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Greenland Ruby Announces the Official Opening of its Ruby and Pink Sapphire Mining Operation at Aappalutoq, Greenland

Nuuk, Greenland — Thursday, May 11, 2017 — Greenland Ruby A/S announced today that it has started production at its ruby mine site in Aappaluttoq, in the southwest region of Greenland. The operation, which is known to be the most advanced colored gemstone mine in the Arctic, will shortly be able to supply industry stakeholders with a consistent, responsible, and transparent source of ruby and pink sapphire.

During the official opening at the site, Gunnar Moe, president and CEO of LNS Greenland, said: “We are extremely proud to be the first commercial gemstone mining operation in Greenland, and look forward to entering the marketplace with ruby material that can match that from traditional sources such as Burma, Thailand, or recent findings in Mozambique.” He also welcomed official guests who included the Premier of Greenland Kim Kielsen, and the Minister of Raw Minerals Mute Bourup Egede.

The mine is located at Aappaluttoq, meaning ‘red’ in Greenlandic, and refers to the ruby bearing rock known by locals for centuries, but only recently officially "discovered." The deposit is primary type, meaning the rubies are extracted from hard rock (mainly mica and amphibole). These rubies are known to be the oldest in the world. The deposit is fairly easy to access, as it is located on gentle hills surrounded by majestic fjords. A small port was built nearby to bring the heavy equipment necessary to work under extreme arctic conditions. A heliport provides shuttle service for employees and provisions to the site.

Mine Overview

The Aappaluttoq Ruby Mine is Greenland’s first gem corundum mine, and is located on tide water approximately 250km south of Greenland's capital, Nuuk. The location was geologically defined between 2002 and 2012 and construction of the mine was initiated in 2014. The mine is operated by LNS Greenland A/S, a highly experienced Greenlandic based mining contractor.

About Greenland Ruby

Greenland Ruby, A/S is a sister company of LNS Greenland A/S, the mine operator. The company was established in October 2016 to take over the exploitation license and to act as a sales and marketing portal for promotion and sales of the Greenlandic rubies and pink sapphires. Sales and marketing operations will be out of New York, USA.

About LNS Greenland

LNS Greenland A/S is the mine operator at the Aappaluttoq Ruby mine. The company´s strategy is to be the premier partner on minerals projects and major civil works in Greenland. Its parent company, the LNS Group, has considerable international competence and a long-term vision for working in Greenland. LNS Greenland was formerly known as Greenland Mining Services A/S and changed its name to LNS Greenland A/S in 2012. The company was founded in 1990 and is headquartered in Nuuk, Greenland.