Strategy Update, Acquisition and AGM Results - Seite 2

The agreement is expected to close on or before 23^rd October 2023.

About the Suni iron project

The Suni Iron Property is in the Onaman Iron Range of Ontario, Canada approximately 160km north of Lake Superior and 50km east of Lake Nipigon. The Property consists of an area of approximately 11.5km or 1,155 hectares, comprised of 6 block claims totalling 71 mining claim units.

The Onaman Iron Ranges have had a long history of exploration and drilling starting in the early 1900s. They were first located and examined in 1904, when survey crews of the National Transcontinental Railway started the survey for a railway line. In 1906 and 1907, iron prospects were discovered and staked. Discovery of the iron prospects led to a rush by prospectors into the area. In 1951, following completion of an airborne magnetometer survey by Kennco Limited, several companies acquired ground and obtained patents or leases covering most of the known Onaman Iron Range deposits of the northern and southern range by staking and/or by option. Between 1958 and 1961 Can-Fer Mines Limited (Can-Fer) drilled a total of 47 diamond drillholes on the Suni Iron property.

The Company is in possession of historic data and valuation report dated 26^th October 2022 by Evans & Evans, Inc., and a NI 43-101 technical report by Tetra Tech dated March 2011 that has been executed in accordance with the Canadian Institute of Mines (CIM) guidelines provided in NI 43-101, standards of Disclosure for Mineral Projects, dated December 23, 2005. The Company expects to issue a separate technical detailed press release in due course.

Vilhjalmur Thor Vilhjalmsson, the CEO and Chairman of Greenbank , had this to say: "With our updated approach, we are optimistic about both our existing investments and the avenues for future growth. It's crucial for us to maintain greater oversight of our investment portfolio. In line with this, we'll continually assess our current holdings while also exploring new opportunities. I've recently engaged in dialogues with the leadership of our investee companies, and I am enthusiastic about our upcoming initiatives and the health of our investments."

Results of the company's Annual General Meeting.

The company's AGM took place Wednesday 11^th October 2023. All resolutions were duly passed at the meeting. Shareholder Hector Early put forward to the meeting four new nomination to the board of directors.

The voting went as follows.

Nominated director