Dannemora Mineral AB: Press Release 13 February 2009

DANNEMORA SIGNS LETTER OF INTENT FOR IRON ORE DELIVERIES WITH THREE
                      EUROPEAN STEEL COMPANIES

Dannemora Magnetit has been engaged in discussions for some time with
European steel companies regarding future iron ore deliveries. These
discussions have now resulted in the signing of a letter of intent
with three steel companies in northern Europe. The letter of intent
expresses the parties' intention to negotiate a long-term, binding
contract for future iron ore deliveries from the Dannemora iron ore
mine.

Staffan Bennerdt, CEO of Dannemora Mineral and President of the
Dannemora Mineral Group: "The signing of this letter of intent with
some of our intended customers is both heartening and promising - and
a measure of the steel companies' ability to act in a long-term
perspective even in these difficult times. This will also have a
major bearing on our impending financing and the banks' assessment of
the mining project's economic viability."

The three steel companies' combined total annual iron ore consumption
is 25 million tonnes. Dannemora Magnetit is planning annual
production of 1.5 million tonnes at full capacity.

Dannemora Magnetit and the three steel companies have agreed not to
disclose the companies' names at this stage for commercial reasons.


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.