Nuuk, 27 July 2010 Announcement no. 19/2010 Page 1 of 2

NUNAMINERALS CONFIRMS GOLD-BEARING GRANITES IN SOUTH

Summary During June 2010 NunaMinerals conducted phase 1 of the company’s exploration for gold within the Vagar licence, which is located in the Gold Province. The exploration has resulted in the discovery of gold in several geological environments on and around the Peninsula in South Greenland, including in granites and in alteration systems of these granites.

During 2009 the company discovered detrital gold in two deltas in the Niaqornaarsuk Peninsula. These two deltas are 6 km apart and drain a 200 km 2 mountain range primarily made up of granites.

“The gold in these deltas must have a source in the upland and our exploration shows that some of the catchment area granites and their country rock remnants could be the source for the detrital gold. We have located alkali granites and granodiorites with gold contents up to 7.5 g/t and roof remnants within these granites with gold contents over 10 g/t. Our phase 2 exploration have now started and will focus on delineation of these targets with a view to drilling.” commented Ole Christiansen, CEO of NunaMinerals.

Exploration for gold in bedrock The geology of Niaqornaarsuk is dominated by granitic intrusive rocks that make up the southern part of the early Proterozoic Julianehaab batholith. These granites are I-type granites which, contrary to the majority of the Julianehaab Batholith, have a weak magnetic signature. A belt of magnetic lows can be traces regionally over 150 km from on the western coast of South Greenland to Kangerluluk on the eastern coast. These granites intrudes older gneisses and supracrustal rocks. The best historic gold-mineralised samples from the area are:

• One Ujarassiorit (the official Greenland Mineral Program) sample of paragneiss from an area immediately east of the settlement of Alluitsup Paa contained 109 g/t gold, 1.9% copper and 260 ppm tungsten. Samples collected during 2010 from neighbouring intrusive granitic veins contain up to 7.5 g/t gold.

• A granodiorite float from Tributary Valley on Niaqornaarsuk Peninsula contained 292 g/t gold, 91 g/t silver, 8.3% arsenic, 1% lead and 0.7% tin. Chip samples collected during 2010 from granodioritic rocks in this area contains up to 0.6 g/t gold over 5 meters.

• Partly scree-covered quartz vein-bearing amphibolitic rocks that roof the granitic system at Amphibolite Ridge near Tributary Valley contained 16.6 g/t gold over 12 meters. During 2010, new gold-bearing amphibolite outcrops have been located along strike which extend the strike length of the gold-mineralised structure to at least 500 meters. Samples collected during 2010 from adjacent granodiorites contains up to 1.2 g/t over 1 meter.

• An shearzone cutting amphibolite with pillow lava roofing the granitic system at Kangerluluk contained 118 g/t gold, 0.7% copper and 16 ppm tungsten. The area will be visited during the phase 2 exploration campaign with the aim of testing the granitic rocks for gold.

NunaMinerals has resumed exploration in the area. The results from the second phase of exploration are expected to be available in September 2010.

Exploration for detrital gold In 2009 NunaMinerals discovered detrital gold during the drilling of the Qoorormiut and Niaqornaarsuk deltas. Subsequently NunaMinerals conducted bulk sampling using a sand dredger on the edge of the two deltas. Gold grains (less than 1 mm flakes and grains) have been recorded in non-magnetic fractions of the concentrates. However, NunaMinerals estimates the gold grade to be less than 0.1 g/m 3 which is less than an estimated economic grade of 0.5 g/m 3.

NunaMinerals has therefore placed the placer exploration on hold.

FURTHER INFORMATION: Ole Christiansen, CEO, phone: +299 36 20 01, mobile: +299 55 18 57 Peter Brown, Chief Geologist, phone: +299 36 20 30, mobile:+299 53 42 68

ABOUT NUNAMINERALS NunaMinerals A/S is Greenland's leading company in the exploration of gold and other precious and base metals. Firmly rooted in Greenland, the company is well positioned to exploit the mineral potential of one of the world’s few remaining unexplored regions. The geology of Greenland has a number of similarities with that of long-established mining countries such as Canada, South Africa and Australia, which all have substantial mineral deposits of gold, platinum, nickel and copper, among other commodities.

The company has established partnerships with other mining and exploration companies, including the world’s second- largest mining company, Rio Tinto.

In June 2009, NunaMinerals established a partnership with Vancouver-based Nuukfjord Gold Ltd regarding the continued exploration and development of the Gold District, which includes two advanced exploration plays: the Storoe Gold Deposit and the Qussuk Gold Prospect. Setting up partnerships that may bring further technical and financial expertise to the development of the company’s exploration prospects is a key element of NunaMinerals’ business model.

NunaMinerals began operations in 1999 and is headquartered in Nuuk, Greenland.

The company is listed on NASDAQ OMX Copenhagen A/S under the symbol “NUNA”.

For more information, please visit our website: www.nunaminerals.com .

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