Bankruptcy Update

NunaMinerals A/S - Bankruptcy Update

Nuuk, 21, September 2016

Announcement No. 23/2016

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NunaMinerals A/S ("NUNA") ("NunaMinerals" or the "Company") announces an appeal was lodged on behalf of the Company, within the prescribed period, in the High Court in Greenland in relation to the bankruptcy order granted against the Company on 1st July 2016. The Court gave notice that Ole Christiansen, the former CEO, must lodge any witness statement in opposition to the Appeal by close of business on 16th September 2016 and that, thereafter, the Court will give a ruling on the appeal. It is expected that a ruling will be made shortly.

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For additional information, please contact: Chris Williams, Chairman, e-mail [email protected] or Ross Iannello, CEO, email [email protected]

ABOUT NUNAMINERALS A/S: The company is listed at NASDAQ OMX Copenhagen A/S under the symbol "NUNA" (Copenhagen: NUNA.CO). For more information, please visit our website: www.nunaminerals.com.