Greenland Mines Advances Skaergaard and Sarfartoq Projects, Bolstering Texas and Global Critical Minerals Supply

Greenland Mines (NASDAQ: GRML) has issued a shareholder letter from President Dr. Bo Moller Stensgaard, detailing key advancements in its mining operations, including the closing of its Sarfartoq Neodymium-Praseodymium (Nd-Pr) Rare Earths Project acquisition on September 1 and ongoing development at the Skaergaard palladium-gold-platinum project. These strides underscore the company's commitment to building a diversified portfolio of critical minerals, which are essential for various high-tech and green energy applications.

The Sarfartoq project, now acquired, has shown promising economic potential. An independent Initial Assessment revealed a high-case pre-tax Net Present Value (NPV) of approximately $2.05 billion and an Internal Rate of Return (IRR) of 118.6%, based on Indicated and Inferred Mineral Resources. The updated resource estimate for Sarfartoq includes 6.9 million tonnes of Indicated resources at 1.60% Total Rare Earth Oxides (TREO) and 5.3 million tonnes of Inferred resources at 0.96% TREO. Additionally, Neo Performance Materials holds strategic shareholder status with offtake rights for up to 60% of future production, ensuring a dedicated market for the rare earths.

At the Skaergaard project, Greenland Mines is making significant headway. The July 2026 S-K 1300 Technical Report Summary reported a 36% increase in Indicated Palladium Equivalent (PdEq) grade and a 31% increase in contained Indicated PdEq ounces compared to the 2022 estimate. The company is currently executing a 2026 field program that includes drilling, bulk sampling, geotechnical studies, and environmental baseline surveys. Bulk samples are being sent to GTK Mintec in Finland for metallurgical and processing flowsheet testing, which is crucial for optimizing extraction methods.

These projects are integral to Greenland Mines' broader North Atlantic Critical Metals Corridor strategy, which aims to link Greenland's mineral resources with allied downstream jurisdictions and industrial infrastructure. This corridor is expected to enhance supply chain resilience for critical materials, particularly for industries in Texas and across the United States that rely on rare earth elements for magnets, electronics, and defense systems, as well as precious metals for automotive and industrial catalysts.

Looking ahead, Greenland Mines has set ambitious milestones for 2026. The company plans to advance Sarfartoq toward infill drilling and a Pre-Feasibility Study, while moving Skaergaard toward an Initial Assessment that evaluates a mining scenario. These steps are crucial for transitioning from exploration to production, which could have significant economic impacts, including job creation and technological advancement.

The progress at Greenland Mines is particularly relevant to Texas, a state with a robust energy and technology sector. Securing domestic sources of critical minerals like neodymium and palladium is vital for reducing reliance on imports and strengthening the supply chain for industries such as electronics manufacturing, renewable energy, and automotive production. For businesses in Texas, these developments could lead to more stable pricing and availability of materials essential for their operations.

Investors and industry observers are closely watching Greenland Mines' execution of its strategy. The company's focus on responsible development, including environmental baseline studies, indicates a commitment to sustainable practices. As the world transitions to cleaner energy and advanced technologies, the demand for critical minerals is set to soar, making projects like Sarfartoq and Skaergaard increasingly valuable.

For more information on Greenland Mines and its recent activities, the full press release can be accessed at https://ibn.fm/pxuR2, and the company's newsroom is available at https://ibn.fm/GRML.