Issued on behalf of Greenland Mines Ltd. CHARLOTTE, N.C. , June 22, 2026 /PRNewswire/ -- USANewsGroup.com News Commentary — As of January 1, 2027, U.S. defense systems will be barred from using neodymium-iron-boron magnets containing Chinese-origin rare earths, and Western governments are scrambling to stand up a supply chain that, for two decades, was allowed to migrate almost entirely to China. That deadline has turned what was once a sleepy corner of the mining world into one of the most strategically charged investment themes of the decade — and it is sending capital toward the handful of companies that can credibly point to magnet-grade rare earth deposits and the processing know-how to turn them into finished product. Against that backdrop, Greenland Mines Ltd. (Nasdaq: GRML ) has moved to accelerate development of its Sarfartoq neodymium-praseodymium (Nd-Pr) rare earth magnet project in southwest Greenland, announcing it has engaged Tetra Tech Canada Inc. and GeoSim Services Inc. to prepare an updated Mineral Resource Estimate (MRE) compliant with the U.S. Securities and Exchange Commission's Regulation S-K 1300. Key Takeaways Greenland Mines (Nasdaq: GRML ) engaged Tetra Tech and GeoSim to prepare an updated S-K 1300 Mineral Resource Estimate for its Sarfartoq Nd-Pr rare earth project, targeting substantial completion by this summer, subject to internal review and approval. Sarfartoq carries a high Nd-Pr ratio — approximately 25%–40% of the total rare earth oxide (TREO) basket — which the company believes is among the higher such ratios reported globally, concentrating value in the two elements that drive magnet economics. The work program leans on continuity of technical leadership: GeoSim's Ronald G. Simpson, P.Geo., served as Qualified Person on the historical 2011 and 2012 resource estimates and as a principal author of the 2011 Preliminary Economic Assessment (PEA). Sarfartoq remains subject to closing of the previously announced transaction with Neo Performance Materials, and the formal transfer of the exploration licenses with Greenland authorities is underway — important conditions investors should weigh. The acceleration lands amid a sector-wide push — from MP Materials (NYSE: MP ), USA Rare Earth (Nasdaq: USAR ), and Energy Fuels (NYSE American: UUUU) — to build a Western, non-China mine-to-magnet supply chain ahead of a January 1, 2027 prohibition on Chinese-origin magnets in U.S. defense systems. An accelerated path to an updated resource Under a consulting services agreement dated June 11, 2026, GeoSim has been engaged to act as Qualified Person for the S-K 1300-compliant MRE at Sarfartoq, with the work led by Ronald G. Simpson, P.Geo. Tetra Tech has been retained under a parallel technical services mandate to provide engineering and metallurgical support. According to the company, the updated MRE is expected to form the basis for an updated PEA and to support future technical studies and public disclosure. The timeline is deliberately compressed. Greenland Mines says the S-K 1300 work program is expected to be advanced on an accelerated basis and substantially completed by this summer, which would allow the company to announce an updated mineral resource for Sarfartoq and file a supporting S-K 1300 Technical Report Summary shortly thereafter — subject to customary internal review and approval. Management has signaled it intends to leverage the updated MRE into an expedited refresh of the 2011 PEA, with a focus on positioning Sarfartoq as an advanced Nd-Pr development project with downstream relevance to U.S. and European markets. Ahead of closing the Sarfartoq acquisition, the company has also initiated the formal transfer process for the Sarfartoq exploration licenses with the relevant Greenland authorities, and says its local team in Nuuk is in active dialogue with regulators to facilitate an orderly transfer. It is a reminder that, for now, Sarfartoq is an asset Greenland Mines is moving toward — not one it holds outright — and the conditional language matters. Why the Nd-Pr ratio is the story Not all rare earth deposits are created equal. The value in the magnet supply chain is concentrated in neodymium and praseodymium — the two elements that, alloyed with iron and boron, make the permanent magnets that spin electric-vehicle motors, pitch wind-turbine blades, and actuate the control surfaces of guided defense systems. A deposit heavy in those two elements is worth disproportionately more, ton for ton, than one dominated by the cerium and lanthanum that sit lower on the value curve. That is what Greenland Mines is leaning on at Sarfartoq. The company describes the project as an advanced carbonatite-hosted magnet rare earth deposit with Nd-Pr constituting roughly 25%–40% of the TREO basket — a ratio it believes ranks among the higher figures reported globally. Historic work, including the 2011 PEA, outlined both open-pit and underground development concepts, and the current program