Q3 and 9m 2015 Operating Results

Nord Gold N.V. operating results for the third quarter and nine months ended September 30, 2015

Amsterdam, Netherlands, October 21, 2015

Nord Gold N.V. ("Nordgold" or the "Company", LSE: NORD), the internationally diversified low-cost gold producer, announces its operating results for the third quarter and nine months ended September 30, 2015

· Gold output for the first 9 months of 2015 decreased by 5% year-on-year ("YoY") to 708.2 thousand ounces ("koz") mainly due to an anticipated reduction in gold production at Taparko, to facilitate the extension of Pit 35 for future ore supply, and the impact of delays in refining doré in Q3 2015 at our Burkina Faso mines due to political instability in the country. That doré was refined and sold in October 2015.

· In Q3 2015, gold output decreased to 200.7 koz due to several temporary factors, which only affected Q3 2015 results, including an unusually severe wet season in West Africa, plant maintenance work at several mines, and the effect of delays in refining doré mainly at Bissa, Taparko and Suzdal mines during the quarter.

· Despite this volatility in gold production, Nordgold maintained its low-cost efficient performance and expects consolidated all-in sustaining costs for the first 9 months of 2015 of approximately US$760 per ounce, in line with full year 2015 AISC guidance range of US$750/oz - US$800/oz.

· In Q3 2015, production increased quarter-on-quarter at Neryungri, Aprelkovo, at Buryatzoloto underground mine Zun-Holba and doré production grew at Suzdal.

· Stronger performance in Q4 2015 is expected for the company overall and in particular at Bissa, Taparko, Lefa and Suzdal mines.

· With the increased Q4 2015 output, we expect full year ("FY") gold production to be in the upper half of our FY2015 production guidance range of 925 - 985 koz.

· Lost time injury frequency rate (LTIFR) for Q3 2015 was 0.44, a 75% improvement compared with Q2 2015 (1.79) and of 72% compared with Q3 2014 (1.55).

· Bouly construction continued during the quarter on schedule and within budget despite political instability in Burkina Faso, with production expected to start in H2 2016.

· The main focus of our exploration programmes continued to be near-mine-drilling at key operating assets. In addition, in Q3 2015, field crews completed work on adjacent to Buryatzoloto mines' brownfield tenements Onot Kitoy and Zhanok, as well as on the South Uguy area, where the Tabornoe and Gross deposits are located. The results of this work are still being analysed, but already provide some indication of targets to be actively pursued in 2016.

· Exploration results are also pending from the drilling programme at Pistol Bay project, where preliminary data suggest that they may exceed expectations.

· In Q3 2015, the average realised gold price decreased to US$1,120 per oz, compared with US$1,281 per oz for Q3 2014 and US$1,200 per oz for Q2 2015. The average realised gold price in 9m 2015 decreased to US$1,182 per oz, compared with US$1,290 per oz in 9m 2014.

· Revenue in Q3 2015 was US$225.0 million due to lower gold price and sales volumes. Revenue in 9m 2015 was US$865.3 million.

· Unaudited net debt at September 30, 2015 was approximately US$573.0 million compared with US$546.0 million at the end of Q2 2015 reflecting US$15.4 million of paid dividends and US$9.6 million spent on share buyback in Q3 2015, as well as Bouly construction capex.

· During the period, Nordgold has further strengthened its operating team with the appointment of David Thomas as Engineering, Procurement, Construction Manager for the Gross project, located in southwestern Yakutia, Russia and expected, when fully operational, to produce approximately 230 koz of gold per year at full production for 17 years. David has executed many successful world-class projects including at Kupol and Kubaka Mines in Russia and True North and Fort Knox Mines in Alaska for Kinross.

Message from the CEO

"Despite challenging gold price environment and temporary decrease in refined gold production during the quarter, we have continued to successfully focus on costs, operational efficiencies and production improvements, giving us confidence to deliver on our targets and to firmly maintain our position at the lower end of the global cost curve.

We are well on track to pour first gold at our Bouly mine in H2 2016. With a successful ramping up of Bouly, we will add another high-quality low-cost mine to our portfolio and the Company will reach a Tier 1 status with a gold production of over 1 million ounces per year.

I am also pleased to welcome David Thomas to the operating team, who will strengthen Nordgold's ability to execute our world-class Gross project.

Looking ahead, we remain committed to keeping a very close control over costs, and to continuing to further drive operational improvements. I am confident in the outlook for the Company and our ability to generate consistent growth and sustainable returns for our shareholders."

Nikolai Zelenski, Chief Executive Officer, Nordgold

For the full report, please follow the link:http://www.rns-pdf.londonstockexchange.com/rns/9213C_-2015-10-21.pdf

Enquiries

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

Notes to Editors

About Nordgold

Nordgold (LSE: NORD) is an internationally diversified low-cost gold producer, established in 2007 and publicly traded on the London Stock Exchange. The Company has expanded rapidly through carefully targeted acquisitions and organic growth, achieving a rate of growth unmatched in the industry during that period. In 2014, Nordgold's gold production increased to 985 koz from 924 koz in 2013.

The Company operates 9 mines and has 2 development projects, 4 advanced exploration projects and a diverse portfolio of early-stage exploration projects and licenses in Burkina Faso, Guinea, Russia, Kazakhstan, French Guiana and Canada. Nordgold employs more than 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 programs; 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.