The Supervisory Board of NunaMinerals A/S today considered and approved the
interim report for the three months ended 31 March 2009.
NunaMinerals incurred a loss before tax for the period of DKK 1.2m after
capitalisation of exploration costs, which was in line with expectations.
In the first quarter of 2009, NunaMinerals invested DKK 3.7m in exploration,
and the company follows the plans most recently presented in the Annual Report
2008.
Cash resources remain strong, as cash holdings amounted to DKK 62.3m.
Efforts are ongoing to market the company's core projects as well as its other
prospects, and the company continues to expect to sign a partnership agreement
in respect of the Storø project in 2009.
In the Amikoq platinum prospect (in partnership with Implats) it has been
decided to test both the Octopus Reef and the rhodium enriched zone by diamond
drilling in 2009.
In the Ymer Ø tungsten-antimony-gold project, geophysical testing indicates a
potential for several tungsten mineralisations, and the gold potential along a
10-15 km lineament has been confirmed further.
In 2009, NunaMinerals has applied for a 48 km2 extension of the Maniitsoq
license prospective for platinum group metals,
For 2009, management expects an operating loss of DKK 36.5m before financial
items and capitalisation of exploration costs and an operating loss of DKK 8.5m
before financial items but after capitalisation of exploration costs.
Announcement is given in attached file.
