SeaBird Exploration Plc: Green Minerals AS signs LOI with OSI

23 March 2021, Limassol, Cyprus

Green Minerals AS, a subsidiary of SeaBird Exploration Plc, today announces a letter of intent (“LOI”) with a consortium led by Oil States Industries (UK) Ltd to collaborate on a FEED study for a turnkey Harsh Environment Deep Sea Mining System (HEDSMS) against a long term contract for exclusive use within Norwegian jurisdiction as defined by the Seabed Minerals Act of 2019.

The company anticipates first ore under it`s planned pilot in 2026. The recovered ore is expected to contain significant grades of minerals needed for the green shift, such as copper, cobalt, nickel and rare earth elements (REE)

Contacts:

Ståle Rodahl

Executive Chairman

Ph:

All statements in this press release other than statements of historical fact are forward-looking statements and are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include SeaBird`s reliance on a cyclical industry and the utilization of the company's vessels. Actual results may differ substantially from those expected or projected in the forward-looking statements.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.