SeaBird Exploration Plc: Update on the private placement in Green Minerals AS

27 November 2020, Limassol, Cyprus

In reference to the announcement published on 24 November 2020 regarding the commencement of the application period in a private placement of new shares in Green Minerals AS; Seabird Exploration and Green Minerals have been informed by Pensum Asset Management (the Placing Manager) that the deal is covered at the top of the indicated price range. The application period closes at 16:00 CET on 27 November 2020.

SeaBird is a global provider of high quality marine seismic operations within the source vessel and 2D market, as well as in the shallow water 3D market The Company has a strong focus on Quality, Health, Safety and Environment, combined with cost efficient services to its customers.

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.

For further queries contact:

Ståle Rodahl

Executive Chairman

Mob: +47 4840 0593