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ECLIPSE METALS LIMITED
Symbol	EPMFF
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Eclipse Metals Limited (EPMFF) Diamond Drilling Underway at Gronnedal - Greenland

2026-10-13 17:44 ET - News Release

Perth, Australia, Oct 14, 2026 - (ABN Newswire) - Eclipse Metals Ltd (ASX:EPM) (FRA:9EU) (OTCMKTS:EPMFF) announced that mobilisation is advancing for its previously announced diamond drilling program at the 100%-owned Gronnedal Rare Earths Project in South Greenland.

Highlights

- Drilling and support equipment has arrived in South Greenland, with unloading underway.

- Camp establishment, access-track preparation and priority drill-site works are progressing.

- Updated field activity approval received following the appointment ofEclipse's new drilling contractor.

- Mobilisation supports the previously announced 17-hole, 2,400-metre diamond drilling program.

- Program designed to upgrade portions of the Inferred resource to the Indicated category and test extensionsbeyond the current Mineral Resource.

- Gronnedal hosts a 208Mt Mineral Resource that is enriched in the magnet rare earth elements neodymium and praseodymium together with strontium.

Eclipse Executive Chairman Carl Popal said:

"The arrival of the drilling equipment and commencement of camp, access and drill-site preparation mark an important transition from planning to field execution.

"Gronnedal already hosts a substantial rare earth resource enriched in the magnet rare earth elements neodymium and praseodymium. This drilling program is designed to increase geological confidence in selected areas while testing the potential for further resource growth.

"With international attention increasingly focused on Greenland andsecure critical-mineral supply, Eclipse has a timely opportunity to advance a strategically located magnet rare earth project. Our immediate focus is completing mobilisation safely and efficiently ahead of drilling."

The mobilisation effort involves two separate shipments directly to the Ivigtut landing facility which is located within Eclipse's mining lease (Figures 1* to 3*).

An initial shipment has delivered the camp equipment, and camp establishment is underway. The vessel carrying two diamond drilling rigs, machinery and supporting equipment has now arrived at the project area, with unloading in progress.

Access-track and priority drill-site preparation is progressing concurrently ahead of transferring the equipment from the fjord landing area to Gronnedal.

Eclipse has also received the updated field activity approval required after appointing its new drilling contractor and making associated changes to the operating arrangements.

Advancing a Globally Significant Pr, Nd and Strontium Enriched Rare Earth Resource Gronnedal hosts a Mineral Resource of 208 Mt at 0.72% TREO, containing approximately 1.505 Mt TREO (Announced on 29 April 2026), including approximately 456,000 tonnes of contained neodymium and praseodymium oxides (Figure 4*). Neodymium and praseodymium are essential inputs into high-strength permanent magnets used across electric mobility, renewable energy, robotics, advanced manufacturing and defence applications.

In addition, the resource contains 3Mt strontium oxide (SrO) at an average grade of 1.45% SrO.

The planned 17-hole, 2,400-metre program will undertake infill drilling within selected areas of the current Inferred Resource and step-out drilling beyond existing resourcelimits (Figures 5* and 6*).

The program has the potential to:

- Support conversion of selected Inferred resources to the higher-confidence Indicated category;

- Test opportunities to extend mineralisation beyond the current resource boundary;

- Strengthen geological confidence across the deposit; and

- Provide additional core for mineralogical, metallurgical and future development studies.

Strategic Greenland location

Gronnedal is located near deep-water access and established infrastructure within the historic Ivigtut-Gronnedal mining district.

The project is advancing at a time of heightened international focus on Greenland and the development of secure, diversified critical-mineral supply chains. Recent initiatives by the European Union and United States have reinforced the strategic importance of rare earths and Greenland's potential role in future Western supply chains.

The Company will provide a further operational update as site preparation advances and drilling gets underway.

*To view tables and figures included in the announcement, please visit:
https://abnnewswire.net/lnk/PK36070J

About Eclipse Metals Limited:

Eclipse Metals Ltd (ASX:EPM) is an Australian exploration company focused on exploring southwestern Greenland, Australia’s Northern Territory and state of Queensland for multi-commodity mineralisation. Eclipse has an impressive portfolio of assets prospective for cryolite, fluorite, siderite, quartz, rare earths, gold, platinum group metals, manganese, palladium and vanadium mineralisation. The Company’s mission is to increase shareholder wealth through capital growth and ultimately dividends. Eclipse plans to achieve this goal by exploring for and developing viable mineral deposits to generate mining or joint venture income.

Contact:

 
Carl Popal
Executive Chairman
Eclipse Metals
+61 8 9480 0420