Greenland Mines Forms Strategic Advisory Board With Three Industry Leaders to Accelerate Project Development and Western Critical-Minerals Strategy

Initial members bring global rare earths leadership, direct Skaergaard technical knowledge, and proven mine-development and operating experience in Greenland
Advisory Board to support project strategy, studies, permitting, partnerships and the Company’s North Atlantic Critical Metals Corridor

CHARLOTTE, N.C., Sept. 14, 2026 (GLOBE NEWSWIRE) -- via IBN – Greenland Mines Ltd. (Nasdaq: GRML) ("Greenland Mines" or the "Company") today announced the formation of a Strategic Advisory Board and the appointment of its three initial members: Constantine E. Karayannopoulos, Thomas Abraham-James, and Bent Olsvig Jensen.

The Strategic Advisory Board brings together complementary capabilities across the full development pathway for Greenland Mines’ two flagship assets: global rare earth markets, processing and downstream supply chains; direct technical and operating history at the Skaergaard Palladium-Platinum-Gold project; and practical mine development, operations, logistics and stakeholder engagement in Greenland including managing and operation experience from the nearby anorthosite mine only 40 km away from Greenland Mines’ Sarfartoq Neodymium-Praseodymium Rare Earth Project.

Greenland Mines intends to appoint two to three additional members as it continues to broaden the expertise and relationships available to management and the Company’s Board of Directors.

“The creation of our Strategic Advisory Board reflects where Greenland Mines is today and where we intend to go next,” said Dr. Bo Møller Stensgaard, President of Greenland Mines.

“Over the past several months, we have completed the acquisition of Sarfartoq, delivered new S-K 1300 Mineral Resource Estimates for both projects and executed the most extensive multidisciplinary field program undertaken at Skaergaard to date.

“We are now advancing from resource definition and data collection into the next stage of technical studies, permitting, commercial engagement and integrated development planning.

“Constantine, Tom and Bent bring an exceptional combination of capabilities for this next phase for the Company and its Sarfartoq Rare Earth Project and Skaergaard Precious and Critical Metals Project.

“Constantine is a transformational addition to Greenland Mines. Over more than three decades, he has built, led and completed major transactions across the international rare earth and critical-materials industries, with experience spanning mineral resources, separation, advanced materials and permanent-magnet supply chains. He combines deep technical and commercial expertise with an exceptional international network across industry, capital markets and governments in North America, Europe and Asia.

“Constantine also brings a direct and highly relevant connection to Sarfartoq. As President and Chief Executive Officer of Neo Performance Materials, he was instrumental in Neo’s decision to acquire and advance Sarfartoq as a potential source of NdPr-rich feedstock for a more diversified Western rare earth supply chain. His ability to connect high-quality mineral resources with processing capacity, strategic partners, government priorities and end markets will be invaluable as we advance Sarfartoq and develop our broader North Atlantic Critical Metals Corridor. He will be an important strategic sounding board for our leadership and a powerful facilitator of the relationships required to move our vision forward.

“Tom brings first-hand knowledge of Skaergaard and a strong record spanning exploration, public markets and company building. Through his leadership of Pulsar Helium, he has also demonstrated an ability to position critical-resource projects within broader strategic supply-chain priorities — combining upstream resource development with processing infrastructure, financing, constructive government engagement and local stakeholder support.

“Bent brings proven Greenland mine-operating experience from the nearby producing Greenlandic anorthosite in West Greenland — only 40 km west of Sarfartoq — and an important understanding of how projects must be planned and executed in close cooperation with Greenlandic authorities, communities, businesses and the local workforce.

“The Advisory Board will be a practical sounding board for strategy, development sequencing and execution. It will also support our work to connect Greenlandic mineral resources with allied processing capabilities, capital, government initiatives and end markets. That is central to our North Atlantic Critical Metals Corridor: not simply moving material from one location to another, but building resilient, responsible and commercially viable links across the upstream, midstream and downstream value chain.”

Initial Advisory Board Members

Constantine E. Karayannopoulos

Mr. Karayannopoulos, BASc, MASc, P.Eng., is an experienced executive and professional engineer with more than 30 years of senior leadership roles in the rare earth elements, critical minerals, and advanced materials sectors. He has held senior executive and board roles across mining, processing and downstream materials businesses globally.

He most recently served as President and Chief Executive Officer of Neo Performance Materials Inc. (NEO) until his retirement in July 2023. During his tenure with NEO and its predecessors from 2000, he held several senior leadership roles including COO, CEO, Chairman, and again CEO from 2020 to 2023.

As CEO of Neo, he oversaw the company's global expansion and ultimately led the company through its US$1.3 billion acquisition by Molycorp Inc. in 2012. Following the transaction, he served as Vice-Chairman, later becoming interim Chief Executive Officer and Chairman of Molycorp.

Mr. Karayannopoulos is also the co-founder and former non-executive Chairman of Neo Lithium Corp., which developed a major lithium brine project in Argentina before being acquired in 2022 for approximately US$960 million. In addition to his corporate roles, Mr. Karayannopoulos serves as a strategic advisor and board member to several companies in the critical minerals and battery materials sectors.

He has previously served as a director of the Canada China Business Council and sits on the advisory board of the University of Toronto Department of Chemical Engineering and Applied Chemistry. He holds Bachelor and Master of Applied Science degrees in Chemical Engineering from the University of Toronto and is a registered Professional Engineer.

Mr. Karayannopoulos also has direct historical involvement with Sarfartoq. While he was President and Chief Executive Officer of Neo, Neo and Hudson Resources entered into the August 2022 agreement through which Neo pursued Sarfartoq as a potential source of NdPr-rich feedstock for diversified rare earth supply chains. He will advise Greenland Mines on rare earth strategy, processing and product development, market positioning, potential offtake and strategic partnerships, government engagement and relationships across North American and European critical-minerals supply chains.

Thomas Abraham-James

Mr. Abraham-James, BSc (Hons), FAusIMM (CP Geo), FSEG and FGSL, is a geologist, entrepreneur and public-company executive with approximately 20 years of international mineral exploration, project-development and corporate experience. He holds a Bachelor of Science degree with First-Class Honours in Geology from the Australian National University. His honours research examined the evolution and mineralization of South Africa’s Bushveld Complex, one of the world’s most significant platinum-group-metal systems. He began his professional career as a mine geologist with Rio Tinto at the Argyle Diamond Mine before moving into international mineral exploration.

From 2008 to 2012, Mr. Abraham-James served as Exploration Manager of Platina Resources Limited, where he managed the company’s 2008, 2009 and 2010 Greenland field seasons and worked directly on Skaergaard. His first-hand knowledge of the Project’s geology, mineralized horizons, historical technical programs and Arctic field operations provides Greenland Mines with valuable continuity as the Company integrates legacy knowledge with its current S-K 1300 work, metallurgical testing and engineering studies.

Mr. Abraham-James subsequently co-founded Helium One Global Ltd, the first publicly listed company focused specifically on primary helium exploration; founded Greenland-focused Longland Resources Ltd, which was later acquired by Conico Ltd; and co-founded Pulsar Helium Inc., where he currently serves as Chief Executive Officer and a director. He has also contributed to the development of modern primary-helium exploration methodologies and co-authored technical publications, including The Principles of Helium Exploration.

Through these roles, Mr. Abraham-James has built experience across project generation, technical-program design, financing, public markets, processing and commercialization strategy, government engagement and the positioning of critical-resource projects within resilient Western supply chains. He will advise Greenland Mines on Skaergaard’s technical and development strategy, exploration and study design, Greenland field execution, corporate development, strategic partnerships and capital-markets positioning.

Bent Olsvig Jensen

Mr. Olsvig Jensen is a Greenland-based mining executive with approximately 30 years of leadership and operating experience in Greenland across education, the fishing industry, logistics, project management, mineral exploration and mine development. He holds a Bachelor of Education from Aalborg Seminarium and has completed postgraduate studies in educational administration, institutional development, information technology and economics, together with Danish military leadership training.

Mr. Olsvig Jensen has held senior executive roles associated with two of the relatively few Greenland mining projects to have progressed into operation since Greenland assumed responsibility for its mineral resources in 2010. From 2011 to 2016, he served as Chief Executive Officer of True North Gems Greenland during the development, permitting and construction phases of the Aappaluttoq ruby project. He subsequently served as Chief Executive Officer of Xploration Services Greenland, leading a Greenlandic service company that provided operational and turnkey support to mineral-exploration and development projects across the country.

From 2020 through August 2026, Mr. Olsvig Jensen served as Managing Director in Greenland for Lumina Sustainable Materials, leading the development and operation of the White Mountain, or Qaqortorsuaq, anorthosite mine in the Kangerlussuaq fjord region near Sarfartoq. His experience encompasses project financing, operational planning, Arctic logistics and infrastructure, regulatory compliance, workforce and contractor management, government relations, community engagement and the export of Greenlandic mineral products to international markets.

Mr. Olsvig Jensen has chaired the Mineral Resources Industry Committee of the Greenland Business Association since 2020 and, through that position, serves on the association’s board, representing the interests of Greenland’s exploration and mining sector. He also chairs Iserit A/S, the Nuuk municipality-owned property-management company. He founded NEMCo – Nuna Exploration & Mining Consultancy and, following his departure from Lumina, is focusing the consultancy on responsible mineral development and engagement among companies, investors, authorities, communities and other Greenlandic stakeholders.

Mr. Olsvig Jensen’s combination of mine-operating experience, corporate leadership and deep knowledge of Greenlandic society and Arctic operating conditions will be particularly valuable as Greenland Mines advances Sarfartoq into engineering, infrastructure, environmental and social assessment, permitting and feasibility-stage work. He will advise the Company on practical mine development and operations, logistics and infrastructure, permitting strategy, local participation and workforce development, and engagement with Greenlandic authorities, communities and businesses.

Advisory Capability for the Next Phase

The appointments follow a period of rapid project and corporate advancement. Greenland Mines completed the acquisition of Sarfartoq on September 1, 2026, after receiving approval from Naalakkersuisut, the Government of Greenland.

The Sarfartoq Project’s recently published Initial Assessment reported a high-case pre-tax NPV at an 8% real discount rate of approximately US$2.05 billion and a pre-tax IRR of 118.6%, including Indicated and Inferred Mineral Resources. At 2025 consumption levels, planned annual NdPr oxide production attributable to ST1 alone would represent approximately 34% of NdPr oxide refined outside China during each of the Project’s nine scheduled operating years.

Sarfartoq’s maiden 2026 S-K 1300 Mineral Resource Estimate, effective July 31, 2026, established the Project’s first Indicated Mineral Resource under an SEC-recognized standard. The preferred hybrid open-pit and underground configuration comprises 12.2 million tons in total, including 6.90 million tons Indicated at 1.60% total rare earth oxides ("TREO") and 5.34 million tons Inferred at 0.96% TREO. Its strategic strength lies not only in grade but in the value composition of the basket: neodymium and praseodymium represent 83.9% of modeled in-concentrate basket value, with terbium and dysprosium contributing a further 8.5%. Neo Performance Materials retains previously announced offtake rights for up to 60% of future Sarfartoq ore or mineral concentrate production, providing a potential connection to Western-allied rare earth separation and magnet capacity.

Greenland Mines’ next phase at Sarfartoq is directed toward an application to Naalakkersuisut for an exploitation license. In parallel, the Company is planning a technical program for Sarfartoq covering resource upgrading, engineering, infrastructure assessment and scaled metallurgical and processing-flowsheet test work, with the objective of advancing to a Pre-Feasibility Study while continuing discussions regarding additional offtake and strategic partnerships. Two years of environmental baseline field studies have now been completed, providing a foundation for planned environmental and social impact assessment studies.

At Skaergaard, the Company’s 2026 S-K 1300 Mineral Resource Estimate, effective July 3, 2026, reported 153.6 million tons of Indicated Mineral Resources containing 7.57 million ounces of palladium, 3.19 million ounces of gold and 0.60 million ounces of platinum, equivalent to 15.00 million ounces on a palladium-equivalent basis. A further 177.5 million tons of Inferred Mineral Resources contain 7.75 million ounces of palladium, 4.28 million ounces of gold and 0.60 million ounces of platinum, equivalent to 17.49 million palladium-equivalent ounces. The estimate uses a net smelter return cut-off of US$84 per ton based on an underground mining scenario and covers only approximately one-quarter to one-third of the intrusion hosting the defined precious-metal horizons.

The extensive 2026 Skaergaard field campaign is now being concluded after generating the data and material required for the next stage of project evaluation. Operating from the ice-class M/V Argus as an offshore logistics platform, the multidisciplinary program included drilling and geotechnical work relevant to potential open-pit and underground scenarios; a seven-site bulk-sampling program that collected approximately 104.8 tons of mineralized and host material for large-scale and pilot-scale metallurgical test work; bathymetric, photogrammetric and ground-penetrating radar surveys; environmental baseline work; and on-site studies covering mine engineering, infrastructure, processing, tailings and waste-rock management.

The results of this program are intended to feed directly into resource evaluation, pilot-plant processing work, a maiden Initial Assessment, planned Pre-Feasibility Study work and the technical and environmental workstreams required to support a future exploitation-license application. No Initial Assessment or Pre-Feasibility Study has yet been completed for Skaergaard, no Mineral Reserve has been declared, and no production decision has been made.

Building the North Atlantic Corridor

The Strategic Advisory Board will also support Greenland Mines’ broader North Atlantic Critical Metals Corridor strategy, which is designed to connect responsibly developed Greenlandic resources with processing, infrastructure, industrial partners and end markets in allied jurisdictions.

For Sarfartoq, the previously announced relationship with Neo Performance Materials provides a potential route from an NdPr-rich Greenlandic resource to established European separation and magnet capacity. For Skaergaard, high-value, low-volume precious-metal products may offer comparatively flexible export options, while potential VTM-derived products would require a more energy- and infrastructure-intensive solution. Greenland Mines therefore holds a First Right of Refusal over the Helguvík industrial site in Iceland, a brownfield former silicon-metal facility approximately 400 kilometers by sea from Skaergaard, with deep-water port access, existing industrial infrastructure and access to Iceland’s renewable-power system.

Together, these potential routes form a strategic Greenland-to-allied-processing concept spanning rare earth magnet materials, precious metals and critical-mineral by-products.

The Corridor remains a development strategy: its processing configurations, logistics, power requirements, economics, partnerships and permitting remain subject to future technical, commercial, environmental and economic studies.

The Advisory Board is intended to help the Company test those assumptions, identify the right counterparties and sequence the work required to translate that strategy into executable project pathways.

About Greenland Mines Ltd

Greenland Mines Ltd is a Nasdaq-listed resource development and mining company focused on the development of the Skaergaard Project in southeast Greenland and the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland. The Company’s strategy is centered on building a multi-asset platform with exposure to rare earth magnet materials, precious metals and select midstream processing opportunities, while advancing its assets and broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.

Technical Information

The scientific and technical information in this news release relating to Skaergaard is derived from the Company’s July 15 and September 11, 2026 news releases and the S-K 1300 Technical Report Summary referenced therein. The scientific and technical information relating to Sarfartoq is derived from the Company’s August 24, August 25 and September 2, 2026 news releases and the S-K 1300 Technical Report Summaries referenced therein. Readers should review those disclosures and the full Technical Report Summaries for the assumptions, qualifications and cautionary statements applicable to the Mineral Resource Estimates and Initial Assessment.

The Sarfartoq Initial Assessment is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have modifying factors applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the results of the Initial Assessment will be realized, and no Mineral Reserves have been estimated for Sarfartoq. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Field-measured tonnage from the Skaergaard bulk-sampling program is preliminary and subject to confirmation during the next phase of test work. Potential Skaergaard by-products, processing routes and development configurations remain conceptual and are not supported by an economic study.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are often identified by words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “potential,” “could,” “may,” “will,” “should,” “estimate,” “objective” and similar expressions. These forward-looking statements include, but are not limited to, statements regarding: the intended role, activities and expected contributions of the Strategic Advisory Board and its members; the expected appointment of additional members; plans and timing for resource upgrading, metallurgical testing, engineering, environmental and social studies, Initial Assessments, Pre-Feasibility Studies and exploitation-license applications; potential production, processing, infrastructure, logistics, offtake and strategic partnerships; planned 2027 and 2028 work; the results and assumptions of the Sarfartoq Initial Assessment; potential future production and supply-chain significance; potential Skaergaard mining, processing and product configurations; the Helguvík industrial site and the North Atlantic Critical Metals Corridor; and the advancement and potential development of Skaergaard and Sarfartoq.

Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties. Many factors could cause actual results to differ materially, including exploration, resource-estimation, metallurgical, engineering, environmental, social, permitting, logistical, infrastructure, financing, commodity-price, market, counterparty and execution risks; the availability and level of participation of advisory board members; changes to planned programs and timelines; the Company’s ability to obtain required approvals and financing; and risks described in documents filed or to be filed with the U.S. Securities and Exchange Commission. No assurance can be given that studies, applications, partnerships, transactions, development decisions or production will occur on the timing contemplated or at all.

Readers should carefully consider these factors and the other risks and uncertainties described in the Company’s SEC filings. All information in this press release is provided as of its date, and the Company undertakes no obligation to update any forward-looking statement except as required by applicable law.

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