Greenland Mines Arrives at Skaergaard, Commences Drilling as 2026 Field Season Moves into Full Operation

Support vessel Argus anchored on site following smooth Denmark Strait crossing

Equipment and infrastructure successfully mobilized ashore with safety inductions completed across all operational teams

First drill rigs turning with initial holes expected complete within days

SKAERGAARD, Greenland, Aug. 11, 2026 (GLOBE NEWSWIRE) -- via IBN – Greenland Mines Ltd ("Greenland Mines" or the "Company") (Nasdaq: GRML) is pleased to announce that its support vessel Argus has arrived and anchored at the Skaergaard gold, palladium and platinum project in southeast Greenland, following a smooth crossing of the Denmark Strait.  Drilling has now commenced as the Company's 2026 field season moves into full operation.

Argus anchored close to shore, near the area identified for initial drilling and bulk sampling. Equipment, machinery, materials, and local onshore infrastructure were successfully slung from Argus to shore, and safety drills and inductions were completed across all parts of the operation before work began. The Company's diamond drill rigs, supplied and operated by the drilling company Nordisk Fundering and including two new heli-portable units, have been assembled and are now running, with the first holes of the season expected to be completed within days.

"Arriving safely at Skaergaard and getting rigs turning is a defining moment for this season, and for the project," said Dr. Bo Møller Stensgaard, President of Greenland Mines Ltd. "The crossing was smooth, the offload went exactly to plan, our safety inductions are complete, and drilling is now underway. Every step this summer builds toward the next phase of Skaergaard's development, and this is where that work truly begins. I want to recognize the entire team on the ground and aboard Argus for the professionalism and care that went into getting us here safely and getting equipment ashore so efficiently. That is the foundation for a strong season."

Operational Highlights Since Arrival

• Safe arrival and anchorage: Argus completed a smooth crossing of the Denmark Strait and is now anchored close to shore at Skaergaard Project, near the area targeted for the season's initial drilling and bulk sampling.
• Full mobilization ashore: equipment, machinery, materials, and onshore infrastructure have been successfully transferred from Argus to the Skaergaard shoreline.
• Safety first: safety drills and inductions have been completed across all parts of the operation, consistent with the Company's commitment to a safe, disciplined field season.
• Drilling underway: drill rigs from Nordisk Fundering, including two new heli-portable units, have been assembled and are operating, with the first holes of the season expected to be completed within days.
• Drone-based LiDAR survey work: initial LiDAR drone surveys have been completed, and the areas planned for blasting and bulk sampling later in the season have been outlined.
• Drill target definition advancing: approximately one-third of the season's planned drill locations have been identified and marked in the field, with the remainder to follow as the program progresses.
• Sødalen airstrip confirmed operational: the Sødalen airstrip has been assessed and found to be in excellent condition, providing the Company with an efficient means of mobilizing and demobilizing crew and topic-specific experts over the coming two months by fixed-winged aircrafts, as well as an important safety component.
• Favorable field conditions: the team has been operating under sunny, warm conditions, supporting strong early-season progress.

A Season Built for the Next Phase of Skaergaard

The commencement of drilling marks the start of the operational core of the Company's 2026 field program at Skaergaard, which is designed to support further upgrading of the Mineral Resource, advance metallurgical and engineering studies through bulk sampling, and generate the environmental, geotechnical and infrastructure data required to advance Skaergaard toward an Initial Assessment and its next phase of development. With Argus on site, equipment ashore, and drill rigs turning, the Company is positioned to execute a full and productive season across the coming two months.

About the Skaergaard Project

Skaergaard is one of the world's largest undeveloped palladium, gold and platinum deposits, hosted in the Triple Group of the Skaergaard layered mafic igneous intrusion in southeast Greenland, approximately 400 km west of Iceland. The deposit benefits from deep fjord access and proximity to the existing Sødalen airstrip. Greenland Mines, through its subsidiary Major Precious Greenland A/S, holds an 80% interest in and option to acquire the remaining 20% of the three Mineral Exploration Licenses covering the Project and adjacent areas.

Skaergaard's location on Greenland's east coast is central to the Company's long-term vision for a North Atlantic Critical Metals Corridor, anchored by upstream production at Skaergaard and potential downstream processing and logistics infrastructure in Iceland. In support of this vision, Greenland Mines holds a First Right of Refusal on the Helguvik industrial complex on Iceland's Reykjanes Peninsula, a brownfield site with existing industrial infrastructure, deep-water port access and low-cost renewable grid power, located approximately 400 km by sea from Skaergaard.

About Greenland Mines Ltd

Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: (1) Mining, focused on the exploration and development of the Skaergaard Project in southeast Greenland and, subject to closing of the previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and (2) Biotech, including Klotho's KLTO‑202 primary indication for ALS. 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 broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.

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” and similar expressions. These forward-looking statements include, but are not limited to, statements regarding the scope, timing, progress and expected results of the 2026 field program; the anticipated completion of drill holes; the potential for resource growth and upgrade at Skaergaard; the timing and scope of bulk sampling, environmental, geotechnical and engineering studies; the continued operational use of the Sødalen airstrip; and the Company's plans to advance Skaergaard toward an Initial Assessment and its next phase of development. These statements involve known and unknown risks and uncertainties, including weather, logistical, and operational risks inherent to Arctic field programs, that could cause actual results to differ materially from those expressed or implied. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update any forward-looking statement except as required by applicable law.

For further information:
Investor Relations
Greenland Mines Ltd | Nasdaq: GRML
Email: ir@greenlandmines.com
Website: www.greenlandmines.com

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Attachments

• Drilling Begins
• First Core Meters From the 2026 Drill Campaign
• Wolfgang Maier in Front of Outcrop of Layering
• 2026 Program to Take Larger Bulk Samples
• Greenland Mines Ltd Geologists
• Safety Induction for the Greenland Mines Ltd Crew

Drilling Begins

First drill rig turning at Skaergaard 2026.

First Core Meters From the 2026 Drill Campaign

A hole drilled through the upper Middle Zone and upper part of the gold, palladium, platinum mineralized Triple Group of the 56-million-year-old Skaergaard intrusion. Visual observations of mineralization in drill core are not necessarily indicative of grade or metal content, and assay results are pending.

Wolfgang Maier in Front of Outcrop of Layering

Wolfgang Maier, Professor of Earth Sciences at Cardiff University, recognized as a leading global authority on magmatic ore deposits and layered mafic ultramafic intrusions in discussions with exploration geologists and consultants in front of an outcrop of the layering within the Skaergaard Intrusion.

2026 Program to Take Larger Bulk Samples

Inspection of former blasted mini-bulk sample from Skaergaard gold, palladium and platinum mineralized zone. Greenland Mines Ltd expects to take a planned, much larger multi-ton bulk sample during its 2026 program for metallurgical and processing studies.

Greenland Mines Ltd Geologists

Team surveying former cut channel sample profiles within the gold, palladium and platinum mineralized Triple Group of the Skaergaard intrusion.

Safety Induction for the Greenland Mines Ltd Crew

The Company's support helicopter from Greenland Copter and support vessel Argus, of Icelandic operator IceTug Explorer, visible in the background.