Mr. Ruben Shiffman reports

GREENLAND RESOURCES UPDATES ON GREENLAND DENMARK US AGREEMENT

Greenland Resources Inc. 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 European Union's largest stainless steel producer and the second largest in the United States, and SSAB, which operates steel mills in Sweden, Finland and the U.S. that accounted for 30 per cent of the company's revenues in 2025. Regarding the project's economics, the company's feasibility study uses a molybdenum price of $18 (U.S.) per pound, compared with the current market price of approximately $33 (U.S.) per pound. For after-tax NPV (net present value) and IRR (internal rate of return) sensitivities to molybdenum prices, please refer to tables 1 to 5 and 1 to 6 of the company's National Instrument 43-101 feasibility study.

The company also announces that it will present at the Think Equity Conference on Oct. 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 Inc.

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 National Instrument 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 per cent 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 per cent MoS2, approximately 25 per cent of EU total yearly consumption and 100 per cent of EU defence needs.

On Dec. 3, 2025, the European Commission presented RESourceEU and mentioned the company's Malmbjerg project in Greenland as a priority EU project.

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