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 11,048m to the Company through
Skattefunn. The risk-reduction support is provided towards development of the
Company’s offshore mineral production methodology and the development of a
mineral processing flowsheet.
“We are pleased to receive this grant from Forskningsrådet which will help us
maximize the value generated from marine minerals. There has been much focus on
marine minerals exploration, yet we believe it takes a holistic approach for the
marine minerals industry to succeed. The development of sound production
methodologies is pivotal for our activities” says Ståle Rodahl, Executive
Chairman of Green Minerals AS.

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