Dannemora Mineral AB: Press Release 26 January 2009

DANNEMORA GROUP'S EXPLORATION ACTIVITIES
                     MOVE TO DANNEMORA MAGNETIT

Dannemora Mineral is transferring responsibility for the Group's
exploration activities to Dannemora Magnetit AB, where exploration
will form a separate division.

The organisational change was prompted by a desire to clarify the
prioritisation of exploration activities as mining commences in the
Dannemora iron ore mine and increase the group's iron ore reserves,
particularly in the immediate vicinity of Dannemora. The Exploration
division will also work on regional prospecting for iron ore and base
and precious metals.

Lennart Falk is leaving his operational role as CEO of Dannemora
Prospektering AB and Deputy CEO of Dannemora Mineral AB, but remains
a member of the Group's Board of Directors and will still be engaged
on other assignments in the Group.

He is succeeded as Head of Exploration activities by Peter Svensson.
Peter joined Dannemora Prospektering AB in February 2007, having
previously been responsible for exploration operations in the Group.

The above changes take place with retrospective effect from 1 January
2009. Consequently, Dannemora Prospektering AB becomes a dormant
company from that date.


For further information, please contact:

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


Dannemora Mineral AB is a mining and exploration company, with the
main goal to recommence mining 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 mineable deposits is considered good.

Dannemora Mineral comprises the parent company Dannemora Mineral AB
and the wholly-owned subsidiaries Dannemora Magnetit AB, which is
responsible for operation of the Dannemora mine and the Group's
exploration activities, and Dannemora Förvaltnings AB, which is
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.