LOS ANGELES, CA - August 17, 2026 - Greenland Mines (NASDAQ: GRML) has completed its 2026 bathymetric survey campaign at the Skaergaard Project in southeast Greenland, covering more area than originally planned and producing high-resolution seabed data across the fjords surrounding the project. This data has already been used to guide the company's support vessel to a new anchorage within 500 meters of the initial 2026 operational area, demonstrating immediate practical application.
The survey results are expected to support the creation of new official navigational charts, a dedicated navigational safety study, and planning for future large-scale marine shipping operations. This is a critical step for the project's logistics, as safe and efficient marine access is essential for transporting equipment, personnel, and eventually, extracted materials. The improved navigational data reduces risks associated with operating in the remote and challenging Arctic environment, which is vital for the project's timeline and cost management.
In addition to the survey, Greenland Mines has completed all HQ-diameter drill core required for its planned multiton metallurgical bulk sample and has transitioned to NQ-size core drilling for resource definition and geotechnical work through the remainder of the season. A new core shack for logging, sampling, and storage is fully operational. This progress is part of a broader 2026 field program at Skaergaard encompassing resource definition drilling, metallurgical bulk sampling, environmental baseline studies, and infrastructure planning as the company advances the project toward an Initial Assessment.
The completion of the survey and the drilling milestones are significant for Greenland Mines as they move the Skaergaard Project closer to a comprehensive Initial Assessment. The Initial Assessment will provide a preliminary evaluation of the project's economic viability, which is crucial for attracting investment and securing necessary permits. The metallurgical bulk sample will allow for large-scale processing tests, providing critical data on the recovery of valuable minerals, which is essential for feasibility studies.
Greenland Mines is a Nasdaq-listed company with two operating divisions: 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 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 selected midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
These developments are important for the mining industry and the broader critical minerals sector. The Skaergaard Project is expected to contain significant deposits of rare earth metals and other critical minerals, which are essential for modern technologies, including electric vehicles, wind turbines, and defense systems. By advancing this project, Greenland Mines is contributing to the diversification of the global supply chain for these materials, reducing dependence on a single source. The successful completion of the bathymetric survey and drill program demonstrates the company's operational capabilities in harsh Arctic conditions, which could pave the way for other mining ventures in Greenland.
Investors and stakeholders will be watching the progress of the Initial Assessment and subsequent feasibility studies closely. The outcome of the metallurgical bulk sample tests will be particularly influential in determining the project's economic viability. The company's ability to execute on its plans in Greenland will also be a test of the broader North Atlantic Critical Metals Corridor vision, which aims to link Greenland's resources with allied countries' industrial infrastructure.
For more information on the full press release, visit https://ibn.fm/vk7G8. For the latest news and updates relating to GRML, see the company's newsroom at https://ibn.fm/GRML.
