Greenland Mines Secures Key Approval for Sarfartoq Rare Earths Acquisition

Greenland Mines (NASDAQ: GRML) has achieved a significant milestone in its strategic expansion into rare earth elements. The Government of Greenland, through its Ministry of Business and Mineral Resources, has formally approved the indirect transfer of Mineral Exploration License MEL 2020-32, covering the Sarfartoq Carbonatite Complex, from Neo Performance Materials Inc. to Greenland Mines. This approval satisfies a key regulatory closing condition for the company's previously announced acquisition of the Sarfartoq Neodymium-Praseodymium (Nd-Pr) Rare Earths Project. The Sarfartoq project boasts a historic NI 43-101 Mineral Resource Estimate and Preliminary Economic Assessment, supported by over 15 years of exploration, more than 23,000 meters of drilling, and extensive metallurgical test work and environmental baseline studies. This acquisition, combined with Greenland Mines' flagship Skaergaard palladium-gold-platinum project, forms the foundation of the company's North Atlantic Critical Metals Corridor strategy.

Greenland Mines is a Nasdaq-listed company with two operating divisions: Mining, focused on exploration and development of the Skaergaard Project in southeast Greenland and, subject to closing, the Sarfartoq rare earths project; and Biotech, including Klotho's KLTO-202 primary indication for ALS. The company's strategy centers on building a multi-asset platform with exposure to rare earth magnet materials, precious metals, and selected midstream processing opportunities. This move positions Greenland Mines to capitalize on the growing demand for critical minerals essential for electric vehicles, wind turbines, and other clean energy technologies, aligning with global efforts to secure supply chains. For more details, visit the full press release at https://ibn.fm/xv5M8 and follow the latest GRML news at https://ibn.fm/GRML.