Dannemora Mineral AB: Press Release June 10, 2008

The Board of Dannemora Mineral has called an extraordinary general
meeting of shareholders on 24 June 2008 in order to consider

  * A proposal authorising the Board to implement a share issue; and
  * A proposal to issue warrants to key management personnel in the
    company.

It is the Board's intention, as soon as possible, after the EGM to
implement a private placement of approx. SEK 150 million to finance
pumping of the iron ore mine in Dannemora and other time-critical
installation work.

In the second half of 2008, the Board plans to complete its ongoing
financing discussions and to obtain more of its own and external
capital in a coordinated financing programme, to the extent required
for the iron ore project in Dannemora.

Background

Dannemora Mineral owns an exploitation concession for the mine area
in Dannemora and has applied for a mining licence, issued under the
Swedish Environmental Code. The Swedish Environmental Court will make
its decision known on 18 July. Provided the Swedish Environmental
Code licence is received, the company will hold all the important
authority licences and permits required to carry out mining
operations in Dannemora.

Dannemora Mineral has conducted a feasibility study on the re-opening
of the Dannemora iron ore mine. The study indicates good
profitability for the project and an estimated investment requirement
of SEK 838 million for the preparatory work, equipment and
installations. The study also estimates a working capital requirement
of between SEK 200 and 300 million. The total financing requirement
for the Dannemora mining project is therefore expected to be approx.
SEK 1,100 million, distributed over three to four years.

Dannemora Mineral has made far-reaching preparations so that it will
be in a position to immediately purchase installation work and
equipment as soon as the company is granted a licence issued under
the Swedish Environment Code. The company is currently purchasing
equipment and services to clear the mine of approx. 5 million cubic
metres of water. Time-critical projects also include placement of
ramps to connect the ground with the main level of 460 metres
construction of a new ore processing plant.

Financing plan

After sounding out various potential backers, it was decided that the
Dannemora mining project would be financed with just over a third of
the company's capital and the remainder externally. The external
capital is expected to comprise bank loans and/or bonds, and supplier
financing in the form of leasing.

Dannemora Mineral is planning two share issues to raise the required
additional share capital, which is estimated at approx. SEK 400
million. The first is expected to amount to approx. SEK 150 million.
The Board is planning to implement the first share issue without
preferential rights to shareholders (private placement) and the
second with preferential rights. The rationale behind the private
placement is to broaden the company's ownership, thereby facilitating
implementation of the planned preference issue and also increasing
liquidity and trading in the company's share.

Dannemora Mineral is planning to implement the private placement of
approx. SEK 150 million as soon as possible after adoption by the
extraordinary general meeting. The company will then implement a
preference issue later in 2008 in a coordinated financing programme
that will also secure its loan financing.

Dannemora Mineral has engaged E. Öhman J:or Fondkommission AB as its
financial advisor for the planned share issues.

Board mandate

The Board proposes that it be given a 'carte blanche' mandate for the
entire financing process. The Board mandate should be designed to
allow it to act and respond appropriately to changing situations and
business conditions in financial markets which are unfathomable and
turbulent at present. The Board's financing plan is largely outlined
above. However, it is worth noting that the financial markets may
develop in such a way that changes to the plan may be necessary at
short notice.

Warrants to key management personnel

The Board of Dannemora Mineral proposes that a small number of key
management personnel in the group be offered share options and be
given the opportunity to acquire warrants in Dannemora Mineral on
market terms and conditions.  It is the Board's opinion that the
proposed option scheme is conducive to encouraging these key
individuals to remain with the company. The total number of warrants
issued to ensure Dannemora Mineral's commitment will (together with
the previously issued warrants) produce a dilution of approx. 5.3
percent of share capital in the case of full subscription, estimated
on the basis of present outstanding shares.

Time and place of the general meeting of shareholders

The extraordinary general meeting will take place on Tuesday 24 June
at 15.00 at the offices of Kilpatrick Stockton Advokatbyrå,
Hovslagargatan 5 B in Stockholm.

The Notice of the general meeting is enclosed

Other information about the meeting and proposals on the new share
issue and option scheme is shown in the Notice.

This document is a translation of the original press release  in
Swedish. In case of divergence, the
Swedish version shall have precedence.

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 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 feasible mineralisations is considered to be good.

Dannemora Mineral consists of the parent company Dannemora Mineral AB
and the wholly-owned subsidiaries Dannemora Magnetit AB, responsible
for the operations of the Dannemora iron ore mine, Dannemora
Prospektering AB, responsible for all exploration, and Dannemora
Förvaltnings AB, 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.

               Appendix to press release 10 June 2008

                          DANNEMORA MINERAL

The shareholders of Dannemora Mineral AB (publ) are herewith notified
of an extraordinary general meeting to be held on 24 June 2008 at
15.00 at the offices of Kilpatrick Stockton Advokatbyrå,
Hovslagargatan 5 B in Stockholm.

Right to participate in the general meeting

In  order  to  participate  in  the  meeting,  shareholders  must  be
registered in VPC's register of shareholders as at 17 June 2008,  and
must notify the company of  their intention to participate. This  can
be done by post to Dannemora Mineral AB; Box 627, 182 16 Danderyd, by
fax  0295-250   30,   by  phone   0295-24   44  00   or   by   e-mail
niklas.kihl@dannemoramineral.se. The notification must be received by
the company no later than 4 p.m. on Tuesday 17 June 2008.

Shareholders with nominee-registered shares must, well in advance  of
17 June  2008, temporarily  register the  shares in  their own  name,
through the nominee, in  order to be entitled  to participate in  the
meeting.

Proposed agenda
1. Opening of the meeting
2. Election of a person to chair the meeting
3. Drawing up and approval of voting list
4. Approval of agenda
5. Election of one or two persons to verify the minutes
6. Consideration of whether the meeting was duly convened
7. Proposal to give the Board a mandate to implement new issues
8. Proposal for a share option scheme including share issue and
warrants
9. Closing of the meeting

Proposed for adoption

P.7 - Proposal to give the Board a mandate to implement new issues

The number of shares in the company is 4,660,000, divided between
1,200,000 A shares (10 votes) and 3,460,000 B shares (one vote). The
Board proposes that the meeting authorise it, on one or more
occasions before the next annual general meeting, and with or without
shareholders preferential rights, to decide to implement a new share
issue (series A and/or series B). In the case of A shares, this shall
be confined to an issue with preferential rights to shareholders. The
aim of the mandate is to raise capital for the company's continuing
development of the Dannemora mine.

P.8 - Proposal for a share option scheme including share issue and
warrants

The extraordinary general meeting on 11 April 2008 adopted a share
option scheme consisting of 50,000 warrants and 50,000 share options
for the CEO. The Board proposes that the meeting agree to expand the
share option scheme by 35,000 warrants and 35,000 share options to
include other key management personnel in the company. The options
will be issued on the same terms and conditions as those adopted at
the EGM held on 11 April. To ensure the company's commitment in
accordance with the issued options, it is proposed that the meeting
decide on a total issue of 82,000 warrants.

Other

The Board's full proposals are available from the company. Any
shareholders wishing to obtain a copy may contact the company and
they will be sent electronically or by post.

Stockholm, June 2008

Dannemora Mineral AB (publ)

The Board of Directors