Q2 and H1 2016 Operating Results

Nord Gold SE operating results for the second quarter and 6 months ended 30 June 2016

London, United Kingdom, 27 July 2016

Nord Gold SE ("Nordgold" or the "Company", LSE: NORD), the internationally diversified low-cost gold producer, announces its operating results for the second quarter and six months ended 30 June 2016

· Lost time injury frequency rate (LTIFR) for Q2 2016 was 1.21, an improvement of 19% compared with Q1 2016 (1.49) and of 32% compared with Q2 2015 (1.79).

· Refined gold production in Q2 2016 increased by 2% quarter-on-quarter ("QoQ") to 213.1 thousand gold equivalent ounces ("koz").

· In Q2 2016, refined gold production increased QoQ at Taparko, Buryatzoloto, Neryungri and Aprelkovo mines and doré output grew at Bissa.

· Bouly mine construction in Burkina Faso continued on schedule with production expected to start in Q3 2016. Bouly is expected to produce on average 120 koz per year for 10 years at AISC of US$730/oz.

· Nordgold expects higher output in H2 2016 driven by: higher production at Berezitovy and its West African mines; the positive impact of the new HiTeCC technology at Suzdal; and the new Bouly mine launch scheduled for Q3 2016.

· Average realised gold price in Q2 2016 increased by 6% QoQ to US$1,265 per oz.

· Revenue in Q2 2016 increased by 8% QoQ to US$269.9 million compared with US$250.5 million in Q1 2016.

· Unaudited net debt at 30 June 2016 was approximately US$562 million compared with US$588.2 million as at 31 March 2016.

Message from the CEO

"We have increased gold production relative to the first quarter despite significant stripping volumes at our flagship Bissa and Berezitovy mines, and we expect that the production growth will continue in the second half of the year. We have also continued to invest in our development programme, in particular Bouly which we expect to launch in the third quarter - on time and under budget. Bouly, our third mine in Burkina Faso, will make a meaningful contribution to our full year production and further strengthens our position as the leading gold producer in the country. Our commitment to low costs, and our continued investment in our development projects means we are well placed to capitalise on a higher gold price environment."

Nikolai Zelenski, Chief Executive Officer, Nordgold

For the full report, please follow the link:

http://www.rns-pdf.londonstockexchange.com/rns/3507F_-2016-7-27.pdf

Enquiries

For further information on Nordgold please visit the Company's website - www.nordgold.com

About Nordgold

Nordgold (LSE: NORD) is an internationally diversified low-cost gold producer established in 2007 and publicly traded on the London Stock Exchange. Nordgold has a proven track record of operational excellence and benefits from a significant international development pipeline. The company is relentlessly focused on shareholder value, committed to running safe, efficient, profitable operations, which enable it to generate strong cash flows and in turn, continue to invest in its pipeline of new growth opportunities while generating returns for investors. In 2015, Nordgold produced 950 koz of gold with all-in sustaining costs of US$793 per ounce, maintaining its position at the lower end of the global cost curve.

Nordgold operates 9 mines (5 in Russia, 2 in Burkina Faso and one each in Guinea and Kazakhstan). It has 2 active development projects (Bouly in Burkina Faso and Gross in Russia), 4 advanced exploration projects and a diverse portfolio of early-stage exploration projects and licences in Burkina Faso, Russia, French Guiana and Canada. Nordgold employs over 8,000 people.

Cautionary Note Regarding Forward-Looking Statements

Certain information contained in this press release, including any information as to Nordgold's estimates, strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance and production may constitute "forward-looking information" within the meaning of applicable securities laws. All statements, other than statements of historical fact, constitute forward-looking information. Forward-looking information can often, but not always, be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "predicts", "potential", "continue" or "believes", or variations (including negative variations) of such words, or statements that certain actions, events or results "may", "could", "would", "should", "might", "potential to", or "will" be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. The purpose of forward-looking information is to provide the reader with information about management's expectations and plans. Readers are cautioned that forward-looking statements are not guarantees of future performance.

All forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.

Forward-looking information involves significant risks, assumptions, uncertainties and other factors that may cause actual future realities or anticipated events to differ materially from those expressed or implied in any forward-looking information and, accordingly, should not be read as guarantees of future performance or realities. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include the assumption that the business and economic conditions affecting Nordgold's operations will continue substantially in their current state, including, without limitation, with respect to industry conditions, general levels of economic activity, market prices for gold, competition for and scarcity of gold mine assets, achievement of anticipated mineral reserve and mineral resource tonnages or grades, ability to develop additional mineral reserves, acquisition of funding for capital expenditures, adequacy and availability of production, processing and product delivery infrastructure, electricity costs, continuity and availability of personnel and third party service providers, local and international laws and regulations, foreign currency exchange rates and interest rates, inflation, taxes, and that there will be no unplanned material changes to Nordgold's facilities, equipment, customer and employee relations and credit arrangements. Nordgold cautions that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within the control of Nordgold and there is no assurance that they will prove correct. The risks and other factors that may cause actual future realities or anticipated events to differ materially from those expressed or implied in any forward-looking information include, but are not limited to Nordgold's ability to execute its development and exploration programmes; the financial and operational performance of Nordgold; civil disturbance, armed conflict or security issues at the mineral projects of Nordgold; political factors; the capital requirements associated with operations; dependence on key personnel; compliance with environmental regulations; estimated production; and competition.

Actual performance or achievement could differ materially from that expressed in, or implied by, any forward-looking information in this press release and, accordingly, investors should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made, and Nordgold does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or realities after the date on which such statement is made or to reflect the occurrence of unanticipated events, except as required by applicable securities laws. All forward-looking information contained in this press release is qualified by such cautionary statements. New risk factors emerge from time to time, and it is not possible for management to predict all of such risk factors and to assess in advance the impact of each such factor on Nordgold's business or the extent to which any factor, or combination of factors, may cause actual realities to differ materially from those contained in any forward-looking information.