Contemplated private placement in Dannemora Mineral

              CONTEMPLATED PRIVATE PLACEMENT IN DANNEMORA MINERAL


Dannemora Mineral AB has engaged First Securities AS to advice on and effect a
potential private placement in the amount of SEK 120 to 165 million before issue
expenses directed towards Norwegian investors and to international institutional
investors.

The contemplated Private Placement will consist of new class B shares, each with
a nominal value of SEK 0.16. The subscription price in the Private Placement
will be set through an accelerated bookbuilding process at or close to the
closing price of the Dannemora share on the First North in Stockholm. Minimum
subscription is EUR 50.000.

The purpose of the Private Placement is to advance certain time critical
investments in ramp decline and exploration and thereby support the Company's
growth, and will be used for general corporate purposes.

The book-building period will commence today (25 March 2010) at 17:30 CET and
close on 26 March 2010 at 08.30 CET. The Company may, however, at any time
resolve to close or extend the bookbuilding period, but in no event earlier than
25 March 2010 at 18:30 CET.

The subscribers in the private placement will be delivered newly issued class B
shares in the company registered in the Norwegian share registry VPS. The
Company will apply for a listing of the new shares on Oslo Axess after the
Private Placement, and the Manager will apply to register the new shares at the
OTC market in Norway until Oslo Axess listing is achieved

The private placement is subject to the approval by the board of directors of
Dannemora. The new shares will be issued pursuant to the authorisation provided
to the board of directors at the extraordinary general meeting on 17 March 2010.

The Press Release can be downloaded from the link below:



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