Greenland Resources Concludes Successful Summer Field Program
PRESS RELEASE 26-14
September 17, 2026
GREENLAND RESOURCES CONCLUDES SUCCESSFUL SUMMER FIELD PROGRAM
TORONTO, ONTARIO -- (September 17, 2026) – Greenland Resources Inc. (TSX:MOLY | FSE:M0LY)
(“Greenland Resources” or the “Company”) is pleased to announce that further to its August 24, 2026 press release,
the summer field program was expanded and successfully completed on schedule on September 17, 2026. The program
included 33 professionals from Austria, Canada and Greenland, including participants from the nearby community of
Ittoqqortoormiit. Results from the summer work program will support detailed project engineering and enable
procurement of key equipment and construction contracts.
The Company also wishes to inform that Greenland Resources A/S received a partial payment of €163,025 (C$261
thousand) under the EU Horizon Europe investment program previously announced in its May 21, 2026 press release.
The grant relates to the BOREAS project led by Luleå University of Technology in Sweden, which aims to develop
autonomous robotic systems to support certain aspects of the Malmbjerg project in Greenland. The other EU Horizon
Europe investment program on €50 million, announced on April 27, 2026, remains ongoing.
Highlights
• The Company chartered the Polar Athena vessel for the summer field program, and part of the payment will
go to the SOI Foundation to support global youth programs in Greenland, the EU and Canada.
• Established project-wide survey stations to provide a precise coordinate system for project infrastructure.
• Conducted glacier-geometry interpretation using seismic geophysics as part of detailed engineering and
environmental studies.
• Analyzed glacier geometry using drone-frequency technology to support detailed engineering.
• Optimized the Doppelmayr transportation conveyor, or RopeCon.
• Performed a geotechnical inspection of the Mellem Valley for infrastructure locations, including advance
access to critical road infrastructure crossing the Mellem River.
• Collected diamond drill core and saline and fresh water for metallurgical pilot plant operational testing under
the Government of Canada $7 million non-repayable contribution.
Scope of Work
Underhill Geomatics of Burnaby, B.C., Canada provided onsite surveying services by positioning survey stations
across the Malmbjerg claim, giving specialists accurate locations for their field programs. In areas requiring access
support, mountain guides secured the work sites so surveyors could install survey pins marking features such as
RopeCon transfer stations and towers. The surveyors also worked closely with other consultants to confirm precise
field locations.
Frontier Geoscience Inc. of Vancouver assessed glacier geometry primarily through seismic and TEM geophysical
surveys of glaciers, moraines and alluvium. The surveys examined subsurface composition and structure to help
determine how best to manage RopeCon infrastructure, the waste rock pile, roadway structures and other planned
infrastructure.
Drone frequency technology was employed by Georesearch Forschungsgesellschaft mbH, Austria, who are specialists
in surface and subsurface mapping using drone-based photogrammetry and geophysics. The program focused was on
assessing glacier ice thickness as well as internal structure with ground penetrating radar required to do deta iled
engineering. Drone-based photogrammetry was used for mapping geological structures and GIS applications for
further geotechnical investigations.
Doppelmayr Transport Technology GmbH, Wolfurt, Austria personnel together with the surveyors and geotechnical
team conducted optimization work on mountain and valley topographies from the loadout facility and planned
concentrator located at tidewater. The work included: i) Inspection of the RopeCon routing survey monuments from
the RopeCon loadout to the tidewater terminus; ii) Inspection of the transfer stations and tower locations as specified
in the optimized 2026 routing; iii) Inspection of the topography along section 2 to reduce the number of towers; iv)
Ground proofed the routing from section 3 to tidewater terminus with the geotechnical team, surveyors and mountain
guides; v) Doppelmayr ground proofing exercise resulted in reducing the number of support structures located near
the terminus.
BGC Engineering Inc., Vancouver, B.C., Canada provided geotechnical and glacier engineering consulting services.
Their site program comprised of interrogating the glacier environments to determine the engineering requirements for
establishing the proposed construction and operational infrastructure in such challenging locations. The company
reviewed the planned consultants’ activities to ensure the information collect from the programs meet their
requirements in advancing the project.
As part of the planned metallurgical pilot plant program funded through the Government of Canada to test
molybdenum, magnesium and rare earth elements, the Company’s geological consultants collected 8 tonnes of
selected diamond drill core, based on the initial 10-year molybdenum feed grade, and 14 tonnes of saline and fresh
water for metallurgical testing. The material and water will be shipped to SGS Lakefield Vancouver for the planned
pilot plant program, and the Company will provide updates as the work advances.
About Greenland Resources
Greenland Resources is a publicly listed Canadian and Greenlandic company developing Malmbjerg, a world-class
Climax-type primary molybdenum deposit near tidewater in east-central Greenland. The project has a NI 43-101
Definitive Feasibility Study produced by Tetra Tech, a 30-year molybdenum and magnesium exploitation licence, an
environmentally responsible mine design, and binding long term offtake agreements with major EU steel producers.
Proven and probable reserves total 245 million tonnes grading 0.176% MoS2, containing 571 million pounds of
molybdenum. 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. For more information,
visit www.greenlandresources.ca or view the Company’s Canadian regulatory filings at www.sedarplus.com.
On December 3, 2025 the European Commission presented RESourceEU, and mentioned the Company’s Malmbjerg
project in Greenland as a priority EU project. The Project is supported by the European Raw Materials Alliance and
EIT RawMaterials GmbH, a body of the European Union.
For further information please contact:
Ruben Shiffman, PhD Chairman, President
Keith Minty, P.Eng, MBA Engineering and Project Management
Jim Steel, P.Geo, MBA Exploration and Mining Geology
Nauja Bianco, M.Pol.Sci. Public and Community Relations
Gary Anstey Investor Relations
Eric Grossman, CPA, CGA Chief Financial Officer
Toronto office Suite 1810, 25 York Street, Toronto, Ontario, Canada M5J 2V5
Greenland office Qullilerfik 26, 3900 Nuuk, Greenland
Telephone 1-844-252-0532
Email [email protected]
Web www.greenlandresources.ca
Forward Looking Statements
This news release contains "forward-looking information" (also referred to as "forward looking statements"), which
relate to future events or future performance and reflect management’s current expectations and assumptions. Often,
but not always, forward-looking statements can be identified by the use of words such as "plans", "hopes", "expects",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations
(including negative variations) of such words and phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved. Such forward -looking statements reflect
management’s current beliefs and are based on assumptions made by and information currently available to the
Company. All statements, other than statements of historical fact, are forward-looking statements or information.
Forward-looking statements or information in this news release relate to, among other things: the Company’s
objectives, goals or future plans; planned capex financing and outcomes of due diligence reviews; construction and
engineering initiatives for the Malmbjerg molybdenum project; statements, exploration results, potential
mineralization, the estimation of mineral resources and reserves, and their valuation, exploration and mine
development plans, timing of the commencement of operations and estimates of market conditions.
These forward-looking statements and information reflect the Company’s current views with respect to future events
and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are
inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These
assumptions include: future planned development and other activities on the Project; favourable outcomes of due
diligence reviews; planned energy requirements of the Project; obtaining the permitting on the Project in a timely
manner; no adverse changes to the planned operations of the Project; continued favourable relationships with local
communities; current EU and other initiatives remaining in place into the future; expected demand for molybdenum
in the EU and abroad, including by companies that expressed an interest in purchasing molybdenum; our mineral
reserve estimates and the assumptions upon which they are based, including geo technical and metallurgical
characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and
processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical
studies; estimated valuation and probability of success of the Company’s projects, including the Malmbjerg
molybdenum project; prices for molybdenum remaining as estimated; currency exchange rates remaining as estimated;
availability of funds for the Company’s projects; capital decommissioning and reclamation estimates; mineral reserve
and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials,
supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions
in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a
timely manner or at all; and the ability to comply with environmental, health and safety laws. The foregoing list of
assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements and information include known and unknown risks,
uncertainties and other factors that may cause actual results and developments to differ materially from those
expressed or implied by such forward-looking statements or information contained in this news release and the
Company has made assumptions and estimates based on or related to many of these factors. Such factors include,
without limitation: the favourable results of the SIA (Social Impact Assessment) and EIA (Environmental Impact
Assessment); favourable local community support for the Project’s development; the projected demand for
molybdenum both in the EU and elsewhere, including by companies that expressed an interest in purchasing
molybdenum; the current initiatives and programs for resource development in the EU and abroad; the projected and
actual status of supply chains, labour market, currency and commodity prices interest rates and inflation; the projected
and actual status of the global and Canadian capital markets, fluctuations in molybdenum and commodity prices;
fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations
in currency markets (such as the Canadian dollar versus the U.S. dollar versus the Euro); operational risks and hazards
inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment
breakdown, unusual or unexpected geological or structure formations, cave -ins, flooding and severe weather);
inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all
necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government
practices in Greenland, including environmental, export and import laws and regulations; legal restrictions relating to
mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified
personnel; the availability of additional capital; title matters and the additional risks identified in our filings with
Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Although the Company has
attempted to identify important factors that could cause actual results to differ materially, there may be other factors
that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue
reliance on forward-looking statements or information. These forward-looking statements are made as of the date
hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume
any obligation, to update the forward-looking information. Neither the Cboe Canada Exchange nor its regulation
services provider accepts responsibility for the adequacy of this release. No stock exchange, securities commission or
other regulatory authority has approved or disapproved the information contained herein.