Issued on behalf of Greenland Mines Ltd.

Greenland Mines Ltd. (NASDAQ:GRML) reported that independent consultant SLR Consulting (Canada) Ltd. has completed the first SEC S-K 1300-compliant Technical Report Summary for its Skaergaard project in southeast Greenland, with an updated Mineral Resource Estimate effective July 3, 2026 that lifts indicated contained palladium-equivalent metal 31% to 15.0 million ounces and indicated grade 36% to 3.04 g/t PdEq versus the project's 2022 estimate.

LOS ANGELES, July 17, 2026 /CNW/ -- Equity Insider News Commentary, There is a specific moment in a mining project's life when it stops being a geological idea and starts being a regulatory asset. It happens when an independent firm signs its name to a resource statement prepared under the disclosure standard that governs the exchange the company trades on. Greenland Mines Ltd. (NASDAQ:GRML) has just reached that moment for its Skaergaard project in southeast Greenland, and the numbers that came with it moved in the right direction.

Key Takeaways

Greenland Mines Ltd. (NASDAQ:GRML) announced that independent consultant SLR Consulting (Canada) Ltd. has completed the first U.S. Securities and Exchange Commission S-K 1300-compliant Technical Report Summary for the Skaergaard project, featuring an updated 2026 Mineral Resource Estimate effective July 3, 2026.
The estimate increased indicated contained palladium-equivalent (PdEq) metal by 31% to 15.0 million ounces, raised indicated grade by 36% to 3.04 g/t PdEq, and lifted inferred contained PdEq metal by 24% to 17.49 million ounces compared with the project's 2022 resource estimate.
The Company attributed the upgrade to improved geological modeling and updated metal price assumptions, including gold at US$3,500 per ounce, and said the report provides the regulatory foundation to advance toward an Initial Assessment under S-K 1300.
Greenland Mines said its 2026 field program is underway, with drilling, bulk sampling, engineering, environmental and geotechnical work designed to support evaluation of both open-pit and underground mining scenarios at Skaergaard.
Investors tracking platinum-group and precious metals follow public names including Impala Platinum Holdings (OTCQX:IMPUY), Ivanhoe Mines (OTCQX:IVPAF), Anglo American Platinum / Valterra Platinum (OTCQX:ANGPY), and Eastern Platinum (NYSE:EPLA), each distinct, and none a proxy for Greenland Mines.

Why an S-K 1300 Report Is the Actual News

The headline number is the 31% increase. The more consequential item is the standard it was reported under.

S-K 1300 is the SEC's mining disclosure regime, the framework that governs how U.S.-listed issuers report mineral resources and reserves. Skaergaard's prior resource baseline was a 2022 estimate prepared under NI 43-101, the Canadian standard. For a Nasdaq-listed company, having the flagship asset's resource carried on a Canadian-standard report is a gap, and the completion of the first S-K 1300-compliant Technical Report Summary closes it. SLR Consulting (Canada) Ltd., acting as independent consultant, prepared the report, with an effective date of July 3, 2026.

That distinction is not paperwork. It is what makes the next step legally available. Greenland Mines was direct about the purpose: the report provides the regulatory foundation to advance toward an Initial Assessment under S-K 1300. An Initial Assessment is the S-K 1300 analogue of a preliminary economic assessment, the first study that attaches economics, however preliminary, to a deposit. A company cannot credibly commission one without a compliant resource underneath it. Skaergaard now has that.

Reading the Numbers Honestly

The movements are substantial and worth setting out precisely. Indicated contained palladium-equivalent metal rose 31%, to 15.0 million ounces. Indicated grade rose 36%, to 3.04 g/t PdEq. Inferred contained PdEq metal rose 24%, to 17.49 million ounces. All three are measured against the project's 2022 estimate.

Now the qualifications, because they matter for reading those figures correctly.

First, palladium-equivalent is a calculated metric, not a physical one. Skaergaard is a gold and platinum-group-metals deposit, and PdEq rolls the value of the contained metals into a single palladium-denominated figure so the deposit can be described with one number. Fifteen million ounces PdEq is not fifteen million ounces of palladium in the ground. It is a value-weighted convention, and the value weighting depends entirely on the prices used.

Which brings up the second point. The Company attributed the upgrade to two things: improved geological modeling and updated metal price assumptions, including gold at US$3,500 per ounce. Those are different kinds of improvement. Better geological modeling means the understanding of the rock changed. Updated price assumptions mean the arithmetic changed. Both are legitimate inputs to a resource estimate, and price decks are supposed to be refreshed as markets move, but an investor reading a 31% increase should understand that some portion of it reflects a different price deck rather than different geology. The release does not break out how much came from which, and that split would be worth knowing.

Third, and most fundamentally: these are Mineral Resources, not Mineral Reserves. Resources do not have demonstrated economic viability. No Initial Assessment, pre-feasibility study, or feasibility study has been completed on Skaergaard. There is no certainty that the resources disclosed will convert to reserves or that an economically viable mining operation can be established. That is the standard caution, and it applies with full force here precisely because the project has not yet reached the study that would test it.

Into the Field

A resource estimate is a model of what is underground. The field season is where the model meets the rock.

Greenland Mines said its 2026 field program is underway, spanning drilling, bulk sampling, engineering, environmental and geotechnical work. The stated purpose is specific: to support evaluation of both open-pit and underground mining scenarios at Skaergaard. That is study-feeding work, and the pairing of open-pit and underground evaluation tells you the project's development shape is still genuinely open.

Bulk sampling and geotechnical work deserve particular attention, because they speak to questions that have sunk otherwise attractive deposits. Bulk sampling feeds metallurgy: can the metal actually be recovered, and at what rate? For a multi-metal deposit reported in equivalent ounces, metallurgical recovery is not a footnote, it is the hinge, because a PdEq figure assumes the contained metals can be extracted and sold. Geotechnical work informs whether pit walls stand and underground ground conditions hold. These are the unglamorous inputs that determine whether an Initial Assessment describes a mine or a museum piece.

Greenland's operating window imposes its own discipline. Fieldwork in southeast Greenland runs against climate and access constraints, and a season that misses its objectives can cost a full year. That is a scheduling risk that has nothing to do with the quality of the deposit and everything to do with where it sits.

The Broader Platform

Skaergaard is the flagship, but it is not the whole company. Greenland Mines describes itself as a Nasdaq-listed company with two operating divisions: Mining, focused on Skaergaard and, subject to closing of a previously announced transaction, the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland; and Biotech, including Klotho's KLTO202 program with a primary indication in ALS.

That is an unusual pairing, and worth naming as such. A company running a Greenland PGM development project alongside an ALS clinical program is pursuing two businesses with almost nothing in common in terms of capital cycle, expertise, or risk profile. The Company's stated strategy is to build a multi-asset platform with exposure to rare earth magnet materials, precious metals and selected midstream processing opportunities, advancing what it calls a North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure. The Sarfartoq rare earths addition is subject to closing, which means it is not yet done.

The strategic backdrop is real enough. Greenland has moved to the center of Western critical-minerals conversations, and rare earth magnet materials in particular sit at the intersection of industrial demand and supply-chain security policy. Whether a single small-cap company can execute across PGM development, rare earths, midstream processing, and clinical-stage biotech simultaneously is a fair question for any investor to ask, and it is not answered by a resource upgrade.

The Public Companies in Platinum-Group and Precious Metals

Greenland Mines is a development-stage company with no reserves, no completed economic study, and no production, and is not directly comparable to the names below. These comparisons are for industry context only; each company pursues a different asset base and business model, most are far larger, revenue-generating, or considerably further along, and none is a proxy for Greenland Mines or implies any partnership, endorsement, affiliation, or comparable performance.

Impala Platinum Holdings (OTCQX:IMPUY) is one of the world's leading producers of platinum-group metals, with large-scale mining and refining operations across South Africa and Zimbabwe producing platinum, palladium, rhodium and nickel. Implats represents the producing end of the PGM market that a development-stage project like Skaergaard is many years and several studies away from, and its recent results have reflected the leverage that established producers carry to higher PGM prices.

Ivanhoe Mines (OTCQX:IVPAF) is developing the Platreef platinum-palladium-rhodium-gold-nickel-copper mine in South Africa, which produced first concentrate in November 2025 and is ramping toward commercial production. Ivanhoe is instructive here as a picture of the road ahead: a large polymetallic PGM deposit that took decades and enormous capital to move from discovery through studies to first concentrate.

Anglo American Platinum / Valterra Platinum (OTCQX:ANGPY) is among the largest PGM producers globally, spanning mined, recycled and traded product, and was demerged from Anglo American in 2025. Valterra offers a view of scale economics and the earnings leverage that flows to major PGM producers in a strong price environment, a very different position from a pre-study development asset.

Eastern Platinum (NYSE:EPLA) is a small-cap PGM company mining and processing ore from the Crocodile River operation in South Africa to produce PGM and chrome concentrates. Eastplats is the closest name here in market capitalization terms, and illustrates the financing and operational constraints that smaller PGM companies navigate, though it is producing while Greenland Mines is not.

The Bottom Line

A resource upgrade is a model revision, not a mine, and Greenland Mines remains a development-stage company whose flagship has no reserves, no completed economic study, and a path to production running through an Initial Assessment, further studies, permitting, financing, and construction, each carrying real risk and each capable of stopping the project. The 31% headline sits on a palladium-equivalent calculation and a US$3,500 gold assumption, and deserves to be read with both of those in view.

But the substance underneath is meaningful. Skaergaard now carries an independently prepared resource under the disclosure standard that governs its own exchange, the indicated grade moved up 36%, and the Company has the regulatory foundation to commission the first study that will attach economics to the deposit. The 2026 field program is in the ground now, testing both open-pit and underground scenarios. For investors tracking how a Greenland precious-and-critical-metals project works toward a development decision, Greenland Mines' S-K 1300 report is a concrete step, with the field program results, the metallurgical work, the Initial Assessment, and the closing of the Sarfartoq transaction the markers worth watching from here.

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SOURCES

[1] Greenland Mines Ltd. (NASDAQ:GRML), "Greenland Mines (GRML) Reports 31% Increase in Indicated Palladium Equivalent Resource at Skaergaard Project" (NewMediaWire, LOS ANGELES, CA, July 16, 2026; SLR Consulting (Canada) Ltd. completion of first S-K 1300-compliant Technical Report Summary; 2026 MRE effective July 3, 2026; indicated 15.0 Moz PdEq at 3.04 g/t, +31% metal / +36% grade; inferred 17.49 Moz PdEq, +24%; gold price assumption US$3,500/oz; 2026 field program; Initial Assessment pathway).

[2] Greenland Mines Ltd., corporate disclosures regarding divisional structure, the Sarfartoq neodymium-praseodymium project, the Klotho KLTO202 program, and the North Atlantic Critical Metals Corridor strategy, 2026.

[3] Impala Platinum Holdings Limited (OTCQX:IMPUY), Ivanhoe Mines Ltd. (OTCQX:IVPAF), Anglo American Platinum Limited / Valterra Platinum Limited (OTCQX:ANGPY), and Eastern Platinum Limited (NYSE:EPLA), corporate disclosures and market data, 2026.

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FORWARD-LOOKING STATEMENTS: This publication may contain forward-looking statements, including statements regarding the updated Skaergaard Mineral Resource Estimate and the Technical Report Summary; the Company's intention and ability to advance toward an Initial Assessment under S-K 1300; the scope, execution, and results of the 2026 field program, including drilling, bulk sampling, engineering, environmental and geotechnical work; the evaluation of open-pit and underground mining scenarios; the closing of the previously announced Sarfartoq neodymium-praseodymium rare earths transaction; the Klotho KLTO202 biotech program; the Company's multi-asset platform and North Atlantic Critical Metals Corridor strategy; and broader trends in Western critical-minerals supply-chain policy. Forward-looking statements are based on current expectations and assumptions and are subject to known and unknown risks and uncertainties, many beyond the Company's control, including the completion and terms of announced transactions; exploration, technical, metallurgical, environmental, and permitting risks inherent in mineral development; the early-stage nature of the Company's projects and the risk that they may not advance to development or production; volatility in palladium, platinum, gold and other metal prices and the effect of price assumptions on resource estimates; risks associated with clinical development of the biotech program; the availability of capital; competition; regulatory and jurisdictional risks, including those specific to operating in Greenland; and other risks described in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, available at www.sec.gov. Actual results could differ materially from those projected. Except as required by law, the Company undertakes no obligation to update any forward-looking statement. References to other companies are based on those companies' public disclosures, are provided for industry context only, and do not imply any partnership, endorsement, affiliation, or comparable performance.

CAUTIONARY NOTE REGARDING MINERAL RESOURCES AND TECHNICAL RESULTS: The 2026 Mineral Resource Estimate for the Skaergaard Project referenced in this article, with an effective date of July 3, 2026, was prepared under the U.S. Securities and Exchange Commission's S-K 1300 disclosure standard by SLR Consulting (Canada) Ltd., which the Company has identified as an independent consultant, and is disclosed in the related Technical Report Summary. This 2026 estimate supersedes the project's 2022 resource estimate, which was prepared under NI 43-101; the percentage increases described in this article are stated relative to that 2022 estimate. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Indicated and Inferred Mineral Resources are estimates only; Inferred Mineral Resources in particular are based on limited geological evidence and sampling, are subject to greater uncertainty, and it should not be assumed that all or any part of an Inferred Mineral Resource will be upgraded to a higher confidence category. Palladium-equivalent (PdEq) is a calculated metric that expresses the combined value of multiple contained metals as a single palladium-denominated figure; it does not represent contained palladium, and it is sensitive to the metal price assumptions used. The updated estimate reflects both revised geological modeling and updated metal price assumptions, including gold at US$3,500 per ounce; different price assumptions would produce different equivalent-ounce figures, and the Company has not disclosed the relative contribution of modeling changes versus price changes to the reported increases. PdEq figures assume metallurgical recovery of the contained metals, which has not been established for the Skaergaard Project. No Initial Assessment, preliminary economic assessment, pre-feasibility study, or feasibility study has been completed on the Skaergaard Project, and there is no certainty that the Mineral Resources disclosed will be converted to Mineral Reserves or that an economically viable mining operation can be established. Nothing in this article should be read as a production decision or as an indication of future revenue, project economics, or net present value.

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