Greenland Mines Provides Progress Update on 2026 Field Programs at Skaergaard and Sarfartoq

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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

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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.

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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.