Greenland Mines Appoints WSP Denmark to Continue Environmental Baseline Work at the Sarfartoq Rare Earth Project
CHARLOTTE, N.C., June 2, 2026 /PRNewswire/ -- Greenland Mines Ltd ("Greenland Mines" or the "Company") (Nasdaq: GRML) today announced that it has engaged WSP Denmark to continue environmental work at the Sarfartoq rare earth project (the "Project") in southwest Greenland as the Project moves into its next phase of environmental baseline studies.
The program is expected to include the second year of environmental baseline studies for Sarfartoq as the Company advances the Project and continues preparatory work ahead of a future Environmental Impact Assessment ("EIA").
WSP Denmark previously completed the first year of updated environmental baseline work at Sarfartoq in 2023 for Neo North Star Resources, Inc., including terrestrial, freshwater, marine and fisheries sampling, water-flow monitoring and general ecological surveys conducted under Greenland's mineral-sector EIA guidelines. Continuing that work in 2026 is intended to build a more complete multi-year dataset on existing environmental conditions in and around the Project area.
Bo Møller Stensgaard, President of Greenland Mines, commented:
"We are very pleased to continue working with WSP Denmark at Sarfartoq. The same experienced team that is currently supporting environmental work at Skaergaard in East Greenland also carried out the first year of environmental baseline studies at Sarfartoq in 2023, so there is strong project familiarity and continuity. In our view, commencing the second year of baseline studies is an important milestone for Sarfartoq and will form a key part of the environmental foundation for the Project as it advances."
The 2026 environmental field program at Sarfartoq is expected to focus on follow-up baseline work and monitoring activities that build directly on the 2023 campaign, including additional sampling and data collection across key environmental receptors.
Multi-year baseline investigations are commonly required in Greenland to capture natural variability prior to any potential development, and Greenland Mines believes that completion of a second year of baseline field studies will provide important support for future environmental assessment, permitting and project-planning activities at Sarfartoq.
WSP Denmark is also currently engaged by Greenland Mines on environmental work related to the Company's Skaergaard Project in southeast Greenland. Greenland Mines believes that using the same environmental consulting group across both Greenland projects supports consistency in execution, field protocols and knowledge transfer as the Company advances its broader critical minerals portfolio.
Further updates on Sarfartoq field activities and related technical work are expected to follow in due course.
About the Sarfartoq Rare Earth Project
Sarfartoq is an advanced carbonatite-hosted rare earth project in southwest Greenland focused on neodymium and praseodymium ("Nd-Pr"), the key rare earth elements used in high-performance permanent magnets for electric vehicles, wind turbines, defense systems and other high-efficiency motors and generators. Historic work at Sarfartoq includes a mineral resource estimate at the ST1 zone, a Preliminary Economic Assessment completed in 2011, extensive drilling, metallurgical test work and environmental baseline studies.
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 rare earth project in southwest Greenland; and (2) Biotech, including Klotho's KLTO‑202 primary indication for ALS. Through its recent acquisition of Greenland Mines Corp., the Company holds the Skaergaard Project, which hosts an NI 43‑101 (November 2022) Mineral Resource of 11.4 Moz PdEq Indicated and 14.1 Moz PdEq Inferred. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. No 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. The Company is led by an experienced team of mining, geological, biotech and capital markets professionals.
Forward-Looking Statements
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward‑looking statements are generally identified by words such as "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result" and similar expressions. Without limiting the generality of the foregoing, the forward‑looking statements in this press release include statements regarding (i) the scope, timing and objectives of environmental work at the Sarfartoq Project, including the anticipated second year of environmental baseline studies; (ii) the potential role of such baseline work in supporting any future environmental assessment, permitting and project-planning activities; (iii) the Company's expectations and plans with respect to the advancement of the Sarfartoq Project; and (iv) the Company's broader strategy and activities in Greenland.
Forward‑looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward‑looking statements in this press release, including, but not limited to, risks and uncertainties related to: the Company's ability to successfully plan and execute environmental baseline work at Sarfartoq as currently envisioned; weather, logistical, operational or other constraints affecting field programs; changes in applicable laws, regulations or guidelines in Greenland or elsewhere; the timing, outcome and requirements of governmental and regulatory processes, including any future EIA and permitting processes; the Company's ability to obtain necessary approvals and third‑party consents; the Company's ability to successfully complete the previously announced acquisition of Sarfartoq; the Company's ability to implement its broader business plans, identify and realize additional opportunities, and meet or exceed its financial or operational projections; and other risks and uncertainties described in the documents filed or to be filed by the Company with the U.S. Securities and Exchange Commission (the "SEC") from time to time.
Readers should carefully consider the foregoing factors and the other risks and uncertainties described in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company undertakes no obligation to update any forward‑looking statement, except as required under applicable law.
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SOURCE Greenland Mines Ltd
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