Greenland Mines Delivers Landmark S-K 1300 Mineral Resource Estimate for Sarfartoq in Greenland; First-Ever Indicated Resource and First Combined Open Pit/Underground Resource for the Critical Nd-Pr M

Greenland Mines (GRML) received a mineral exploration license for the Sarfartoq project from the Government of Greenland, meeting a key condition for its $35M acquisition from Neo Performance Materials. The stock rose 22%. The project has a historic resource estimate of 27M kg of Nd oxides and 8M kg of Pr oxides.

Greenland Mines Ltd (GRML) received regulatory approval for the transfer of a rare earths license from Neo Performance Materials. This satisfies a key condition for its acquisition of the Sarfartoq Nd-Pr Rare Earths Project. The project is strategically important for Western supply chains, with high Nd-Pr concentrations and advanced development readiness. GRML aims to build a critical metals corridor linking Greenland resources with allied downstream infrastructure.

Greenland Mines (NASDAQ: GRML) added a Mining segment via an asset acquisition of Skaergaard mineral rights, holding an 80% indirect interest. It recorded $48.4M in exploration rights and licenses and $48.7M intangibles as of June 30, 2026. Pre-revenue, it posted a $17.5M six-month net loss, $11.8M operating cash outflow, and $9.3M cash, with management citing substantial going-concern and Nasdaq bid-price deficiency risk.

Greenland Mines Ltd (GRML) filed a 10-Q/A for the quarter ended March 31, 2026, reporting a net loss of $13.9M versus $2.1M a year earlier. The company completed an acquisition of Greenland mineral rights and exploration licenses for $48.4M tied to the Skaergaard Project, and issued 47,940 Series C preferred shares. Cash was $10.0M; it faces going-concern and Nasdaq minimum bid issues.

Greenland Mines Ltd (NASDAQ: GRML) adopted a limited-duration stockholder rights plan (poison pill) effective July 22, 2026, expiring July 22, 2027. It triggers at 15% beneficial ownership, including certain derivative positions, and issues rights to buy shares at a $0.75 exercise price. Rights are to be ratified by shareholders in 2027.

Greenland Mines Ltd. (NASDAQ: GRML) said SLR Consulting (Canada) Ltd. completed the first SEC S-K 1300-compliant Technical Report Summary for its Skaergaard project in Greenland. The updated Mineral Resource Estimate effective July 3, 2026 increased indicated PdEq contained metal 31% to 15.0 million oz and indicated grade 36% to 3.04 g/t PdEq, versus a 2022 estimate.