March 18, 2016

Environmental Policy

Iceland Resources is committed to a clean, safe and healthy workplace and environment. All aspects of our business are managed in a safe and environmentally responsible manner in accordance with the principles set forth in this policy. We believe these actions benefit our customers, shareholders, employees and the public, both now and for the future, while improving the quality of the environment. This policy reaffirms our commitment to environmental stewardship and protecting the well being of our customers, employees, environment and the public.

Management Commitment
All levels of Iceland Resources management are committed to, and accountable for, implementing, maintaining, measuring, and improving the environmental, health and safety programs of the Company. Self assessments of our performance in these areas will be routinely conducted. We will measure performance and hold all employees accountable through performance enhancement processes.

Health & Safety
Safety is the overriding value of all aspects of our business. We will continually provide a safe and healthy environment for our employees, our customers and the community. We demand safe work behavior, practices, design and systems.

Culture
We will foster a culture that encourages safe, healthy and environmentally-responsible behavior by clearly defining the responsibilities of all employees. We will encourage proactive employee involvement in these efforts. Incentives for extraordinary performance will be provided

Community
We support and participate in the design, development and establishment of sound public policy and educational initiatives that protect human health and the environment. We will work with governments and others in creating responsible laws, regulations and standards to safeguard the community, workplace and environment. We will share with the communities our performance in the environmental, health and safety areas.

Pollution Prevention
Pollution prevention is an operating objective. We strive to prevent or reduce the generation of waste at the source. Our impact on the environment is minimized through good engineering practices. Where waste cannot be eliminated, it will be managed in compliance with all applicable requirements.

Compliance
Compliance with all applicable environmental, health and safety laws and regulations is required. All of our employees, from the officer level to the front line, are responsible and accountable for compliance and have an obligation to bring issues and concerns forward for resolution.

Stewardship of Natural Resources
We will responsibly use natural resources, such as air, water, soils and forests, and we will help to conserve these natural resources through efficient use and careful planning. We will pursue an energy resource plan that emphasizes environmental protection, energy conservation and efficiency. We will responsibly address conditions that endanger health, safety or the environment.