Greenland Mines And Its Subsidiary Major Precious Greenland A/S Join the European Raw Materials Alliance

Greenland Mines (Nasdaq: GRML) and its 80% subsidiary Major Precious Greenland A/S joined the European Raw Materials Alliance (ERMA) on May 5, 2026.

Rhea-AI Summary

Greenland Mines (Nasdaq: GRML) and its 80% subsidiary Major Precious Greenland A/S joined the European Raw Materials Alliance (ERMA) on May 5, 2026. Membership connects the Skaergaard gold, PGM and critical‑metals project to EU industry, policymakers and investment networks while complementing a proposed North Atlantic processing corridor with potential Icelandic low‑carbon downstream processing.

Positive

• ERMA membership links Skaergaard to EU industrial and policy stakeholders
• Access to end users in automotive, energy, defence, aerospace and high‑tech sectors
• Platform for partnerships, offtake and co‑investment discussions to de‑risk the project
• North Atlantic corridor strategy pairs Greenland resource base with potential low‑carbon processing in Iceland

Negative

• EU Strategic Mineral designation is decided by the European Commission and is not guaranteed
• Processing in Iceland remains a potential option and requires further approvals and commercial arrangements
• ERMA membership is a pipeline/engagement platform, not a binding development commitment

Argus May 5 session

+3.25% close to close Open Argus

Details

News Market Reaction – GRML

On May 5, the day this news came out, GRML closed 3.25% above the previous close.

Data tracked by StockTitan Argus for the May 5 session.

Key Figures

Subsidiary ownership: 80%-owned In-situ value: $68 billion Palladium-equivalent resource: 25.4 Moz +5 more

Subsidiary ownership

80%-owned

Ownership of Major Precious Greenland A/S

In-situ value

$68 billion

Skaergaard in-situ value at Feb 2026 prices (Indicated+Inferred)

Palladium-equivalent resource

25.4 Moz

Skaergaard Indicated+Inferred palladium-equivalent resource (2022 NI 43-101)

Gold-equivalent resource

23.5 Moz

Skaergaard Indicated+Inferred gold-equivalent resource (2022 NI 43-101)

Power price target

below $0.03/kWh

Targeted low-carbon power cost under Iceland LOI

Energy savings goal

>$1 billion

Potential life-of-mine energy savings vs diesel-powered Arctic processing

Site size range

100,000–200,000 m2

Target Icelandic industrial zones for downstream processing

Bulk sample size

10–20 tonnes

Sample size for GTK Mintec pilot-scale processing work

Historical Context

5 past events · Latest: Apr 30

5 events

1. Apr 30

   Project scale update

   24h Move

   +12.5%

   Highlighted consultants, massive Skaergaard resource size, and savings-linked Iceland LOI.

2. Apr 27

   Technical appointment

   24h Move

   -2.9%

   Appointed SLR as geological consultant and Qualified Person for Skaergaard.

3. Apr 23

   Metallurgy program

   24h Move

   -5.9%

   Engaged GTK Mintec for comprehensive metallurgical and processing flow program.

4. Apr 16

   Processing LOI

   24h Move

   +4.2%

   Entered LOI to evaluate Iceland downstream site and supply-chain security program.

5. Apr 02

   Local engagement

   24h Move

   -1.6%

   Subsidiary joined Greenland Business Association to deepen local engagement.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CHARLOTTE, N.C., May 5, 2026 /PRNewswire/ -- Greenland Mines Ltd ("Greenland Mines" or the "Company") (Nasdaq: GRML) is pleased to announce that the Company and its 80%-owned Greenland subsidiary Major Precious Greenland A/S have become members of the European Raw Materials Alliance ("ERMA"), an industry‑driven alliance established by the European Commission to help secure reliable, secure and sustainable access to critical and strategic raw materials for Europe's industrial ecosystems.

ERMA, managed by EIT RawMaterials, brings together stakeholders from across the raw‑materials value chain – including mining and exploration companies, processing and recycling firms, OEMs, technology providers, research organisations, investors, regions and NGOs – to identify investment cases, remove barriers, and support the development of resilient, low‑carbon supply chains for critical raw materials, advanced materials and processing know‑how. The alliance plays a central role in implementing the EU's Action Plan on Critical Raw Materials and supports emerging initiatives under the new EU Critical Raw Materials Act.

Bo Møller Stensgaard, Ph.D., Greenland Mines Ltd President, commented:  "Joining the European Raw Materials Alliance with both Greenland Mines and Major Precious Greenland A/S is an important step in positioning Skaergaard where it belongs: at the heart of the European, North American and transatlantic discussion on secure, low‑carbon critical‑raw‑materials supply. ERMA is the central industrial ecosystem for critical raw materials in Europe, and we are pleased to now be part of that community as we advance Skaergaard.

"Our strategy is to build a North Atlantic critical‑minerals corridor that links world‑class geology in Greenland, developed by Greenland Mines, with potential low‑carbon processing in Iceland and direct access to both European and North American markets. ERMA provides an ideal platform to discuss this concept with industrial end‑users, technology partners and policymakers, and to explore how Skaergaard can fit into future transatlantic supply and value chains."

While EU Strategic Mineral Project designations under the EU Critical Raw Materials Act are decided by the European Commission through a formal application process, ERMA serves as an investment pipeline and support platform for high‑potential raw‑materials projects aligned with those objectives, helping to identify and mature investment cases across the value chain.

Aligning Skaergaard with Europe's critical raw‑materials agenda

Membership in ERMA positions the Skaergaard Gold, Palladium, Platinum and Critical Metals Project squarely within the European conversation on critical‑raw‑materials security, value‑chain resilience and industrial competitiveness. ERMA's stated objectives include:

• Diversifying Europe's supply of critical and strategic raw materials from both primary and secondary sources
• Identifying and supporting investment projects along the full value chain, from mining and processing to recycling and circular‑economy solutions
• Creating industrial clusters and partnerships that can accelerate project development and deployment

For Greenland Mines, ERMA membership provides a structured platform to:

• Engage directly with European industrial users in sectors such as automotive, energy, defence, aerospace and high‑tech manufacturing, where PGMs and other Skaergaard metals play key roles
• Explore options for strategic partnerships, offtake frameworks and co‑investment concepts that can support the advancement and de‑risking of the Skaergaard Project
• Contribute to broader discussions on how Greenland and the wider North Atlantic region can support Europe's critical‑raw‑materials and climate objectives

ERMA has already shown its willingness to support high‑potential raw‑materials projects in Greenland. Greenland Mines' membership builds on this emerging track record of Greenland‑EU collaboration in raw materials.

Connecting to the North Atlantic critical‑minerals corridor

The Company's entry into ERMA complements its recently announced North Atlantic Processing Site Strategy, under which Skaergaard ore would be mined and pre‑processed in East Greenland and then potentially shipped a short distance to Iceland for low‑carbon, geothermal‑powered downstream processing, forming the backbone of a prospective North Atlantic Critical Metals corridor.

By combining a large, multi‑metal resource base in Greenland with a potential low‑carbon processing hub in Iceland and participation in ERMA's EU‑centred industrial ecosystem, Greenland Mines is positioning Skaergaard as a strategic project for both Europe and North America with the ability to contribute to secure, resilient and transparent raw‑materials supply chains across the Atlantic.

Although Greenland Mines is a US‑registered, Nasdaq‑listed company, the addition of ERMA membership – alongside the Company's membership of the Greenland Business Association through Major Precious Greenland A/S – highlights its commitment to working within and across both European and North American frameworks to unlock the full potential of Skaergaard in a way that aligns with allied climate, security and industrial‑policy objectives.

About Greenland Mines Ltd

Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: (1) Natural Resources, focused on the exploration and development of the Skaergaard Project in Southeast Greenland, one of the largest undeveloped palladium, gold, and platinum deposits in the world; and 2) Cell and Gene Therapy, including Klotho's KLTO-202 primary indication for ALS. The Company holds the Skaergaard Project, which hosts a 2022 NI 43-101 Indicated and Inferred Mineral Resource of 25.4 Moz PdEq and 23.5 Moz AuEq, respectively 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. These forward-looking statements generally are identified by the words "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 descriptions of the Company's future commercial operations. 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, such as the Company's inability to implement its business plans, identify and realize additional opportunities, or meet or exceed its financial projections and changes in the regulatory or competitive environment in which the Company operates. You should carefully consider the foregoing factors and the 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, which could cause actual events and results to differ materially from those contained in the forward-looking statements. All information provided herein 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.

The Mineral Resource Estimates referenced in this press release were prepared in accordance with NI 43-101 by SLR Consulting as disclosed in the technical report dated November 22, 2022. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The gross undiscounted in-situ metal values expressed herein are illustrative calculations using February 2026 metal prices and do not account for mining recoveries, metallurgical losses, capital costs, operating costs, royalties, taxes, permitting requirements, or any other technical or economic factors. These values are not indicative of future revenue, project economics or net present value. 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.

Investor Contact and Corporate Communications:
ir@greenlandmines.com

Website: www.greenlandmines.com

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SOURCE Greenland Mines Ltd

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Greenland Mines' ERMA membership mean for Skaergaard (GRML)?

It connects Skaergaard to European industrial partners and policy networks. According to Greenland Mines, membership provides a platform to engage EU end users, explore offtake and co‑investment options, and position Skaergaard in discussions on secure, low‑carbon critical‑raw‑materials supply chains.

Will ERMA membership make Skaergaard an EU Strategic Mineral Project for GRML?

Not automatically — EU designation is decided by the European Commission through a formal application process. According to Greenland Mines, ERMA serves as an investment pipeline and support platform but does not substitute for the Commission's formal designation.

How does the North Atlantic processing plan affect Greenland Mines (GRML)?

The plan pairs Skaergaard mining in East Greenland with potential low‑carbon processing in Iceland. According to Greenland Mines, this strategy aims to create a geothermal‑powered processing hub to support a prospective North Atlantic critical‑metals corridor linking Europe and North America.

What industries could use metals from Skaergaard (GRML)?

Automotive, energy, defence, aerospace and high‑tech manufacturing are potential end users. According to Greenland Mines, PGMs and other Skaergaard metals play key roles in those sectors and membership in ERMA facilitates direct engagement with these industrial users.

Does ERMA membership give Greenland Mines funding or regulatory approvals for GRML projects?

No — membership provides networking and project‑development support rather than direct funding or regulatory permits. According to Greenland Mines, ERMA helps identify investment cases and remove barriers but formal funding and approvals remain separate processes.

How does Greenland Mines' ownership structure relate to ERMA membership for GRML?

Greenland Mines joined ERMA alongside its 80% subsidiary Major Precious Greenland A/S. According to Greenland Mines, this dual membership reflects its intent to work within European and North American frameworks while advancing the Skaergaard project.