Trading April 27th

TSX: NUU

Landmark Agreement and Mining Law Revision Opens �Off Limits� Extension to World�s Most Prolific Mining District�

The Times says it is �the greatest opportunity of all.�

Resource Investor calls it the �Last frontier.�

Menas Associates, an international natural resources consulting firm, described it as a �Treasure Trove.�

Geologists and mining entrepreneurs have been chasing after this area�s vast mineral wealth for years.

Regrettably, it was �off limits� for more than two decades.

That all changed and a new gold rush has begun.

And thanks to a landmark international agreement, a small company named Nuukfjord Gold (TSX:NUU) is in position to take advantage of it all. Backed by some of the most successful mining entrepreneurs in the world, the company has quietly staked a very large claim in Greenland and it�s about to aggressively develop it.

Greenland Natural Resource Boom: Round II

Now we realize, when you think of Greenland, you think of an uninhabited, barren, frozen dessert. Certainly not gold.

Most people do. It is 80% covered by ice. Only about 57,000 people live there. The Sahara Desert is eight times more densely populated. And its economy almost completely revolves around fishing.

But that�s all about to change. Recently Greenland took its next step towards independence from Denmark. And in the process it took over full control of its own, vast natural resource wealth.

You see, 20% of the country, an area the size of Germany, is not covered by ice and it contains a lot of minerals. And the newly empowered local government is streamlining the process to get natural resource companies to move into the country.

On January 1, 2010 a new mining law went into effect in Greenland that opens up Greenland�s massive mineral reserves to exploration companies around the world.

Investor�s Chronicle reports:

Greenland wants to exploit its mineral wealth to diversify its fishing-reliant economy and ultimately support independence�from Denmark.

The passing of a mining law and transfer of mineral rights from 1 January 2010 enables Greenlands Bureau of Minerals and Petroleum to issue licenses and permits after approval from only the Greenland government. Applications had previously needed approval from a joint committee comprising members from both Greenland and Denmark.

Greenland is now solely in charge of its natural resources. The permitting process has been streamlined. The red-tape is getting slashed. And Greenland is actively promoting mining companies to come and explore and exploit it all.

On the oil and gas side, the world�s top energy companies have lined up at Greenland�s doorstep. ExxonMobil, Chevron, Husky Energy, Denmarks DONG Energy, and Malaysias Petronas have all secured exploration rights off the coast of Greenland.

On the minerals and mining side, a new rush has been kicked off to tap into Greenland�s vast and underexplored.

That�s where Nuukfjord Gold comes in.

Nuukfjord Gold is one of the newest gold companies on the market. It has secured exclusive rights to a huge, high-grade gold exploration and development project in Greenland. And it is backed by some of the most successful mining entrepreneurs in the world.

It has all the makings of a big success. But it gets better. The company�s recent IPO has put in great position to take advantage on what history will look back on as one of the great gold exploration opportunities.

Here�s why.

Prolific Mining District�Extended

Nuukfjord�s projects are located near the southern tip of Greenland. They�re less than couple hour�s drive from the Greenland�s capital, the city of Nuuk.

The climate is relatively mild. It�s cold, but it never gets too cold. The average temperature ranges between 14 degrees F and 38 degrees F.

That means Nuukfjord will be able to exploit its numerous mineral claims which, to say the least, have a lot of potential. That�s where the real excitement will come from. Just take a look at Nuukfjord�s the gold properties: Storo Gold Deposit, Storo North, and Qussuk. They�re littered with high-grade gold zones. Which is no surprise considering the geology.

Nuukfjord�s properties are part of an Archean greenstone belt. It�s the exact same geology located in the Canada�s prolific Abitibi greenstone belt. Abitibi hosts some the world�s largest gold mines. For example, the Timmins-Porcupine mine has produced more than 60 million ounces of gold.

The Austrailian Kalgoorie mining district is also the same Archean greenstone as Nuukfjord�s. And Kalgoorie has produced more than 50 million ounces of gold too.

Basically, Archean greenstone belts host BIG gold deposits. And if early exploration results are any indicator, Greenland�s Archean greenstone belt will be right up there with them.

To get a good idea of the big size potential, it�s best to break down Nuukfjord�s exploration regions into three parts: the Storo Gold Deposit, Storo North, and Qussuk.

Storo Gold Deposit

The Storo Gold Deposit is Nuukfjord�s flagship property. It�s located 45 km north of Nuuk and was initially discovered in 1994. After its discovery it was essentially shelved for a decade.

Beginning in 2003 Nuna Minerals (Greenland�s national mining company) began an aggressive exploration program. Nuna completed more than 12,000 meters of drilling and took more than 3,500 surface samples.

The millions of dollars in exploration efforts discovered two zones, the Main and BD Zones. Both of which contained near-surface, high-grade gold:

The high-grade gold discoveries are just part of the rapidly unfolding Storo story. The other part is its big potential. The deposit�s mineralized plane is more than 800 m long and has proven down-dip potential greater than 1000 m. That�s 800,000 cubic meters of potential gold-containing ore.

The Main and BD Zones are just two zones of many that have been discovered on the Storo property. A recent discovery � called New Main Zone � has shown even better results. Surface sampling has returned gold discoveries in excess of 50 g/t gold.

Better yet, the metallurgy of the project is phenomenal. Since it�s the Archean greenstone that has been mined for centuries and hosts the world�s largest gold deposits, it was no surprise to see Storo�s rocks produced a recovery rate of more than 90% during testing.

Simply put, Storo is long, deep, high-grade, and geologically friendly to mining.

It has it all�but there�s even more.

Storo North

About four km away from the Storo Gold Deposit is Storo North. It�s the same Archean greenstone which hosts the world�s largest gold mines and shows just as much potential as Storo. Storo North geologically and structurally mirrors the Storo Deposit.

Storo North, however, has been explored much less extensively. It has had only six holes drilled for a total of 1,700 meters. Still though, that relative underexploration has allowed geologists to determine the gold zone extends 1.3 km long. That�s even bigger than the 800 m length of the Storo deposit.

The gold grades have been just as high too. Surface samples have produced gold grades as high as 46 g/t.

Qussuk

The final property Nuukfjord has claimed exclusive rights to is Qussuk. Located about 40 km north of Storo North, Qussuk covers 75 square km of prime gold exploration real estate.

To date more than 3,000 m of drilling have been completed and 1,300 surface samples of been taken. The limited exploration efforts have already paid big dividends though.

Four gold-bearing zones have been identified:

Alma: Grab samples up to 4.5 g/t Au

Blue Fox: 21g/t gold over 1.5m chip

Swan North: 200,000 square meter alteration zone containing drill intersection of 1.2 g/t gold over 23 m

Plateau Zone: Drill intersection of 12.6 g/t gold over 1.1 m and grab samples up to 36 g/t Au

Clearly, there�s a lot of potential in Greenland and Nuukfjord has managed to stake a giant part of it all. But a bit more important than the size and scope of the development potential is that the �Big Money� investors are starting to realize the opportunity. And they�re cutting big checks to go after it.

$17 Million Exploration Program Starts Today

The Nuukfjord development story is still in the very early stages. The company�s April, 2010 IPO has put the company in great financial position. Nuukfjord now has more than $10 million cash.

That�s great for two reasons. First, Nuukfjord is not going to need to raise money until 2012. Second, it has plenty of cash to realize its full potential as quickly as possible.

For example, Nuukfjord plans to invest more money in exploration this year than most junior companies spend in two or three. After all, the company has the advantage of having 12,000 meters of drilling and exploration data already completed on the properties. Now Nuukfjord can move it to the next level.

The exploration program will be laid out in two strategic stages. Over the first year Nuukfjord has allotted $3.5 million total for exploration.

About $2.7 million of that is set aside to expand and further define the Main and BD Zones on the Storo Gold Deposit. The company plans to drill more 4,000 meters across more than 20 holes.

An additional $700,000 of that is set aside to do additional surface analysis of Storo North and Qussuk properties to identify drill targets.

The final $100,000 has been carved out for preliminary engineering, economic, and environmental studies.

Basically, there�s a lot to do and Nuukfjord has the funding to do it. And it�s doing it all now.

Underexplored and Undervalued

Earlier on we mentioned that although some big money investors have seen the value here, but that most folks still would think twice before putting money into Greenland.

Their loss is your gain. For what Nuukfjord has already proven, its size, and everything else going for it, it�s still dirt cheap.

After its IPO which pushed its bank account up to $10 million, Nuukfjord has 39.36 million shares outstanding. The company also has 3.85 million options issued to management, directors, and consultants with an exercise price of 50 cents per share (no cheap �free rides� here � there�s a lot of skin in the game).

At a price of 50 cents per share, that gives Nuukfjord a valuation of less than $20 million (less than $22 million fully-diluted).

Remember, the company has nearly $10 million cash. So the market capitalization may be $20 million, but the enterprise value is a mere $10 million. That�s extremely cheap for a well-funded company with this kind of potential.

But here�s the thing. Nuukfjord doesn�t own 100% of the gold properties. The company has actually partnered with the Greenland government to develop the project. Greenland, through Nuna Minerals, will own 35% the project when Nuukfjord makes all the exploration goals and Nuukfjord will earn a 65% interest in the project.

This is a great set-up where all the interests are aligned. The structure gives Nuukfjord priority when dealing with the Greenland government. It will go a long way to ensure everything runs smoothly.

A deal like this where the national government has a stake in the company has worked out really well in the past too. For example, Nevsun Resources (TSX:NSU) has a deal where the Eritrean government will own 40% of it. And Nevsun has a market value of over $500 million despite operating in what is perceived as a politically-risky country.

Nuukfjord seems like it has it all and at a heck of a price, right?

It has the big properties, sizeable deposits, and won�t need to dilute shareholders for a long, long time.

But it actually gets even better after looking at who is behind the rapidly developing gold company.

Serially Successful Mining Entrepreneurs Teaming Up

Impressive, experienced, serially-successful, are all good terms to describe Nuukfjord�s management team. From pulling together one of the largest Canadian gold discoveries in the past few years (which was recently bought out by Kinross Gold for $120 million in less than two years) to developing mining projects backed multi-billion dollar international economic development groups � they�re all on board with Nuukfjord.

Have a look:

Michael Williams, Director - is currently the President and CEO of Full Metal Minerals and a director and advisor to several mining exploration companies, including Underworld Resources .

He was previously Vice President of Atna Resources, a TSX listed company, where he developed and implemented all of the company�s communication and investor relations programs from 1996 through to 2004.

Prior to joining Atna Resources, Mr. Williams provided public relations counsel to various sectors including: mining, manufacturing, financial services, hospitality, tourism, and government.

Robert Mcleod, P. Geo & Director - is currently the Vice-President of Exploration for Full Metal Minerals and a director of Underworld Resources. He is a highly technical, creative and innovative exploration geologist.

He has over twelve years experience in mining and mineral exploration, working for a variety of major and junior mining companies. His exploration strategy is a multi-tiered approach, including: conceptual geologic ideas with prospecting, early-stage project advancement focusing on discovery, and advancing mid-stage projects towards feasibility.

As an exploration geologist and project manager at Miramar�s Hope Bay project, he was part of the team that discovered the Naartok deposit, as well as expanding and delineating the Boston and Doris deposits. He was previously Vice-President of Exploration for Atna Resources and is currently a director and advisor to several junior exploration companies.

Aaron Keay, President and CEO - was a partner at Inform Capital Partners where he was responsible for raising over $60m in equity and debt over the last three years in both the public and private sectors. He was responsible for the development and structuring of most of these financings or instrumental in putting together the syndicates for the companies.

Mr. Keay has strong connections into both retail and institutional capital in Europe and North America, where he has built communication programs, led financing trips, and organized syndication road shows with the following companies: Universal Power Corp, Royalty Exploration Corp, Allon Therapetics, Minaurum Gold, Terrace Resources.

Bryan Slusarchuk, Director - has significant experience financing and operating companies involved in mineral exploration and development. Mr. Slusarchuk, prior to establishing a track record as a successful private and public company CEO, was a Senior Investment Advisor at a premier Canadian investment dealer.

Mr. Slusarchuk has a substantial European and North American financial network and has worked within it to finance and structure multiple North American and European ventures. In 2008, Mr. Slusarchuk negotiated and arranged a debt facility for Tirex Resources, a company he is the CEO of, with the European Bank for Reconstruction and Development (EBRD) , representing that bank�s first investment in mineral exploration anywhere in the world.

Per Wimmer, Director - founder and CEO of Wimmer Financial LLP, a London-based investment bank established in October 2007 which specializes in global capital raising, corporate finance and listed equity trading for institutional investors.

Prior to founding his own investment bank, Mr. Wimmer was advising on equities at MF Global/Man Securities. Prior to that, Mr. Wimmer worked at Collins Stewart in a similar capacity. From 1998 to 2002 he worked in New York and London for Goldman Sachs & Co. and became Executive Director for Institutional Sales of European Equity products advising on investments to Scandinavian-based financial institutions.

Michael Moore, VP of Exploration - has worked in mineral exploration and development for over 20 years and has been actively involved in projects in North America, South America and Africa.

Mr. Moore has experience in precious, base and industrial metal exploration and has contacts in the mining industry throughout the world. He is a professional geologist registered with APEGBC and a graduate of Carleton University in Ottawa, Canada. Mr. Moore is currently a director/officer of several public mining exploration companies listed on the TSX-V.

The Bottom Line

It has big properties.

The geology has historically proven to host massive amounts of gold.

It�s well-funded and has laid out an aggressive, yet responsible drilling and exploration plan to realize its full potential as soon as possible.

It�s high grade. The gold that has already been discovered is high grade. Exploration targets have shown even higher grades.

Years of exploration work have already solid foundation for rapid expansion and development.

The company is newly listed. The story is still unfolding. And Greenland mineral assets aren�t fetching big premium valuations (yet!).

From a political risk perspective, Greenland is a partner, has a vested interest in Nuukfjord�s success (as a part owner and as a showpiece to attract more exploration firms), and its bending over backwards and eliminating bureaucratic red tape to ensure the company can develop the assets as fast as possible.

And the team pulling it together has a consistent track record of success.

At this point, it wouldn�t surprise the Bottom Line Report readers that it�s only a matter of time until The Times is proven right and Greenland�s vast, untapped mineral wealth turns out to be �the greatest opportunity of all.�

You can follow Nuukfjord Golds rapid progress at

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