Communique from annual general meeting of Dannemora Mineral

          COMMUNIQUE FROM ANNUAL GENERAL MEETING OF DANNEMORA MINERAL



The annual general meeting of the shareholders of Dannemora Mineral (publ) was
held on 3 May 2011. The meeting dealt with the following business:

Allocation of earnings
The annual general meeting adopted the income statements and balance sheets of
the Parent Company and the Group for 2010. The meeting also adopted the Board's
proposal for allocation of profits, namely that no dividend be paid for the
2010 financial year.

Discharge from liability
The annual general meeting discharged the Board members and the CEO from
liability for the 2010 financial year.

Election of the Board and adoption of Board fees
The annual general meeting decided that the Board would consist of seven
members. Nils Bernhard, Lennart Falk, Nils Sandstedt, Christer Lindberg and
Niklas Nordström were re-elected to the Board, and Stefan Månsson and Robert Eek
were newly elected. Lars-Göran Ohlsson had declined re-election to the Board.

Nils Bernhard was re-elected as Chairman of the Board. At the inaugural Board
meeting following the AGM, Nils Sandstedt was elected as Deputy Chairman.

The annual general meeting adopted annual Board fees of SEK 1.000.000, to be
allocated as follows: Chairman 300,000, Deputy Chairman 200,000 and other Board
members 100,000 each.

Adopted amendment of the articles of association
The annual general meeting voted to amend the rules on convening annual general
meetings in the articles of association as follows: Notice of the annual general
meeting of shareholders shall be given by announcement in Post och Inrikes
Tidningar (The Swedish Gazette) and by making the information available on the
Company's website. When notice of the meeting has been given, information to
this effect shall be announced in Svenska Dagbladet. Notice of an annual general
meeting or an extraordinary general meeting to consider amendment of the
articles of association shall be issued no sooner than six and no later than
four weeks before the meeting. Notice of other extraordinary general meetings
shall be issued no sooner than six and no later than three weeks before the
meeting.

The annual general meeting also decided that the provision in the articles of
association regarding delegation of signatory powers would be removed.

Mandate to issue new shares
The AGM voted to authorise the Board to issue up to 1.5 million class B shares
on one or more occasions before the next annual general meeting, with or without
preferential rights for shareholders. Payment for newly issued shares shall, on
the basis of the Board's decision, be made in cash, by set-off, with property
other than cash or, in other cases, in accordance with Chapter 2, Section 5,
paragraphs 1-3 and 5 of the Swedish Companies Act.

The purpose of the mandate and the reason for derogating from preferential
rights for shareholders  is to enable the Company to obtain working capital,
develop Riddarhyttan and the Company's other iron ore projects and make company
acquisitions and/or acquire operating assets.

Other
The meeting also adopted guidelines for remuneration of key management personnel
and for the nomination process prior to the 2012 AGM. The meeting's decisions
corresponded with the proposals presented in the Notice of Annual General
Meeting and the associated press release issued on 5 April 2011.



The Press Release can be downloaded from the link below:




[HUG#1512121]