Dannemora Mineral AB: Press release 18 June 2008

Environmental Court approves Dannemora Mineral's application to
               conduct mining activities in Dannemora

 The Swedish Environmental Court's approval gives the green light to
 installation work needed to ensure operations in the iron ore mine
                 can start towards the end of 2009.

The Environmental Court's decision on Dannemora Mineral's application
to open the iron ore mine in Dannemora, Uppland, was announced today,
18 June. The Court granted the application for an annual production
of up to two million tonnes of saleable iron ore products. The
Court's ruling also includes leave to issue execution, which means
that operations can start in the event of an appeal against the
court's decision. Dannemora Magnetit AB, a wholly-owned subsidiary of
Dannemora Mineral AB, is the company which formally applied for and
was granted the environmental licence."The environmental court's decision and the associated leave to issue
execution means we can have the iron ore mining operations up and
running by the end of 2009," says Staffan Bennerdt, President and CEO
of Dannemora Mineral. "With analysts unanimous in their expectations
that the strong iron ore market will continue for a number of years,
we shall be able to ride on the back of the iron ore boom and give
the mine a flying start."

All consultation bodies had supported the application, and the
decision was expected, as were the environmental conditions the court
has imposed on the operations. Today's ruling means that Dannemora
Mineral now has the two fundamental official authorisations required
to engage in mining activities, namely a licence issued under the
Swedish Environmental Code and a licence pursuant to the Swedish
Minerals Act.

This document is a translation of the original Press Release in
Swedish. In case of divergence, the Swedish version shall have
precedence.

For further information, please contact:

Staffan Bennerdt, Group President
Telephone 0295- 24 44 22
staffan.bennerdt@dannemoramineral.se

Lennart Falk, CEO Dannemora Prospektering AB
Telephone 0295- 24 44 12
lennart.falk@dannemoramineral.se


Dannemora Mineral AB is a mining and exploration company, with the
main goal to recommence operations in the Dannemora iron ore mine.
The Company also engages in exploration activities to increase the
iron ore base locally and regionally, and to explore base and
precious metals in several areas in Uppland where the potential for
finding feasible mineralisations is considered to be good.

Dannemora Mineral consists of the parent company Dannemora Mineral AB
and the wholly-owned subsidiaries Dannemora Magnetit AB, responsible
for the operations of the Dannemora iron ore mine, Dannemora
Prospektering AB, responsible for all exploration, and Dannemora
Förvaltnings AB, responsible for the property portfolio.

The Company's most important asset is the iron ore deposit at
Dannemora, and activities will initially focus mainly on the planned
mining of this deposit.

The Company's Certified Advisor on First North is E. Öhman J:or
Fondkommission AB.