Dannemora Mineral AB

Press Release May 27, 2008

Drill holes in the southern part of the Dannemora Iron Ore Field confirm new zinc mineralization
• Three additional drill holes intersect newly discovered zinc mineralization: - 4.55 m core section grading 2.97 % Zn (or 13.05 m grading 1.77 % Zn)
(drill hole 3014).
- 3.23 m core section grading 12.16 % Zn (or 18.40 m grading 2.88 % Zn)
(drill hole 3015).
- 4.92 m core section grading 1.48 % Zn (drill hole 3016).
- Interesting silver grades in drill holes 3015 and 3016.

Diamond drill holes drilled by Dannemora Prospektering AB intersect zinc mineralization in the southern part of the Dannemora Iron Ore Field

Dannemora Prospektering AB is pleased to announce the results of three drill holes at the “Södra fältet” zinc project adjacent to the Dannemora Iron Mine in south central Sweden.

The “Södra fältet” project is located within the Dannemora mining concession, fully owned by Dannemora Mineral AB.

During spring 2007, a 1500 m drilling program was carried out at the “Södra fältet” project. The area has been known for several small but high grade zinc mineralizations in association with iron ores. Drilling was further complemented with a borehole TEM (Time Domain Electro Magnetic) survey, preformed by Crone Geophysics Ltd. Interpretation of geophysical data indicated a strong conductor south of the surveyed drill holes.

Diamond drilling commenced in February 2008. A total of five drill holes (with 40 m spacing between holes along three profiles) comprising 834 m have been drilled to test the TEM conductor.

The results from the final three drill holes confirm results from the TEM conductor and the two first drill holes. The here presented drill holes intersect a partly massive sulphide mineralization consisting of mainly pyrrhotite and pyrite and also sphalerite.

Drill hole 3014 intersected a mineralized zone at a drill hole depth of approx 133 m. The mineralized core section has a length of 13.05 m grading 1.77 % zinc (including a 4.55 m sub-section grading 2.97 % zinc).

Drill hole 3015 intersected a semi-massive sulphide mineralization at a drill hole depth of approx 90 m. The mineralized core section has a length of 18.40 m grading 2.88 % zinc (including a 3.23 m sub-section grading 12.16 % zinc).

Drill hole 3016 intersected a sulphide mineralization at a drill hole depth of approx 99 m. The mineralized core section has a length of 4.92 m grading 1.48 % zinc.

Drill holes 3015 and 3016 also show interesting grades of silver in some of the assayed sections. The highest silver grade (106 grams per tonne) is found in drill hole 3015, in a one metre core section at a drill hole depth of approx 100 m.

Sections across the mineralized zone and a list of assay results from all five drill holes from Dannemora Prospektering AB´s drilling program at “Södra fältet” are listed in Appendix 1.

Dr Lennart Falk, CEO Dannemora Prospektering AB: “It is very encouraging to reach such good results in the very early stage of an exploration program. We have always regarded the zinc potential in the Dannemora iron ore field as very promising due to several old sulphide/zink workings in the area”.

Lars-Göran Ohlsson (board member and Senior Consultant for Dannemora Mineral AB ) and Lennart Falk (major shareholder of Dannemora Mineral AB ) are registered as Qualified Persons (QP’s) by SveMin (Swedish Association of Mines, Mineral and Metal Producers). Lars-Göran Ohlsson has reviewed and verified the content of this release.

Chemical analyses on zinc and silver were carried out using ICP-ME61 technique, performed by ALS Chemex Ltd´s laboratories in Piteå, Sweden, and Vancouver, Canada (Certificate Number: CERT-0014168).

For further information, please contact:

Lennart Falk (CEO, Dannemora Prospektering AB), Telephone: +46 (0)295 244412
Email: l.falk@telia.com.
Staffan Bennerdt: (CEO, Dannemora Mineral AB), Telephone: +46 (0)295 244422
Email: staffan.bennerdt@dannemoramineral.se

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