Green Minerals signs MoU with Soil Machine Dynamics Ltd (SMD)

05 Nov 2024 12:04 CET

5.11.2024 12:03:57 CET | Green Minerals AS | Non-regulatory press releases

Oslo, Norway - 5 November 2024 - Green Minerals (GEM) is pleased to announce the
signing of a Memorandum of Understanding (MoU) with Soil Machine Dynamics (SMD)
on October 31st, 2024. This MoU establishes a framework to jointly develop
equipment and methodologies for the sustainable exploration of Seafloor Massive
Sulphides (SMS) within Norway's jurisdiction, which was formally opened for
marine minerals activities on January 9th, 2024.

A key focus of the MoU is the design and construction of a Core Sampling Unit
(CSU) essential for validating and assessing potential resources. GEM and SMD
will also collaborate to optimize sustainable practices in future exploration
campaigns, integrating simultaneous operations such as geophysics and
environmental surveying. The targeted completion for the CSU design and
production is set for initial commercial deployment by Q2 2026.

The partnership addresses potential future limitations around the availability
and capability of CSUs. SMD holds a prominent role in the consortium responsible
for GEM's Harsh Environment Deep Sea Mining (HEDSM) system concept study and is
a preferred partner for GEM.

"We are delighted to deepen our collaboration with such an experienced, skilled,
and innovative partner like SMD," says Ståle Monstad, CEO of Green Minerals.

For over 50 years, SMD has partnered with pioneers in industry and science to
take technology and engineering to places that people have never been. SMD
specialises in the design, manufacture, and deployment of remotely operated and
autonomous power and control solutions. SMD helps partners around the globe
overcome the most challenging subsea environments with maximum safety,
efficiency, and sensitivity.

Paul Davison, Deputy CEO of SMD said "It is great to find a collaboration
partner who is so well aligned on our common goals for sustainability and
minimal impact."

DISCLOSURE REGULATION

This information is subject to the disclosure requirements in article 19 of the
Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading
Act.

CONTACTS

* Ståle Monstad, CEO, Green Minerals AS, +47 915 54 644,
staale.monstad@greenminerals.no

ABOUT GREEN MINERALS AS

Green Minerals AS mission is to deliver minerals for the green energy transition
in a responsible and sustainable manner through deep sea mining of key minerals
and rare earth elements (REE). This significantly reduces the social and
environmental costs found in terrestrial mining while at the same time solving a
strategic need for EU and the USA. For more, visit www.greenminerals.no -
http://www.greenminerals.no

ATTACHMENTS

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https://kommunikasjon.ntb.no/ir-files/17848272/18311548/5205/Download%20announce
ment%20as%20PDF.pdf

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