Definitive agreement signed on May 20, 2026 to acquire the Sarfartoq Project, a carbonatite-hosted rare earths deposit in southwest Greenland with approximately 27 million kg of neodymium oxide and 8 million kg of praseodymium oxide at the ST1 Zone, and a Nd-Pr ratio of 25–40% of total rare earth oxides, among the highest reported globally.
Greenland Mines Ltd
(NASDAQ: GRML)
The Skaergaard Opportunity
World-Class Scale
2022 NI 43-101 Indicated (11.4 Moz PdEq) and Inferred (14.1 Moz PdEq) Mineral Resource comprising gold, palladium, and platinum - making Skaergaard one of the largest palladium-gold deposits globally
Tier 1 Emerging Jurisdiction
Located in mining-friendly Greenland with a modern regulatory regime and no third-party royalties. Only 400 km away from Iceland with cheap green energy, large industrial sites, and established processing industry, infrastructure and workforce
Geological Consistency
Stratiform mineralisation across 7 defined horizons with excellent grade continuity and upside at depth
Established Access & Permits
Onsite gravel airstrip (Sødalen), helicopter-supported logistics, and seasonal sea access via Mikis Fjord. Fully permitted for exploration with baseline environmental and metallurgical studies already underway
Ready for Next Stage
$30 Million invested in the Skaergaard Project since the 1990s. New drilling and development program aims to double the resource to ~50 million contained ounces of Au, Pd, and Pt
The Sarfartoq Opportunity
687 km² exploration licence area in western Greenland, segmented into 40 sub-sites (ST1–ST40)
Hosted in a large Proterozoic carbonatite complex covering ~90 km² — a globally favoured host for rare earth deposits
ST1 legacy NI 43-101 PEA resource estimate of 5.9 Mt Indicated at 1.8 wt% TREO1 including approximately 27 Nd₂O₃ and 8M kg Pr₆O₁₁.
Elevated concentrations of all four magnet REEs — Nd, Pr, Dy and Tb — with Nd+Pr at 25%–40% of TREO
Drilling database of 161 holes / 35,843 m (94 core holes / 23,000+ m) included in the ST1 resource estimation
- Legacy NI 43-101 compliant PEA-stage Mineral Resource Estimate for the ST1 Zone. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to update the resource estimate under current NI 43-101 standards.
- Definitive agreement signed on May 20, 2026, to acquire Neo North Star Resources, Inc., owner of the Sarfartoq Rare Earths Project in southwest Greenland. Closing of the acquisition is subject to customary closing conditions, including approval from the Government of Greenland under Section 69 of the Greenland Mineral Activities Act for the indirect transfer of the mineral rights licenses, as well as certain other regulatory and third-party consents.
Strong Market Fundamentals
Gold (Au)
$5,100/oz (Feb 2026)
Hedge against inflation and macro/geopolitical uncertainty
Palladium (Pd)
$1,800/oz (Feb 2026)
Crucial for automotive catalytic converters, defense, satellites, and aerospace
Platinum (Pt)
$2,175/oz (Feb 2026)
Rising demand for green hydrogen, automotive applications, defense, and aerospace
