The Supervisory Board of NunaMinerals today approved the Annual Report for 2008. Highlights of the year are: • NunaMinerals incurred a loss for the year of DKK 1.9m after capitalisation of exploration costs, which was in line with expectations and is considered satisfactory. • During the year, NunaMinerals and its business partners invested a total of DKK 32.0m in what is the company's most comprehensive exploration programme to date. Impala Platinum Holding Ltd's (Implats) share of the overall investment was DKK 3.3m. • The company has strong cash resources with cash and cash equivalents of DKK 69.1m. • The company has seen positive progression of its core projects: -> Metallurgical testing shows a high degree of gold recovery in the Storø gold project. -> In the Qussuk gold project, drillings made during the year showed continuous mineralisations in two zones. -> In the Vagar placer gold project, georadar surveying showed the presence of substantial volumes of sedimentary deposits under 3-10 meters of moraine. -> In the Ymer Ø tungsten-antimony-gold project, geophysical testing indicates a potential for several tungsten mineralisations, and further confirms the gold potential along a 10-15 km lineament. • The company's partnerships also experienced positive progression, as a platinum-palladium layer, the Octopus Reef, in the western flank of the intrusion and a rhodium-enriched zone at the southern edge of the intrusion have been localised in the Amikoq platinum project being developed in partnership with Implats. • The company has been granted two new exclusive licenses and expansion of three existing exclusive licenses. The company has also applied for a new exclusive license in northern Greenland (Thule). • In a share issue made in 2008, the company increased its share capital from a nominal value of DKK 80.9m to a nominal value of DKK 106.8m. NunaMinerals received net proceeds of DKK 95.2m from the share issue. At the same time, the company migrated its listing from Dansk Autoriseret Markedsplads to NASDAQ OMX Copenhagen. • A three-year warrant programme for the Executive Board and other key employees was implemented in 2008. In December 2008, a total of 4,294 warrants were issued at an exercise price of DKK 437. • In light of the financial crisis and developments in metals prices, NunaMinerals has adjusted its strategy so that, going forward, exploration activities will centre on the company's core projects involving gold and tungsten. The partnership strategy has been amended accordingly, so that all of the company's projects will be open for business partnerships. With the strategic adjustments, the company believes that it currently has sufficient cash resources to take it well into 2011. • For 2009, management expects an operating loss of DKK 36.5m before financials and capitalisation of exploration costs and an operating loss of DKK 8.5m before financials and after capitalisation of exploration costs. Announcement is given in attached file. Investor meetings is held Wednesday 1 April kl. 17.00 at Nordatlantens Brygge, Strandgade 91, 1401 København K Thursday 2 April kl. 19.00 at Radisson Scandinavia Hotel, Margrethepladsen 1, 8000 Århus C Registration for the meetings is through NunaMinerals homepage www.nunaminerals.com