The Otso Gold Mine in Finland has all necessary licenses and permits in place to begin mining and processing materials. An expedited redevelopment plan involves infill drilling and mining in phases to restart production as soon as Q3 2020. The mine has defined mineral resources and was previously in production. With a restarted process plant and optimized drilling and mining plan, the Otso Gold Mine has solid fundamentals to become a low-cost producer again.

1. OTSO GOLD MINE, FINLAND

2. This presentation contains “forward-looking information” (also referred to herein as “forward-looking statements”) under the provisions of applicable securities legislation. Generally, these forward-looking statements can be identified by the use of
words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”,
“might” or “will”, “occur” or “be achieved” or the negative connotation thereof. Forward-looking statements include, but are not limited to, those in respect of: the economic outlook for the mining industry; expectations regarding gold and other
precious metal prices; the timing and amount of estimated future production; the current and planned commercial operations, initiatives and objectives in respect of Nordic Gold Inc.’s (“Nordic” or the “Company”) Otso Gold Mine project located in
Raahe, Finland (the “Otso Gold Mine”); the estimation of Mineral Reserves and Mineral Resources; changes in Mineral Resources and conversion of Mineral Resources to Proven and Probable Mineral Reserves; Nordic’s current and planned
exploration initiatives; liquidity, capital resources and expenditures; sustainability and environmental initiatives and objectives; business development strategies and outlook; planned work programs and drilling programs in respect of the Otso Gold
Mine; anticipated mine life, recovery rates and operating efficiencies; costs and expenditures, including capital and operating costs; costs and timing of the development of new deposits; targeted cost reductions; success of exploration activities;
permitting timelines; currency fluctuations; requirements for additional capital; government regulation of mining operations; environmental matters; closure obligations and unanticipated reclamation expenses; title disputes or claims; limitations on
insuranc coverage; the timing and possible outcome of pending litigation; and other information that is based upon forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, if untrue, could cause actual results, performance or achievements to be materially different from future results, performance or achievements
expressed or implied by such statements. Assumptions have been made regarding, among other things: present and future business strategies and the environment in which the Company will operate in the future, including commodity prices,
anticipated costs and ability to achieve goals; Nordic’s ability to carry on its exploration and development activities and the success of same; the timing and results of drilling programs; the discovery of mineral resources and mineral reserves; the
timely receipt of required approvals and permits, including those approvals and permits required for successful project permitting, construction and operation of Nordic’s Otso Gold Mine project; the costs of operating and exploration expenditures;
Nordic’s ability to operate in a safe, efficient and effective manner; Nordic’s ability to obtain financing as and when required and on reasonable terms; dilution and mining recovery assumptions; assumptions regarding stockpiles; the accuracy of
geological, mining and metallurgical estimates; no significant unanticipated operational or technical difficulties; maintaining good relations with the communities; no significant events or changes relating to regulatory, environmental, health and
safety matters; certain tax matters; and no significant and continuing adverse changes in general economic conditions or conditions in the financial markets (including commodity prices, foreign exchange rates and inflation rates). Readers are
cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. * See Appendix for more.Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors
that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to, those in respect of: risks related to the
integration of new management; volatility of the price of gold and other metals; geopolitical factors including economic and political instability or unexpected regulatory changes in foreign jurisdictions in which Nordic operates; current global financial
conditions; results of current and planned exploration activities and drilling programs; discrepancies between actual and estimated production, mineral reserves and mineral resources, grade and metallurgical recoveries; failure to replace mineral
reserves; mining operational and development risks; results of current reclamation activities; environmental policies and risks; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in the
market, demand, supply and/or uses of gold and other metals; accidents; labour disputes; delays in obtaining governmental approvals or financing or in the completion of development or construction activities and other risks of the mining industry;
inaccuracies or changes in the analysis of the exploration potential of the Otso Gold Mine; failure to complete the work programs or drilling programs at the Otso Gold Mine; delays, suspensions or technical challenges associated with capital
projects; risks relating to reliance on historical data; failure of plant, equipment or processes to operate as anticipated; taxation risks; title risks; opposition from community or indigenous groups; compliance with laws, including environmental laws;
exchange controls; higher prices for fuel, steel, power, labour and other consumables; as well as those factors discussed in the section entitled “Risk Factors” in Nordic’s most recent management’s discussion and analysis available under Nordic’s
profile on SEDAR at www.sedar.com. Although Nordic has attempted to identify important factors, assumptions and risks that could cause actual results to differ materially from those contained in forward-looking statements, there may be others
that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such
forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are
made and, accordingly, are subject to change. Nordic assumes no obligation to update any forward-looking statements that are included in this presentation, whether as a result of new information, future events or otherwise, except as required by
law. Non-IFRS Measures This presentation refers to “EBITDA” (earnings before interest, taxes, depreciation and amortization), “Adjusted EBITDA”, “Net Debt”, “C1 Cash Cost” and “All-In Sustaining Cost”, which are financial performance
measures with no standardized meaning under International Financial Reporting Standards (“IFRS”). Such non‐IFRS financial measures do not have any standardized meaning prescribed by IFRS andare therefore unlikely to be comparable to
similar measures presented by other issuers. Management uses these measures internally to evaluate the underlying operating performance of Nordic for the relevant reporting periods. The use of these measures enables management to assess
performance trends and to evaluate the results of the underlying business of Nordic. Management understands that certain investors, and others who follow Nordic’s performance, also assess performance in this way. Management believes that
these measures reflect Nordic’s performance and are better indications of its expected performance in future periods. This data is intended to provide additional information and should not be considered in isolation or as a substitute for measures
of performance prepared in accordance with IFRS.
IMPORTANT NOTICES AND DISCLAIMERS
Add a little bit of body text
*
he technical disclosures in this presentation have been reviewed and approved by EUR ING Andrew Carter BSc, CEng, MIMMM, MSAIMM, SME a Qualified Person as defined by National Instrument 43-101.t

3. Capital Structure
Shares on Issue – 215M
Share Price – CAD 0.05
Market capital – CAD 9M
Debt – USD 23 M - Restructured from ~USD 54.5M
Tax Losses - USD 155 M
Majority Shareholders
30% Project Vendors
30% Canaccord Nominees
20% Pandion Mine Finance
10% Lionsbridge
Board of Directors - Change
Brian Wesson - CEO, President
Daryl Midgley - Chief Financial Officer
Clyde Wesson - Director & Vice President
Yvette Harrison - Independent Director
NORDIC GOLD TSX-V NOR

4. TEAM
Technical Services
Director & VP
Alind Nand
MSc (Geology) UTAS
Brian Wesson
Chief Executive Officer
MBA, Fellow of AUSIMM & AICD
Daryl Midgley
CFO
Clyde Wesson
Administration, Industrial
and Landowner Relations
Amelia Wesson
Bcom, LLB, LLM(2019),
MAICD. MAusIMM
MAICD.
Tim Wrigley
Rod Elvish
Mari Kosamo
Executive Administration
Manager
Juha Tiainen
Executive Relations
Manager
Environmental Officer
Phd (Environmental Studies)
Fellow of AusIMM
Chief Geologist
Peter Gilligan
MBA, Royal School of Mines
Chief Metallurgist
PMSc (Metallurgy), FAusIMM
Scott Salisbury
Executive Operations
Manager
ONSITE TEAM

5. LOCATION

6. The Otso Gold Mine is focused on sustainable and environmentally conscious
mining, to this end we:
SustainableMining
use a significant percentage of windpower in our energy mix
and are investigating the erection of Otso owned wind
turbines on site
maintain the highest level of environmental management and
have a strong emphasis on best practice in all areas of our
operations.
are located in Finland with strong rule of law and worker
protection
operate to disturb the local environment and extensive wildlife
as little as practicable.

7. RUN LIVE MODEL WITH
TETRATECH TO OPTIMISE THE
DRILL PROGRAM
Ready to Produce
LICENSING AND PERMITTING
INFRASTRUCTURE
PROCESS PLANT
COMPLETE PREPARATORY WORK
FOR PRODUCTION
UPDATE TECNICAL REPORT NI
43-101/JORC TETRA
TECH/COFFEY
DESIGN DRILL PROGRAM IN
CONJUNCTION WITH TETRATECH
TO INFILL DRILL AND UPGRADE
RESOURCES
BEGIN DRILLING PROGRAM
MINE INTO PIT IN THE INITIAL
DRILLING ZONES - PIT
EXTENSIONS
CONTINUE DRILLING PROGRAM WITH
TETRATECH/COFFEY.
RESTART PROCESS PLANT IN JULY
2020
All Elements in Place for Production Redevelopment Plan
MINE

8. ALL LICENSES FOR OPERATION ARE IN PLACE.
ALL PERMITS TO MINE ARE IN PLACE AND CURRENT.
ENVIRONMENTAL PERMITS FOR MINING AND TAILINGS FACILITIES ARE CURRENT
AND ALL CONTINUED REQUIREMENTS FOR MONITORING HAVE BEEN MET.
MINE HAS ALL PERMISSIONS AND APPROVALS TO MINE AND PROCESS MATERIAL
TODAY.
Licensing and Permitting

9. ALL LICENSES FOR OPERATION ARE IN PLACE.
ALL PERMITS TO MINE ARE IN PLACE AND CURRENT.
ENVIRONMENTAL PERMITS FOR MINING AND TAILINGS FACILITIES ARE CURRENT
AND ALL CONTINUED REQUIREMENTS FOR MONITORING HAVE BEEN MET.
MINE HAS ALL PERMISSIONS AND APPROVALS TO MINE AND PROCESS MATERIAL
TODAY.
Licensing and Permitting

10. ALL LICENSES FOR OPERATION ARE IN PLACE.
ALL PERMITS TO MINE ARE IN PLACE AND CURRENT.
ENVIRONMENTAL PERMITS FOR MINING AND TAILINGS FACILITIES ARE CURRENT
AND ALL CONTINUED REQUIREMENTS FOR MONITORING HAVE BEEN MET.
MINE HAS ALL PERMISSIONS AND APPROVALS TO MINE AND PROCESS MATERIAL
TODAY.
Licensing and Permitting

11. ALL LICENSES FOR OPERATION ARE IN PLACE.
ALL PERMITS TO MINE ARE IN PLACE AND CURRENT.
ENVIRONMENTAL PERMITS FOR MINING AND TAILINGS FACILITIES ARE CURRENT
AND ALL CONTINUED REQUIREMENTS FOR MONITORING HAVE BEEN MET.
MINE HAS ALL PERMISSIONS AND APPROVALS TO MINE AND PROCESS MATERIAL
TODAY.
Licensing and Permitting

12. Infrastructure
THE MINE IS IN A MINING JURISDICTION WITH:
4
Airport an hour
from site
Low cost power
on site
Sealed roads
to site
Port 20 minutes
from site

13. Process Plant
Process plant is production ready having operated in 2019.
All equipment is maintained and regularly tested.
All first fills are on site, zero capex required to return to production.
Proven operating recovery of 87.5%
Process cost of 305 euro/oz.
The Otso Gold Mine process plant is state of the art built by and with
Metso and Outotec equipment. The process plant is gold plated with a
construction cost of approximately 200 million Euros.
11

14. PROCESSING
State-of-the-art 2 million tonne
Metso and Outotec designed
process plant.
Jaw crusher HP160, SAG and
pebble mill 3500 kW each
Pebble crushers in series HP200
and HP100 flash flotation
Optimal grind 75 micron
High grade CIL plant
Low grade CIL
Conservative recovery of 85 %.
Head grade 1.5 g/t Au.
1.
2.
3.
4.
5.
6.
7.
8.

15. Conservtive mining
cost of euro 506/oz.
MINING
There are currently
two open pits, the
north and south pits,
on site at depths of
50 metres and 25
metres respectively.
Mining will be
through owner
mining using a CAT
leased fleet
consisting of 10 777
trucks and 3
excavators being a
mixture of 6015s
and 390s.
All mining is simple
and low cost with
an emphasis on
grade control and
reconciliation.

16. NI 43-101 SEPTEMBER 2019
TETRA TECH/COFFEY UK
*The material remaining in the low-grade stockpile from previous production has been included in the measured category as it is ready to be fed
to the mill at start-up. The sulphidic waste rock dump (potentially acid forming) is included in the inferred category of the estimate as it is
considered to be above the planned cut-off grade of 0.3 g/t Au.
**See also NI 43-101 Technical Report with effective date 18 September, 2019 filed on www.sedar.com with the Company's profile.

17. NORTH/WEST MODEL: GOLD GRADE

18. REDEVELOPMENT PLAN
Lionsbridge, in consultation with TetraTech and our onsite staff, have developed a expedited redevelopment
plan which moves the mine into production as soon as practicable whilst ensuring the areas being mined are
adequately understood.
The Redevelopment plan will be:
Phase One – Q4 2019, Q1 2020
Infill drilling Program to adequately define mining areas in Southern Extension of North Pit and Northern
Extension of South Pit
Phase Two – Q2 2020
Mining of Southern Extension of North Pit and Northern Extension of South Put
Infill Drilling of South Pit and Eastern Extension of North Pit
Preparation work for mining of South Pit
Phase Three – Q3 2020
Mining of South Pit and Southern Extension of North Pit
Infill Drilling of North Pit
Preparation work for mining of North Pit
Phase Four – Q4 2020
Mining of North Pit and South Pit, including extensions
Exploration Drilling of Northern Extension of North Pit

19. REDEVELOPMENT PLAN
PHASE ONE

20. PHASE ONE - DRILLINGCROSS SECTION LOOKING WEST, NORTH PIT

21. PHASE ONE - DRILLINGCROSS SECTION LOOKING WEST, SOUTH PIT

22. DRILLING BEGUN
DRILLING HAS BEGUN ON SITE WITH THE SOUTHERN EXTENSION OF NORTH PIT TO BE COMPLETE BY CHRISTMAS.

23. REDEVELOPMENT PLAN
PHASE TWO

24. PHASE TWO - DRILLINGCROSS SECTION LOOKING WEST, SOUTH PIT

25. PHASE TWO - DRILLINGCROSS SECTION LOOKING WEST, EASTERN EXTENTION NORTH PIT

26. REDEVELOPMENT PLAN
PHASE THREE

27. PHASE THREE - DRILLING
CROSS SECTION LOOKING WEST, NORTH PIT

28. PHASE THREE - DRILLING
CROSS SECTION LOOKING WEST, NORTH PIT

29. REDEVELOPMENT PLAN
PHASE FOUR

30. PHASE FOUR
EXPLORATION DRILLING
CROSS SECTION LOOKING WEST PP AND NEW HOPE AREA

31. PHASE FOUR
EXPLORATION DRILLING
CROSS SECTION LOOKING WEST PP AND NEW HOPE AREA

32. FUTURE POTENTIAL
Within the current Mining Lease we have
two exploration targets at the end of the
current drilling program with significant high
impact targets - the New Hope and Petrol
Pump areas.
We will turn the PAF extension into a heap
leach once permitting is complete which will
see an additional 20,000 ounces produced
with minimal CAPEX or OPEX.
We hold significant land in exploration leases
regionally which were identified and drilled
by OutoTec and contain promising intercepts.
4

33. Heap Leach And CIL
Resources Feed
THE LODES SHOW HIGH AND LOW GRADE ZONATION. THE ZONE MUST BE
DRILLED, BLASTED AND MOVED. PROCESSING LOW GRADE ORE IN A
HEAP LEACH WILL IMPROVE PROFITABILITY, INCREASE THE GRADE OF THE
CIL AND OPTIMISE GOLD RECOVERY.
4

34. SOLID PROJECT
FUNDAMENTALS
Low cost operation open cut and two
million tonne throughput process plant.
Well-defined mineralised zone. The Laiva
deposit is one of the largest gold
resources in the region.
Drilled and understood. 3,527 drill holes
for 145,540 metres.
State of the art mine, built by Metso
Minerals costing > EUR 250M.
Mine operated this year, plant serviced,
first fills and production ready.
VALUE SCENARIO
STRONG MARKET
ENVIRONMENT
Strong gold price.
USD1,500/ounce against the feasibility
price of USD553/ounce
World-class mining jurisdiction. AA+
country, favourable regulatory
environment for mining and exploration.
Improving exchange rate, increasing Euro
sales price.
Historic market capital, NASDAQ First
North peaked at EUR 600M.
DE-RISKED START
UP FEASIBILITY
Pandion Mine Finance gold loan
converted to debt from USD 54.5M to
USD 24.6M with injection of USD 6M for
care and maintenance costs.
No construction, financial or
commissioning risk. Modest restart
capital with substantial security.
Strong resource base, two developed
open pits.
Experienced management and skilled
workforce.

35. Exciting mining opportunity in world class
mining jurisdiction with short runway to
production, low price for entry and great
exploratory potential.

36. BRIAN WESSON
CEO, President
brian.w@nordic.gold
https://www.mining-journal.com/leadership/news/1366733/new-nordic-gold-backer-
clears-the-boardroom
https://m.miningweekly.com/article/under-new-management-nordic-sets-out-path-
forward-for-finland-gold-mine-2019-10-11/rep_id:3861
In the news: