Greenland Resources Receives Final Approval for a $7 Million Non-Repayable Contribution From the Government of Canada

Greenland Resources Receives Final Approval for a $7 Million Non-Repayable Contribution From the Government of Canada

Greenland Resources Inc. (TSX:MOLY | FSE: M0LY) (“Greenland Resources” or the “Company”) is pleased to announce that, as a follow up to its press release dated March 2, 2026 on a conditional approval, the Government of Canada concluded its final due diligence and has signed an agreement for a non-repayable contribution of $7,000,000 through Natural Resources Canada's Critical Minerals Research, Development and Demonstration (CMRDD) program. Canada is now the first G7 government to invest in mining in Greenland.

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The metallurgical program will evaluate, using Canadian expertise, the feasibility of processing primary molybdenum using saline and fresh water for flotation, as well as assess the potential recovery of magnesium and rare earth element as by-products contained within the Malmbjerg ore body and saline water. The program will run until March 2028 with progress updates to be provided in due course.

The Company expresses gratitude to the Government of Canada, Minister Tim Hodgson, and his team for their leadership and support.