Greenland Mines Reports 31% Increase in Indicated Palladium Equivalent Resource at Skaergaard Project

Greenland Mines (NASDAQ: GRML) announced that independent consultant SLR Consulting (Canada) Ltd. has completed the first U.S. Securities and Exchange Commission S-K 1300-compliant Technical Report Summary for the Skaergaard project in southeast Greenland. The report features an updated 2026 Mineral Resource Estimate effective July 3, 2026, which increased indicated contained palladium equivalent (“PdEq”) metal by 31% to 15.0 million ounces, boosted indicated grade by 36% to 3.04 g/t PdEq and raised inferred contained PdEq metal by 24% to 17.49 million ounces compared with the project’s 2022 resource estimate.

The company said the upgraded resource reflects improved geological modeling and updated metal price assumptions, including gold at $3,500 per ounce, while providing the regulatory foundation to advance toward an Initial Assessment under S-K 1300. This milestone is significant as it enhances the project's economic viability and positions Greenland Mines to attract potential partners or financing for development.

Greenland Mines also noted that its 2026 field program is underway with drilling, bulk sampling, engineering, environmental and geotechnical work designed to support evaluation of both open-pit and underground mining scenarios at the Skaergaard project. The program aims to collect data for the upcoming Initial Assessment, which will provide a preliminary economic analysis of the project.

The Skaergaard project is one of the world’s largest undeveloped palladium resources, located in southeast Greenland. The updated resource estimate underscores the project's potential as a significant source of palladium, platinum, gold, and copper. Palladium is a critical metal used in catalytic converters for vehicles, electronics, and hydrogen fuel cells, and its demand is expected to grow with the global push for cleaner energy technologies.

Greenland Mines operates with two divisions: Mining, focused on exploration and development of the Skaergaard project and, subject to closing of a previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and 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 selected midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.

The full press release is available at https://ibn.fm/qqEBp. For the latest news and updates relating to GRML, visit the company’s newsroom at https://ibn.fm/GRML.