Bankruptcy Update

NunaMinerals A/S - Bankruptcy Update

Nuuk, 21, September 2016

Announcement No. 23/2016

Page 1 of 1

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.

Ends

For additional information, please contact: Chris Williams, Chairman, e-mail cw@nunaglobal.com or Ross Iannello, CEO, email ri@nunaglobal.com

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.