Green Minerals AS: Second-Quarter Results 2022

Asker – August 31, 2022 – Green Minerals AS (“the Company”) announced today
results for the second quarter of 2022 which ended 30 June 2022.

* Q2 revenue of nil (nil prior year quarter)
* Q2 EBITDA of NOK -2.5 million (NOK -2.1 million prior year quarter)
* Completed our first research cruise
* Received all released data from NPD. Started integration into our own workflow
and exploration framework.
* Finalizing rock characterization study on Seafloor Massive Sulphides material
from the Atlantic.
* Signed a Memorandum of Understanding with a strong industry consortium
establishing collaboration for the development of a Harsh Environment Deep Sea
Mining System (HEDSMS) against a long-term contract for exclusive use in
Norwegian waters
* Oil States Industries (UK) becomes a shareholder in Green Minerals
* Norwegian authorities opening process still on track and time
* Longer term market outlook for key battery metals remains robust

Please find the full report and a presentation attached.

Date: 31 August 2022
Time: 10:00 CEST

A live audiocast held by Green Energy Group (Seabird Exploration Plc), the
parent company of Green Minerals AS, will take place today at 10:00 CEST. This
presentation will include a quarterly update on Green Minerals AS. There will be
a Q&A session at the end of the presentation, and written questions can be
submitted through the audiocast solution. To join the live audiocast, follow the
link below. Please note that a recorded version will be available shortly after
the presentation by using the same link.

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
1000bn resource potential on the NCS and expects pilot production to commence in
2026. For more, visit

For further queries contact:
CEO, Ståle Monstad at +47 915 54 644

  570182_Q2 2022 Report Green Minerals.pdf
  570182_2022 Q2 Presentation Green Minerals AS.pdf