: Nickel Mountain Group Completes First Set of Environmental Tests on Waste Rock Samples from the Rönnbäcken Nickel Project

Regulatory News:

As a part of the extensive test work included in the Pre-Feasibility Study (PFS), Nickel Mountain Group (NMG or the company) is undertaking detailed analysis on a series of waste rock samples in order to determine the possible environmental effect of these rocks being exposed to weather and wind.

NMG has received the results from the first four waste rock samples from the Rönnbäcken Nickel Project to undergo environmental testing; these samples have been selected from representative rock types present in the drill cores from Rönnbäcken.

This first batch of samples serve dual purposes, the first purpose is to establish whether the routines and methods selected for the test work are suitable and the second purpose is to establish a first base line with regard to the environmental behaviour of the rocks. The tests, both static and kinetic tests, have been supervised, coordinated and reported by Golder Associates in Luleå, Sweden.

The samples were first subjected to whole rock analysis by ALS Minerals using method Me-Ms61m to establish reliable values for the waste rock composition prior to the actual environmental tests. Following this the samples were subjected to Acid Base Accounting (ABA) tests including the determination of Net Neutralisation Potential, Maximum Potential Acidity, Neutralization Potential (NP) and Fizz rate, Neutralisation Potential Ratio (NP:MPA), Paste pH, Total Sulphur, HCl-leachable Sulphate, Sulphide content, Total Sulphate (Carbonate leach) and the Inorganic Carbon (CO2) content.

The third test procedure was Shake Flask tests following the European EN 12457-3 standard to determine the immediate leachability of elements from the samples.

The fourth and final test was Humidity Cell kinetic testing for a period of 40 weeks following the standard ASTM D5744-96 (2001) method.

The results of the tests are very promising, all four rock samples display low or very low discharge rates for all elements and stable long term trends have been established illustrating that the humidity cell test cycles have continued well beyond the time necessary to establish reliable results. Worth noting is that some critical elements such as Chromium, Zinc and Nickel have extremely low discharge rates, so low in fact that the values usually are below the detection limit of the analysis procedure.

From the Acid Base Accounting and Shake Flask Test the company would like to highlight the following results:

· All four tested samples exhibit a Neutralization Potential Ratio above 10 with no risk producing ARD (acid rock drainage)

· All four samples exhibit a sulphide sulphur content equal to or less than 0.1 weight-%

· Shake flask test results compared to European drinking water standard show low concentrations

· Leaching rates in the shake flask test are very low for most elements compared to leachate limits used for waste classification (NFS2004:10) and all criteria for Inert classification are fulfilled.

Mr Torbjörn Ranta, CEO of Nickel Mountain group commented that "This is a significant milestone for the Rönnbäcken Nickel Project regarding the environmental presumptions, encouraging us to continue with further technical, environmental and economical investigations needed for a pre-feasibility study”.

For and on behalf of the Board of Directors of Nickel Mountain Group AB

Torbjörn Ranta

Managing Director

For information, please contact Torbjörn Ranta

Mail: torbjorn.ranta@nickelmountain.se

Tel: + 46 8 402 28 00

Cell Phone: +46 708 855504

Cautionary Statement: Statements and assumptions made in this document with respect to Nickel Mountain Group AB’s ("NMG”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of NMG. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where NMG operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) NMG’s continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) metal prices, particularly as regards nickel. In the light of the many risks and uncertainties surrounding any mineral project at an early stage of its development, the actual results could differ materially from those presented and forecast in this document. NMG assumes no unconditional obligation to immediately update any such statements and/or forecasts.

The vision of Nickel Mountain Group AB is to be an explorer and miner recognized for our attractive assets and ability to effectively run projects from exploration to commercialization, leaving a lasting footprint within the regions we operate through investments, community engagement and transfer of expertise.

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