Green Minerals receives its first Government development grant

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 to the Company through Skattefunn of
NOK 1,9m. The risk-reduction support is provided towards further development of
the Company`s proprietary DeepMineX© (pending) software, key to the
decision-gates in deep sea exploration and mining.

“Norway is well positioned to take the lead globally in extracting the marine
minerals and rare earth elements needed for the green energy transition. A
strong cooperation between companies, authorities and investors are needed, and
we are pleased to see this grant from Forskningsrådet”, says Ståle Rodahl,
Executive Chairman of Green Minerals AS.

Contacts:
Ståle Rodahl
Executive Chairman
Ph: +47 4840 0593