Mr. Ruben Shiffman reports

GREENLAND RESOURCES PROVIDES UPDATE ON EUR 50 MILLION EQUITY INVESTMENT

Greenland Resources Inc. has provided an update on the potential 50-million-euro equity financing previously announced on April 27 that may include the European Innovation Council's EIC STEP program and an industry investor. The EIC fund's due diligence process is progressing, and, in parallel, negotiations are continuing with the parties involved. As previously announced, the company has already completed the program's initial stages: the eligibility assessment, including receipt of the Sovereignty STEP seal for project excellence and the panel of jurors' recommendation about a potential investment by EIC fund.

The financing remains subject to the EIC fund's final decision and the settlement of definitive documentation with other parties. The company will provide further updates as appropriate.

About Greenland Resources A/S

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 European Union 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 10 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. The company received a grant from the government of Canada and is aiming to incorporate magnesium and rare earth elements as byproducts in the feasibility study. For more information, visit the Greenland Resources website or view the company's Canadian regulatory filings at SEDAR+.

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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