CHARLOTTE, N.C. , June 4, 2026 /PRNewswire/ -- Greenland Mines Ltd ("Greenland Mines" or the "Company") (Nasdaq: GRML ) today announced that its Greenland operations team has completed an inaugural site visit to the Sarfartoq neodymium‑praseodymium ("Nd‑Pr") rare earths project in southwest Greenland. On May 20, 2026, the Company signed a definitive agreement to acquire Neo North Star Resources, Inc., owner of the Sarfartoq Project, from its stockholders including Neo Performance Materials ("Neo"). Continue Reading Outcropping ST1 Nd Pr mineralization: Outcropping Nd Pr rich rare earth mineralization at the ST1 zone of the Sarfartoq Project, photographed during Greenland Mines’ May 28, 2026 site visit. Drill rigs and logistics at Sarfartoq: View across the ST1 plateau showing the two stored diamond drill rigs, field equipment and the Air Greenland helicopter used during the May 28, 2026 site visit, illustrating the quality of existing drilling and logistics infrastructure at Sarfartoq. Neo Star Camp at the Sarfartoq Project: A fully equipped field facility capable of accommodating approximately 25–30 personnel and providing full support infrastructure for exploration, drilling and development activities across the Sarfartoq license area. Nd‑Pr‑mineralized core sample: Nd Pr mineralized core sample from historic drilling at the Sarfartoq Project, stored at the on site camp alongside core from 161 drill holes totaling approximately 35,800 meters. Sarfartoq is a cornerstone asset within the Company's North Atlantic critical minerals portfolio and the on‑site camp and drill rigs support plans for near‑term geological and environmental work. Site visit overview On May 28, 2026, Country Manager Hans Jensen and Permitting and Community Manager Robert Møller inspected the ST1 Nd‑Pr ore zone within exploration license MEL 2020‑32 and assessed several of the other ST targets – with particular emphasis on ST40 and the approximately 2.5‑kilometre corridor between ST1 and ST40. The team also reviewed existing infrastructure including two diamond drill rigs stored at site and the fully equipped Sarfartoq camp. The drill rigs, camp facilities and field‑support infrastructure are in excellent condition and well suited to supporting new exploration and project development campaigns. The existing camp is designed to accommodate approximately 25–30 personnel and provides full support facilities for geological, drilling and environmental work across the Sarfartoq license area. 2026 field intentions and technical work Greenland Mines intends to re‑open the Sarfartoq camp later in 2026 to support geological mapping, data verification and planning for future drilling, as well as the second year of environmental baseline studies with a view to submitting all relevant documentation for an Exploitation License. Work planning is underway, and the Company expects that having a well‑maintained camp and on‑site drill rigs will allow field activities to ramp up efficiently once final programs and approvals are in place. Neo North Star Resources completed an infill drill program on the ST1 Nd‑Pr ore body in 2023, together with geophysical and geochemical surveys. A total of approximately 4,607 meters of core was drilled at ST1 during that program, in addition to the more than 18,000 meters of historic drilling previously completed at ST1 and other targets on the property. In total, 161 drill holes totaling roughly 35,800 meters have been drilled across the Sarfartoq property. These more recent data have only been used in internal studies by Neo and have not yet been publicly disclosed. Greenland Mines intends to have the 2023 drilling and associated datasets validated and interpreted by an independent geological consultancy as a priority step toward updating the Mineral Resource for ST1. In addition to supporting an updated Mineral Resource Estimate for ST1, Greenland Mines believes the 2023 drilling and associated technical work will help further define the growing geometry of mineralization and improve understanding of value drivers not reflected in the historic 2011 Preliminary Economic Assessment ("PEA"). These may include the potential role of niobium as a future by‑product and the additional contribution of certain higher‑value heavy rare earth elements, including terbium and dysprosium 1 , to the project's basket value, which were not explicitly considered in the historic 2011 PEA. The Company is currently initiating a plan to update the PEA, incorporating a new Mineral Resource Estimate as well as current rare earth market prices. The Company believes that the newer data will assist in evaluating development concepts beyond the historic ST1-only case, including how mineralization in the broader ST1-ST40 trend would influence future resource growth, mine planning and project optimization. In the Company's view, an updated Mineral Resource and a modernized PEA will form a strong technical foundation for advancing the Sarfartoq Nd‑Pr