Greenland Mines hires firms to update Sarfartoq resource estimate

Greenland Mines Ltd (NASDAQ: GRML) has engaged Tetra Tech Canada Inc. and GeoSim Services Inc. to prepare an updated Mineral Resource Estimate (MRE) for its Sarfartoq Neodymium-Praseodymium rare earth project in southwest Greenland, the company said in a press release dated June 18, 2026.

Under a consulting services agreement dated June 11, 2026, GeoSim will serve as Qualified Person for the SEC Regulation S-K 1300-compliant MRE, led by Ronald G. Simpson, P.Geo. Tetra Tech has been retained in a parallel role to provide engineering, mine-planning and metallurgical support. The updated MRE is expected to form the basis for a revised preliminary economic assessment (PEA).

The company said the MRE work program is targeted to be substantially completed by summer 2026, after which Greenland Mines plans to file a supporting S-K 1300 Technical Report Summary. The updated MRE will incorporate historical NI 43-101 resource estimates from 2011 and 2012, as well as additional drilling and technical studies completed by Neo Performance Materials and its subsidiary Neo North Star Resources Inc. between 2023 and 2025.

GeoSim's Simpson previously served as Qualified Person on the 2011 and 2012 NI 43-101 mineral resource estimates for Sarfartoq and was a principal author of the 2011 PEA completed by Tetra Tech Wardrop.

Greenland Mines also said it has re-appointed WSP Danmark A/S to complete a second year of environmental baseline data collection at the project site.

The company noted it has initiated the formal license transfer process with Greenland authorities ahead of closing its previously announced Sarfartoq acquisition. Neo Performance Materials holds a right to purchase up to 60% of Sarfartoq's Nd-Pr production under the previously disclosed transaction structure.

The Sarfartoq project is described as a carbonatite-hosted rare earth deposit where Nd-Pr constitutes approximately 25%–40% of the total rare earth oxide basket, according to the company.

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