Green Minerals — Capital/Financing Update 2021

Apr 27, 2021

Green Minerals receives Government development grant from Forskningsrådet

Green Minerals receives Government development grant from Forskningsrådet

Green Minerals AS (“The Company”) today announces that Forskningsrådet, one of the Norwegian Government’s key vehicles to help finance innovation- and research projects, has granted development support of NOK 3,6m to the Company through Skattefunn. The risk-reduction support is provided towards development of the Company’s exploration methodology incl prospectivity modelling and technology mapping, selection and development.

“We are pleased to receive this grant from Forskningsrådet, and see a strong cooperation between companies, academia, investors and authorities as pivotal in unlocking the potential this industry can have for Norway” says Ståle Rodahl, Executive Chairman of Green Minerals AS.

ABOUT GREEN MINERALS:

Green Minerals AS is a pioneer in marine minerals on the Norwegian Continental Shelf. Our mission is to deliver minerals for the green energy transition in a responsible and sustainable manner, thereby lowering the environmental impact and reducing the social costs from onshore mining. The Company targets a NOK 700bn resource potential on the NCS and expects pilot production to commence in 2026. For more, visit www.greenminerals.no

Contacts:

Ståle Rodahl

Executive Chairman

Ph: +47 4840 0593