Greenland Resources Updates ON Greenland Denmark US Agreement
PRESS RELEASE 26-15
September 21, 2026
GREENLAND RESOURCES UPDATES ON GREENLAND DENMARK US AGREEMENT
TORONTO, ONTARIO -- (September 21, 2026) – Greenland Resources Inc. (TSX:MOLY | OTCQX:GRLRF |
FSE:M0LY) (“Greenland Resources” or the “Company”) welcomes the recent defence agreement among Greenland,
Denmark, and the United States, which the Company believes will strengthen security and certainty, encourage
investment, benefit the people of Greenland, and support a sustainable long-term supply of Greenland minerals for
end users.
The Company has signed binding long-term agreements with major global steel companies, including Outokumpu,
the EU’s largest stainless steel producer and the second largest in the United States, and SSAB, which operates steel
mills in Sweden, Finland, and the United States that accounted for 30% of the Company’s revenues in 2025. Regarding
the project’s economics, the Company’s Feasibility Study uses a molybdenum price of US$18 per pound, compared
with the current market price of approximately US$33 per pound. For after -tax NPV and IRR sensitivities to
molybdenum prices, please refer to Tables 1-5 and 1-6 of the Company’s NI 43-101 Feasibility Study.
The Company also announces that it will present at the Think Equity Conference on October 15 at the Mandarin
Oriental Hotel in New York and hold one-on-one meetings with investors. The Company is listed on the Toronto
Stock Exchange under the symbol MOLY and on the over the counter OTCQX in the United States under the symbol
GRLRF and is evaluating a potential uplisting to a major U.S. exchange.
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.
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 informat ion 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 benefits of the
Greenland, United States and Denmark Security Agreement; 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.