CHARLOTTE, N.C., Sept. 11, 2026 (GLOBE NEWSWIRE) -- via IBN – Greenland Mines Ltd (Nasdaq: GRML) ("Greenland Mines" or the "Company") today provided an update on the progress of its 2026 field programs at the Skaergaard palladium-platinum-gold project in East Greenland and the Sarfartoq rare earth element project in West Greenland.


Bo Møller Stensgaard, President of Greenland Mines, commented:
"Our teams have delivered an outstanding field season at both projects. At Skaergaard, we set out to collect representative bulk material from three key horizons and ended up completing seven bulk-sample sites, giving GTK Mintec and our other metallurgical consultants substantially more material and more variability data than originally planned.

“At Sarfartoq, only weeks after closing the acquisition and announcing an Initial Assessment that demonstrated a high-case pre-tax net present value of approximately US$2.05 billion and a pre-tax internal rate of return of 118.6%, we already have boots on the ground running both structural mapping and the second year of environmental baseline studies.

“This is exactly the kind of execution and pace we committed to our shareholders, and it positions both projects well ahead of their next technical milestones."

Skaergaard: Bulk-Sampling Program Completed, Exceeding Plan

Greenland Mines has completed its 2026 bulk-sample blasting program at Skaergaard, collecting a total of 104.8 tons of mineralized and host material from seven sites — more sites than originally planned for the season. All bulk samples were weighed in the field while being sling-loaded by helicopter to a central lay-down area, with final confirmed weights to follow in the next phase of test work.

The program's three major bulk-sample sites, yielding approximately 30.4, 28.3 and 30.6 tons of material, were located at the toe area in front of Forbindelsesgletscher, on the eastern shore of Uttentaldal Sund. These sites targeted, respectively, the modelled Palladium-Platinum-dominated mineralized Horizon 0, the Gold-dominated mineralized Horizon 3, and the interstitial vanadium-bearing titanomagnetite (VTM) horizons within the Skaergaard gabbro sequence.

Horizon 0 and Horizon 3 form part of the resource-defining horizon framework established for the Skaergaard Mineral Resource Estimate, with Horizon 0 hosting the Company's palladium-dominant "floor" mineralization and Horizon 3 hosting more gold-enriched material higher in the sequence. The VTM horizons occur as laterally continuous, oxide-bearing intervals interlayered with the precious-metal horizons, reflecting the intrusion's distinctive combination of a fine-grained, alloy-hosted precious metals system overlying a coarser-grained iron-titanium-vanadium oxide system.

Site selection for all three major bulk samples was based on detailed geological mapping and the modelled surface outcrop expressions of the gold- and palladium-platinum-dominated horizons and the VTM intervals, cross-checked against historical geochemical assay data.

This included non-SK-1300-compliant historical assay data from three approximately 800-kilogram mini-bulk samples collected by blasting in 2003 from the same general area — one from the palladium-dominated horizon, returning historical assays of up to 4.34 g/t palladium and up to 0.54 g/t gold, and two from the gold-dominated horizon, returning historical assays of approximately 3.3 g/t gold and up to 0.5 g/t palladium — together with non-SK-1300-compliant historical channel-sample assay data across the horizons, with the most recent channel data dating from 2021. These historical figures are provided for geological context only, are non-S-K 1300 compliant, and were not relied upon in the Company's current Mineral Resource Estimate.

In addition to the three major bulk-sample sites, four medium-sized bulk samples were collected from four further sites. These include two samples from the assumed outcropping, gold-dominated Horizon 5, weighing approximately 7.3 tons and 3.9 tons respectively, as well as two samples totaling approximately 4.3 tons from the southwest of the intrusion, representing the assumed outcropping palladium-platinum-dominated Horizon 0. These samples were collected to support variability studies, an essential step toward establishing a well-defined and stable metallurgical processing flowsheet.

As with the major sites, selection of these medium-sized sample locations was based on detailed mapping and modelled surface outcrop expressions, supported by historical channel-sample assay data across the horizons, with the most recent data from 2021.

The blasting program was carried out by an experienced blast crew from Greenlandic contractor Permagreen, working alongside Greenland Mines' own geological and technical team, which also participated in collecting the blasted material into large heli-portable bulk bags. The bulk sample bags will be shipped later this season to GTK Mintec in Finland, where they will be used for large-scale test work and pilot-scale test work aimed at establishing an efficient and robust processing route for the gold-, palladium- and platinum-mineralized and VTM-bearing material at Skaergaard.

All bulk-sample sites were covered by new channel sampling for later reference assay work and also covered by detailed drone-based LiDAR digital elevation surveys and photography, enabling the Company to precisely map the volumes of material removed at each site.

Independent topic specialists in mine engineering, infrastructure planning, processing, and tailings and waste-rock management were also on site over recent weeks, working alongside the Greenland Mines team to assess site conditions, collect topic-specific data, and plan the next phase of technical work at Skaergaard.

Separately, the Company has successfully completed its ground-penetrating radar survey program at Skaergaard, generating detailed measurements of surface cover thickness and characteristics that will support ongoing infrastructure and mine engineering studies.


Sarfartoq: Camp Opened, Structural Mapping Underway, Second Year of Environmental Baseline Studies Completed

At Sarfartoq, Greenland Mines has opened and fully manned its exploration camp for the 2026 field season, marking the first full field program since the Company closed its acquisition of the project on September 1, 2026.

This work builds directly on the compelling project economics established by the Company's Initial Assessment and closing of the Sarfartoq acquisition earlier this month, under which the ST1 deposit alone supports a high-case pre-tax net present value of approximately US$2.05 billion and a pre-tax internal rate of return of 118.6%, including Indicated and Inferred Mineral Resources, based on a nine-year mine life processing 12.2 million tons of material at a delivered head grade of 1.32% TREO. At 2025 consumption levels, Sarfartoq's planned annual NdPr oxide production would represent approximately 34% of all NdPr oxide refined outside China, in every one of the Project's nine scheduled operating years — underscoring why the Company is moving immediately from acquisition into the resource-growth and permitting work described below.

A consultancy team from WSP Denmark has been on site at Sarfartoq since early September conducting the second year of environmental baseline studies at Sarfartoq, building on the first year of baseline work completed in 2023. With this second year of fieldwork, Sarfartoq now has baseline data spanning the minimum two-year period required by Greenland's Environmental Agency for Mineral Resource Activities.

The 2026 program includes terrestrial sampling of lichens across fifteen stations, including three reference stations, to characterize background metal levels; freshwater sampling at five stations across the Paradise Valley and Robinson Valley catchments, including collection of Arctic char; marine intertidal sampling of seaweed, mussels and sculpin near the planned port facility; servicing of the water-flow monitoring station installed in 2023 – which was found to be in good condition and with a data record from the last three years; and general botanical, mammal and bird surveys across the license area. All sampling is being conducted in accordance with protocols developed by the Danish Centre for Environment and Energy for the Greenland mineral resources environmental sample bank, and the work is being carried out with specific accommodation for protected zones in the area, including the Arnnangarnup Qoorua valley and adjacent goose moulting and breeding grounds.

Separately, a geological and structural mapping team led by consulting structural geologist Jeroen van Gool — who brings an extensive personal research history in the Sarfartoq area from previous work in Greenland — is now on site for a three-week program running through late September. The team includes consultants and experienced Greenland-focused geologists together with geology students from the University of Copenhagen.

The program is focused on producing a coherent, detailed geological and structural map of the northern part of the Sarfartoq license, an area that hosts both the prime ST1 resource zone and several additional rare earth exploration targets. The team is collecting rock samples for geochemical analysis, including portable XRF measurements in the field and laboratory whole-rock analysis, to help refine understanding of the grade and extent of known mineralization and to test for new, previously unrecognized occurrences of economic interest across the license.

The program also incorporates hand-held geophysical instrumentation and drone-based topographic mapping to generate detailed orthophotos and a digital elevation model of the mapped area, adding a further layer of high-resolution structural context ahead of the next phase of resource expansion work at Sarfartoq.

About Greenland Mines Ltd

Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: (1) Mining, focused on the exploration and development of the Skaergaard Project in southeast Greenland and the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and (2) Biotech, including Klotho's KLTO‑202 primary indication for ALS. The Company's strategy is centered on building a multi-asset platform with exposure to rare earth magnet materials, precious metals, and select midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.

Forward-Looking Statements
This press release contains forward looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are often identified by words such as "believe," "expect," "anticipate," "intend," "plan," "potential," "could," "may," "will," "should," "estimate" and similar expressions. These forward-looking statements include, but are not limited to, statements regarding the Company's field programs, exploration and metallurgical testwork plans, environmental permitting pathway, and expected timing of future technical studies at Skaergaard and Sarfartoq. These statements are based on current expectations and are subject to risks and uncertainties, including exploration, permitting, weather-related, logistical and financing risks. Field-measured tonnages referenced in this release are preliminary and subject to confirmation. Historical assay data referenced in this release relating to 2003 mini-bulk samples and historical channel sampling are historical in nature, have not been verified by a Qualified Person under SK-1300 or S-K 1300, and should not be relied upon as indicative of current or future mineral resources or reserves. The Initial Assessment for Sarfartoq referenced in this release is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have modifying factors applied to them that would enable them to be categorized as Mineral Reserves; there is no certainty that the results of the Initial Assessment will be realized, and no Mineral Reserves have been estimated for the Sarfartoq Project. Readers should refer to the Company's SEC filings and technical report summaries for complete disclosure and risk factors.

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Website: www.greenlandmines.com

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