Announcement • Jun 30
Greenland Resources Inc Receives Final Approval for $7 Million Non-Repayable Contribution from Government of Canada Greenland Resources Inc. had previously announced on March 2, 2026, a conditional approval, and the Government of Canada concluded its final due diligence and has signed an agreement for a non-repayable contribution of $7,000,000 through Natural Resources Canada's Critical Minerals Research, Development and Demonstration (CMRDD) program. Canada is now the first G7 government to invest in mining in Greenland. The metallurgical program will evaluate, using Canadian expertise, the feasibility of processing primary molybdenum using saline and fresh water for flotation, as well as assess the potential recovery of magnesium and rare earth element as by-products contained within the Malmbjerg ore body and saline water. The program will run until March 2028 with progress updates to be provided in due course. Announcement • Jun 15
Greenland Resources Inc. Commences 2026 Malmbjerg Project Preconstruction Detailed Engineering and Metallurgical Program Greenland Resources Inc. announced a 2026 field program for its Malmbjerg project. This program aims to prepare for preconstruction and longer-term equipment deliveries, in line with the initial scope of work outlined in the recently produced project execution plan. The Company will be undertaking an aggressive metallurgical program aimed at recovering magnesium and rare earth elements. The 2026 Malmbjerg summer field program is scheduled to commence around mid-August and will be completed before the end of September. Up to 25 professionals from Greenland, Canada and Austria will undertake the work utilizing a vessel from Iceland equipped with a helicopter pad to provide accommodation and an operations /communications center. The primary focus of the field program is to conduct detailed engineering in several areas above feasibility level to prepare for preconstruction and longer-term equipment deliveries and to undertake an aggressive metallurgical program for magnesium and rare earth elements recoveries. Detailed design work on the mine support buildings (administration, powerhouse, fuel tank farms and maintenance shop, warehouse facilities) as well as ore and waste rock storage. Detailed design work on the glacier access road located on the Mellem, Sirrus and Schuchert glaciers which will support the main truck transportation route for all equipment and consumables. Installation of survey control stations to facilitate the detailed engineering location of mining and infrastructure installations. Detailed engineering /geotechnical /geophysics work by Doppelmayr and other consultants on the proposed Doppelmayr RopeCon installation comprised of 5 transfer stations, 11 towers and 23 km of special continuous conveyor belting from the crushing station to the processing plant. Further to the January 21, 2026 press release regarding reassays for magnesium and rare earth elements, the chemical and mineralogical characterization of the composite samples and flotation testing is underway, including the beneficiation of molybdenum and the assessment of magnesium and rare earth elements content in the flotation tailings. In addition, the Company collected around 2,000 kg of seawater from Greenland and is conducting magnesium recovery amenability tests using innovative technologies to further advance saline water magnesium recovery studies. As part of the upcoming field program, the Company will collect up to eight tonnes of diamond drill core and 14,000 kg of sea and fresh water from Greenland and will be undertaking an aggressive metallurgical program including pilot plant testwork. The program will include feasibility level magnesium recoveries from saline and fresh water using novel technologies as well magnesium and rare earth elements recoveries from the diamond drill core. The Malmbjerg project benefits from an NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022, with an USD 820 million capex and a levered after-tax IRR of 33.8% and payback of 2.4 years, using USD 18 per pound molybdenum price. The Proven and Probable Reserves are 245 million tonnes at 0.176% MoS2, for 571 million pounds of contained molybdenum metal. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS2, approximately 25% of EU total yearly consumption and 100% of EU defence needs. On byproduct magnesium, the project uses approximately 35,000 m3 per day of saline water with around 900 ppm of magnesium and the Company is working on extracting magnesium from the saline water using innovative technologies. In addition, the molybdenum concentrate has a magnesium and rare earth elements component. The Company is aiming to incorporate magnesium and rare earth elements in the economics of the feasibility study. On June 19, 2025, The Company was awarded an exploitation license for molybdenum and magnesium. Announcement • Feb 25
Government of Greenland Grants Greenland Resources Inc. Exclusive Rights of Special Exploration License MEL-S 2026-07 Greenland Resources Inc. announced the government of Greenland has granted the Company exclusive rights of special exploration license MEL-S 2026-07 consisting of 1,147.76 km in the Semersooq region surrounding the Company’s existing exploitation license for molybdenum and magnesium. The Company now has a dominant mineral licence position in the east coast of Greenland. The new special exploration licence entitles the Company to explore for all minerals except hydrocarbons and radioactive elements and is subject to the Application Procedures and Standard Terms of the government of Greenland. Based on previous reports published by the Geological Survey of Denmark and Greenland, the geochemistry data from rock samples available in the new license area show multiple locations with highly anomalous molybdenum values that could potentially add to our Malmbjerg project. An exploration program including hyperspectral surveys for the new concession will be established. 
