Bissa-Bouly 2018 Exploration Update

• Advanced exploration programme to replace mined gold and increase resources
• Bissa-Bouly combined production set to exceed 300 koz/year

London, United Kingdom, 15 May 2018 — Nord Gold SE (“Nordgold” or the “Company”, “Group”), the internationally diversified gold producer, is pleased to report that its 2018 exploration program is advancing rapidly at its Bissa and Bouly mine in Burkina Faso, and is on track to achieve its objectives of replacing mined gold and increasing resources. In 2017, exploration activity added almost 1,147 koz to Bissa and Bouly Mineral Resources and some 70 koz to the Ore Reserves. In 2018, 86km to be drilled within the exploration program. In 2017, 61km was drilled.

Nordgold is taking a three-pronged approach to this extensive exploration programme:

• Nordgold’s specialist team at Bissa will be focussing on near-mine extensions at existing pits, with a particular emphasis on increasing reserves at the SW, 51, I-O, Bissa Hill, Bouly and Gougre open pits.
• An aggressive effort will be aimed at the discovery of new brownfield satellite deposits, enabled by the acquisition of the highly prospective Rolle, Sadoure and Nonglado exploration licenses, where geological work is ongoing.
• A program of reserve definition, resource addition, and various permitting activities will come into effect at the Samtenga, Ronguen, Zinigma, Yimiougou satellite deposits, enabling these reserves to be put into production progressively between 2019 and 2022.

“Taken together, the exploration, mining and continuous improvement projects at Bissa and Bouly will result in a safe and effective prolonged life of mine, securing the future not just of these high quality assets, but the jobs of over 1,200 local workers. Bissa and Bouly’s combined annual gold production is projected to exceed 300 koz per year over the medium term. That makes the combined asset one of the largest enterprises in Burkina Faso, an achievement that we at Nordgold are very proud of.” Howard GoldenGeology Director of Nordgold

Q1 2018 Highlights

• In Q1 2018, refined gold production of 225.1 thousand gold equivalent ounces (“koz”) was 6% lower year-on-year (“YoY”) and 10% lower quarter-on-quarter (“QoQ”).
• Revenue increased by 2% YoY to US$300.0 million in Q1 2018, mainly as a result of the higher average realised gold price. QoQ revenue decreased by 6% due to lower sales volumes.
• EBITDA of US$126.0 million in Q1 2018, was down both YoY and QoQ mainly driven by higher costs.
• Net profit for Q1 2018 of US$42.4 million and normalised net profit attributable to shareholders (1) of US$37.4 million.
• Operating cash flow of US$97.0 million in Q1 2018 and negative free cash flow (1) generation of US$14.4 million as a result of the continued construction of the Gross mine.
• Total debt of US$1,000.5 million and net debt (1) of US$691.5 million at the end of Q1 2018.
• Q1 2018 capex (1) of US$121.3 million was 96% higher YoY as result of the investments into the Gross mine construction along with the higher capitalised stripping.
• All-in sustaining costs (1) (“AISC”) was up by 19% YoY and 12% QoQ to US$1,001/oz in Q1 2018 mainly due to higher capex.
• The Lost time injury frequency rate (LTIFR) in Q1 2018 improved to 1.05 compared with 1.70 in Q1 2017 and 1.20 in Q4 2017.

(1) For detailed definition, please see «Non-IFRS Financial Measures».

For further information, please contact:

Nordgold
Andrei Naumov
Media Relations Specialist
Tel: +7 495 644 4473

Powerscourt
Peter Ogden
Giles Read
Tel: +44 (0) 20 7250 1446