Grängesberg Iron AB

Grängesberg NI43-101 Resource Estimate

September 29th, 2014

Updated June 17th, 2016

Grängesberg Iron AB has received an NI 43-101 Technical Report from Roscoe Postle Associates Inc (“RPA”) showing a compliant resource estimate for the Grängesberg Mine. The Technical Report which was prepared by RPA and was dated 26th September.

RPA concluded that the Grängesberg iron ore deposit hosts a significant iron resource that has excellent potential for expansion at depth. Geophysical interpretations from the 1960s suggest that the ore body continues to at least 1,700 m below surface. Diamond drill holes confirm the mineralization continues to at least 1,100 m to 1,200 m below surface. In RPA’s opinion, more geotechnical, metallurgical, and other engineering studies are warranted to advance this Project. A summary table of the resource estimate can be found following this link:

Summary table