Greenland Mines (NASDAQ: GRML) Reports First S-K 1300 Indicated Resource, Hybrid Mining Estimate for Sarfartoq

Greenland Mines (NASDAQ: GRML) announced an independently prepared S-K 1300 Technical Report Summary (“TRS”) for its Sarfartoq Nd-Pr Rare Earths Project in southwest Greenland, marking the first time the project has reported a portion of its resource in the Indicated Mineral Resource category under an SEC-recognized reporting standard. The report, prepared by Tetra Tech Canada Inc. and GeoSim Services Inc. with an effective date of July 31, 2026, also provides Sarfartoq’s first combined open pit and underground resource estimate. Under the hybrid scenario, which Greenland Mines considers the most representative view of the project’s development potential, Sarfartoq contains an Indicated Mineral Resource of 6.9 million tonnes grading 1.60% total rare earth oxides (“TREO”) and an Inferred Mineral Resource of 5.3 million tonnes grading 0.96% TREO, totaling approximately 12.2 million tonnes at 1.32% TREO. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

At a glance

Company: Greenland Mines Ltd.
Ticker: NASDAQ: GRML
Location: Southwest Greenland

Key figures

Hybrid Indicated Mineral Resource: 6.9 million tonnes grading 1.60% TREO
Hybrid Inferred Mineral Resource: 5.3 million tonnes grading 0.96% TREO
Combined hybrid resource: approximately 12.2 million tonnes at 1.32% TREO
Neo Performance Materials’ future production offtake rights: up to 60%

Products and programs

Sarfartoq Nd-Pr Rare Earths Project

The TRS incorporates data from the project’s 2023 infill drilling and 2026 metallurgical test work and provides underground, open pit and hybrid mining scenarios. Greenland Mines said the report establishes the technical foundation for planning toward an updated Initial Assessment, subject to closing its previously announced acquisition of Neo North Star Resources Inc., the Sarfartoq license holder. As part of that transaction, Neo Performance Materials Inc. (TSX: NEO) will become a strategic Greenland Mines shareholder and retain offtake rights on up to 60% of future Sarfartoq ore or mineral concentrate production.

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About Greenland Mines

Greenland Mines Ltd. is a Nasdaq-listed company with two operating divisions: (1) Mining, focused on the exploration and development of the Skaergaard Project in southeast Greenland and, subject to closing of the previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and (2) 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.

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In brief

Greenland Mines says an independently prepared technical report for its Sarfartoq rare earths project in southwest Greenland has delivered the project’s first Indicated Mineral Resource under an SEC-recognized standard. The report, prepared by Tetra Tech Canada Inc. and GeoSim Services Inc., uses an effective date of July 31, 2026, and presents open pit, underground and combined mining scenarios. In the hybrid estimate, the project has 6.9 million tonnes in the Indicated category at 1.60% TREO and 5.3 million tonnes in the Inferred category at 0.96% TREO. The company says the report supports planning for an updated Initial Assessment, contingent on completing its planned acquisition of Sarfartoq license holder Neo North Star Resources. Neo Performance Materials is expected to become a strategic shareholder and retain certain offtake rights.

Key takeaways

The Sarfartoq report includes the project’s first Indicated Mineral Resource under an SEC-recognized reporting standard.
The hybrid estimate combines open pit and underground mining scenarios.
The report draws on 2023 infill drilling and 2026 metallurgical testing, according to the company.
Planning for an updated Initial Assessment depends on closing the acquisition of Neo North Star Resources.

SEC filings

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