Greenland Resources Inc. (TSX:MOLY | FSE:M0LY) (“Greenland Resources” or the “Company”) is pleased to announce that further to its August 24, 2026 press release, the summer field program was expanded and successfully completed on schedule on September 17, 2026. The program included 33 professionals from Austria, Canada and Greenland, including participants from the nearby community of Ittoqqortoormiit. Results from the summer work program will support detailed project engineering and enable procurement of key equipment and construction contracts.

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The Company also wishes to inform that Greenland Resources A/S received a partial payment of €163,025 (C$261 thousand) under the EU Horizon Europe investment program previously announced in its May 21, 2026 press release. The grant relates to the BOREAS project led by Luleå University of Technology in Sweden, which aims to develop autonomous robotic systems to support certain aspects of the Malmbjerg project in Greenland. The other EU Horizon Europe investment program on €50 million, announced on April 27, 2026, remains ongoing.

Highlights

• The Company chartered the Polar Athena vessel for the summer field program, and part of the payment will go to the SOI Foundation to support global youth programs in Greenland, the EU and Canada.
• Established project-wide survey stations to provide a precise coordinate system for project infrastructure.
• Conducted glacier-geometry interpretation using seismic geophysics as part of detailed engineering and environmental studies.
• Analyzed glacier geometry using drone-frequency technology to support detailed engineering.
• Optimized the Doppelmayr transportation conveyor, or RopeCon.
• Performed a geotechnical inspection of the Mellem Valley for infrastructure locations, including advance access to critical road infrastructure crossing the Mellem River.
• Collected diamond drill core and saline and fresh water for metallurgical pilot plant operational testing under the Government of Canada $7 million non-repayable contribution.

Scope of Work

Underhill Geomatics of Burnaby, B.C., Canada provided onsite surveying services by positioning survey stations across the Malmbjerg claim, giving specialists accurate locations for their field programs. In areas requiring access support, mountain guides secured the work sites so surveyors could install survey pins marking features such as RopeCon transfer stations and towers. The surveyors also worked closely with other consultants to confirm precise field locations.

Frontier Geoscience Inc. of Vancouver assessed glacier geometry primarily through seismic and TEM geophysical surveys of glaciers, moraines and alluvium. The surveys examined subsurface composition and structure to help determine how best to manage RopeCon infrastructure, the waste rock pile, roadway structures and other planned infrastructure.

Drone frequency technology was employed by Georesearch Forschungsgesellschaft mbH, Austria, who are specialists in surface and subsurface mapping using drone-based photogrammetry and geophysics. The program focused was on assessing glacier ice thickness as well as internal structure with ground penetrating radar required to do detailed engineering. Drone-based photogrammetry was used for mapping geological structures and GIS applications for further geotechnical investigations.

Doppelmayr Transport Technology GmbH, Wolfurt, Austria personnel together with the surveyors and geotechnical team conducted optimization work on mountain and valley topographies from the loadout facility and planned concentrator located at tidewater. The work included: i) Inspection of the RopeCon routing survey monuments from the RopeCon loadout to the tidewater terminus; ii) Inspection of the transfer stations and tower locations as specified in the optimized 2026 routing; iii) Inspection of the topography along section 2 to reduce the number of towers; iv) Ground proofed the routing from section 3 to tidewater terminus with the geotechnical team, surveyors and mountain guides; v) Doppelmayr ground proofing exercise resulted in reducing the number of support structures located near the terminus.

BGC Engineering Inc., Vancouver, B.C., Canada provided geotechnical and glacier engineering consulting services. Their site program comprised of interrogating the glacier environments to determine the engineering requirements for establishing the proposed construction and operational infrastructure in such challenging locations. The company reviewed the planned consultants’ activities to ensure the information collect from the programs meet their requirements in advancing the project.

As part of the planned metallurgical pilot plant program funded through the Government of Canada to test molybdenum, magnesium and rare earth elements, the Company’s geological consultants collected 8 tonnes of selected diamond drill core, based on the initial 10-year molybdenum feed grade, and 14 tonnes of saline and fresh water for metallurgical testing. The material and water will be shipped to SGS Lakefield Vancouver for the planned pilot plant program, and the Company will provide updates as the work advances.

About Greenland Resources

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 NI 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% 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% MoS₂, approximately 25% of EU total yearly consumption and 100% of EU defence needs. For more information, visit www.greenlandresources.ca or view the Company’s Canadian regulatory filings at www.sedarplus.com.

On December 3, 2025 the European Commission presented RESourceEU, and mentioned the Company’s Malmbjerg project in Greenland as a priority EU project. The Project is supported by the European Raw Materials Alliance and EIT RawMaterials GmbH, a body of the European Union.

Forward Looking Statements

This news release contains "forward-looking information" (also referred to as "forward looking statements"), which relate to future events or future performance and reflect management’s current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "hopes", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the Company’s objectives, goals or future plans; planned capex financing and outcomes of due diligence reviews; construction and engineering initiatives for the Malmbjerg molybdenum project; statements, exploration results, potential mineralization, the estimation of mineral resources and reserves, and their valuation, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions.

These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: future planned development and other activities on the Project; favourable outcomes of due diligence reviews; planned energy requirements of the Project; obtaining the permitting on the Project in a timely manner; no adverse changes to the planned operations of the Project; continued favourable relationships with local communities; current EU and other initiatives remaining in place into the future; expected demand for molybdenum in the EU and abroad, including by companies that expressed an interest in purchasing molybdenum; our mineral reserve estimates and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical studies; estimated valuation and probability of success of the Company’s projects, including the Malmbjerg molybdenum project; prices for molybdenum remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner or at all; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the favourable results of the SIA (Social Impact Assessment) and EIA (Environmental Impact Assessment); favourable local community support for the Project’s development; the projected demand for molybdenum both in the EU and elsewhere, including by companies that expressed an interest in purchasing molybdenum; the current initiatives and programs for resource development in the EU and abroad; the projected and actual status of supply chains, labour market, currency and commodity prices interest rates and inflation; the projected and actual status of the global and Canadian capital markets, fluctuations in molybdenum and commodity prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar versus the Euro); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structure formations, cave-ins, flooding and severe weather); inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in Greenland, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information. Neither the Cboe Canada Exchange nor its regulation services provider accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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