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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
July 15, 2026
Greenland Mines Ltd
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
| 001-41340 |
|
86-2727441 |
| (Commission File Number) |
|
(IRS Employer
Identification No.) |
1300 South Boulevard, Suite D
Charlotte, NC 28203
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including
area code (833) 931-6330
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class |
|
Trading Symbol(s) |
|
Name of Each Exchange on Which Registered |
| Common Stock |
|
GRML |
|
The
Nasdaq Stock Market LLC |
| Warrants |
|
GRMLW |
|
The
Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act.
Item
7.01 Regulation FD Disclosure.
On July 15, 2026, Greenland Mines Lrd (the “Company”) issued
a press release regarding the completion by SLR Consulting (Canada) Ltd. of a Technical Report Summary (“TRS”) and S-K 1300-compliant
report for the Skaergaard precious and critical metals project in southeast Greenland. A copy of the press release is attached hereto
as Exhibit 99.1.
The information contained in this Item 7.01 and Exhibit 99.1, attached
hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended and shall
not be deemed incorporated by reference in any filing with the Securities and Exchange Commission under the Securities Exchange Act
of 1934, as amended or the Securities Act of 1933, as amended whether made before or after the date hereof and irrespective of any general
incorporation language in any filings.
This Form 8-K 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. Copies of these documents are available on the
SEC’s website, www.sec.gov. 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.
| Item 9.01 |
Financial Statements and Exhibits. |
| Exhibits |
|
Description |
| 99.1 |
|
Press Release |
| 104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: July 20, 2026 |
GREENLAND MINES LTD |
| |
|
|
| |
By: |
/s/ Joseph Sinkule |
| |
Name: |
Joseph Sinkule |
| |
Title: |
Chief Executive Officer |
2
Exhibit 99.1
Greenland Mines Reports 36-44% PdEq Grade Uplift and +31% Increase
in Indicated PdEq Ounces at its Skaergaard Gold, Palladium, Platinum Project in First S-K 1300 Technical Report Summary
Updated 2026 MRE reflects strong grade and contained-metal increases
versus 2022 baseline; S-K 1300 conversion establishes U.S. regulatory foundation as Company advances toward Initial Assessment
CHARLOTTE, N.C., July 15, 2026 (GLOBE NEWSWIRE) -- via IBN –
Greenland Mines Ltd (Nasdaq: GRML) (“Greenland Mines” or the “Company”) is pleased to report that SLR Consulting
(Canada) Ltd. (“SLR”), the Company’s independent Qualified Person, has completed a Technical Report Summary (“TRS”)
for the Skaergaard precious and critical metals project in southeast Greenland. The TRS conforms to the requirements of the U.S. Securities
and Exchange Commission’s (“SEC”) Modernized Property Disclosure Requirements for Mining Registrants under Subpart 229.1300
of Regulation S-K (“S-K 1300”) and represents the first S-K 1300-compliant report prepared for Skaergaard.
The TRS incorporates an updated Mineral Resource Estimate (“2026
MRE”) with an effective date of July 3, 2026. Against the November 2022 NI 43-101 baseline (the “2022 MRE”), the new
2026 MRE reflects:
| ● | +31%
increase in Indicated PdEq contained metal:
from 11.41 Moz to 15.00 Moz PdEq |
| ● | +24%
increase in Inferred PdEq contained metal:
from 14.11 Moz to 17.49 Moz PdEq |
| ● | +36%
increase in Indicated PdEq grade:
from 2.23 g/t to 3.04 g/t PdEq |
| ● | +44%
increase in Inferred PdEq grade:
from 2.14 g/t to 3.07 g/t PdEq |
The 2026 MRE, prepared by SLR Consulting under the SEC’s S-K
1300 standard, confirms Skaergaard as one of the largest undeveloped palladium, gold and platinum resources in the western world –
at a moment when palladium supply chains are under structural pressure, and Greenland has emerged as a priority jurisdiction for allied-nation
critical mineral strategies. The grade and contained-metal improvements recorded in the 2026 MRE are driven by both a more robust geological
model and metal prices that now reflect the market reality of 2026, including gold at US$3,500/oz.
Comment from President of Greenland Mines Ltd, Dr, Bo Møller
Stensgaard:
“This is a genuine and material step forward for Skaergaard.
We have taken the 2022 mineral resource – already substantial – applied current gold and palladium prices and an improved
block model methodology that better reflects the true geometry of the deposit, and the result is a resource that is more than 31 percent
larger in Indicated PdEq ounces with a grade 36 percent higher.
“That is a material upgrade in the economic quality of
what Skaergaard holds. And critically, this is just the platform. The S-K 1300 conversion gives us the regulatory foundation to move
directly into an Initial Assessment, which will, for the first time, formally evaluate what an open-pit scenario looks like at Skaergaard
alongside underground options.
“With our 2026 field team on the ground for our summer campaign,
adding new drilling data, bulk sampling for metallurgical test and pilot plant work, geotechnical measurements, engineering studies, environmental
baseline studies and other investigations, we are building the technical inputs needed for an Initial Assessment – the S-K 1300
equivalent of a Preliminary Economic Assessment – in real time.
“Skaergaard is advancing fast – this release is proof
of that. The resource is bigger, the grade is higher, and the next chapter starts now.”
The Company notes that the S-K 1300 conversion is the first required
step in placing Skaergaard on a U.S. regulatory reporting foundation. It allows Greenland Mines to reference the prior body of technical
work within the S-K 1300 framework and lays the groundwork for the next stage of study: an Initial Assessment (“IA”) –
the S-K 1300 equivalent of a Preliminary Economic Assessment (“PEA”) – which will integrate potential open-pit and underground
mining scenarios for the deposit.
UPDATED MINERAL RESOURCE ESTIMATE 2026 FOR SKAERGAARD
S-K 1300 Mineral Resource Table – Skaergaard Project
Effective Date: July 3, 2026
Prepared by: SLR Consulting (Canada) Ltd. / Philip A. Geusebroek, M.Sc., P.Geo. |
| Category |
Mineralized
Horizon |
Area |
Tonnage
(Mt) |
Grade
(g/t) |
Contained Metal
(Moz) |
| PdEq |
Pd |
Au |
Pt |
PdEq |
Pd |
Au |
Pt |
| Indicated |
H5 |
North |
0.2 |
5.03 |
0.27 |
2.22 |
0.04 |
0.03 |
0.00 |
0.01 |
0.00 |
| |
Main |
18.3 |
5.24 |
0.58 |
2.16 |
0.07 |
3.09 |
0.34 |
1.27 |
0.04 |
| H3 |
North |
3.9 |
3.42 |
0.43 |
1.38 |
0.05 |
0.43 |
0.05 |
0.17 |
0.01 |
| |
Main |
39.0 |
3.02 |
0.81 |
1.02 |
0.06 |
3.79 |
1.01 |
1.27 |
0.07 |
| H0 |
North |
18.8 |
2.64 |
2.13 |
0.16 |
0.15 |
1.60 |
1.29 |
0.10 |
0.09 |
| |
Main |
73.3 |
2.57 |
2.07 |
0.15 |
0.16 |
6.06 |
4.87 |
0.35 |
0.39 |
| Total Indicated |
All |
153.6 |
3.04 |
1.53 |
0.65 |
0.12 |
15.00 |
7.57 |
3.19 |
0.60 |
| |
| Inferred |
H5 |
North |
34.9 |
3.90 |
0.61 |
1.52 |
0.06 |
4.38 |
0.68 |
1.71 |
0.07 |
| H3 |
North |
13.8 |
3.42 |
1.16 |
1.01 |
0.11 |
1.51 |
0.51 |
0.44 |
0.05 |
| |
Main |
39.1 |
3.19 |
0.78 |
1.11 |
0.05 |
4.01 |
0.99 |
1.39 |
0.06 |
| H3_L1 |
North |
0.1 |
3.64 |
0.51 |
1.46 |
0.04 |
0.01 |
0.00 |
0.01 |
0.00 |
| |
Main |
8.3 |
3.17 |
0.95 |
1.01 |
0.07 |
0.85 |
0.25 |
0.27 |
0.02 |
| H0 |
North |
15.1 |
2.52 |
1.92 |
0.21 |
0.14 |
1.22 |
0.93 |
0.10 |
0.07 |
| |
Main |
66.2 |
2.59 |
2.06 |
0.17 |
0.16 |
5.51 |
4.38 |
0.35 |
0.33 |
| Total Inferred |
All |
177.5 |
3.07 |
1.36 |
0.75 |
0.11 |
17.49 |
7.75 |
4.28 |
0.60 |
Notes:
| 1. | The
definitions for Mineral Resources in S-K 1300 were followed for Mineral Resources, which are consistent with CIM (2014) definitions. |
| 2. | The
Mineral Resource estimate is reported on a 100% ownership basis. |
| 3. | Mineral
Exploration Licences MEL 2007-01, MEL 2012-25, and MEL 2021-10 that comprise the Project are 100% owned by Major Precious Greenland A/S
(MPG), which is 80% owned by Greenland Mines Ltd (GRML) and 20% owned by Intrusion Precious Metals Corp. (IPMC). MEL 2007-01 covers the
Skaergaard Intrusion, the main host of the Skaergaard deposit. Areas ‘North’ and ‘Main’ are separated by the
northern lateral moraine of the Forbindelses Glacier, at approximately 7,563,500N |
| 4. | Mineral
Resources are reported on an in situ basis, applying factors for mining dilution, mining losses, and process losses. Net Smelter Return
(NSR) calculations assume underground mining costs of US$32.17/t, processing costs of US$35/t, and general and administration (G&A)
costs of US$16.67/t. NSR is calculated using the formula NSR Value = (91.83 * g/t Au) + (40.68 * g/t Pd) + (42.63 * [g/t Pt). |
| 5. | Mineral
Resources are reported at an NSR cut-off value of US$84 per tonne. |
| 6. | Mineral
Resources are estimated using long-term prices of US$3,500/oz Au, US$1,725//oz Pd, and US$2,100/oz Pt, and assume metallurgical recoveries
of 86% Pd, 89% Au, and 80% for Pt, and standard commercial terms for a precious metals concentrate. |
| 7. | A
minimum mining width of 2.0 m was used. NSR for thicknesses less than 2.0 m was factored to 2.0 m to represent dilution. |
| 8. | PdEq
grades were calculated using the formula PdEq (g/t) = g/t Pd + (2.258 * g/t Au) + (1.048 * g/t Pt). |
| 9. | Reasonable
prospects for economic extraction (RPEE) were satisfied by constructing polygons using blocks above the NSR cut-off value for thicknesses
greater than 2.0 m and NSR cut-off value factored to 2.0 m to represent dilution where thicknesses are less than 2.0 m. RPEE included
a visual check on the geometry and spatial continuity of the mineralization. |
| 10. | The
Main area includes material south of the northern edge of the Forbindelses Glacier and under the glacier, and the North area includes
material to the north of the Forbindelses Glacier. |
| 11. | Bulk
density is 3.12 t/m3. |
| 12. | Numbers
may not add due to rounding. |
SAME ROCK, MORE VALUE: THE METHODOLOGY AND PRICE DRIVERS BEHIND
THE UPGRADE
The 2026 MRE draws on the same drill database as the 2022 MRE –
93 diamond drill holes and 30 channel samples, totaling 42,050 meters of drilling and 1,409 meters of channel sampling completed between
1989 and 2021. Three important changes were made:
| 1. | Updated
metal prices and a new NSR-based cut-off grade. The 2022 MRE used a 1.43 g/t PdEq cut-off based on metal prices of US$1,725/oz Pd, US$1,800/oz
Au and US$1,250/oz Pt. The 2026 MRE applies an NSR cut-off of US$84/ton using updated assumptions – including gold at US$3,500/oz
– that more accurately reflect the current market environment. This is the primary driver of the higher reported grades. |
| 2. | Adoption
of an industry-standard block model in place of the Deswik (mining software) panel methodology. SLR’s Qualified Person determined
that the flat-panel geometry of the Deswik methodology was poorly suited to the shallow bowl-shaped geometry of the Skaergaard deposit,
causing excess dilution that pushed material below cut-off. SLR reverted to the standard block model with inverse-distance-cubed (ID3)
grade interpolation – the same interpolation used in the 2022 model – combined with an NSR × thickness (“GRTHK”)
classification threshold. This removes a source of artificial dilution and better honors the true geometry of the mineralized horizons. |
| 3. | Updated
resource classification boundaries. Classification boundaries were updated using SLR’s best-practice drill-spacing-based NSR approach,
consistent with standard industry practice and aligned with a future bulk-mining context. The 2.0 m minimum thickness criteria were adapted
to use the new NSR block and cut-off values. NSR for thicknesses less than 2.0 m was factored to 2.0 m to represent dilution. |
| 2022 MRE vs. 2026 MRE COMPARISON |
| Category |
Metric |
2022 MRE
(NI 43-101) |
2026 MRE
(S-K 1300) |
Change |
| Indicated |
Tonnage (Mt) |
158.95 |
153.6 |
-3.4% |
| Grade PdEq (g/t) |
2.23 |
3.04 |
+36.3% |
| PdEq (Moz) |
11.41 |
15.00 |
+31.5% |
| Inferred |
Tonnage (Mt) |
205.42 |
177.5 |
-13.6% |
| Grade PdEq (g/t) |
2.14 |
3.07 |
+43.5% |
| PdEq (Moz) |
14.11 |
17.49 |
+24.0% |
The modest reduction in tonnage reflects the tighter economic cut-off at current metal prices and the removal of low-grade dilution from
the prior panel model. The result is a higher-grade, higher-confidence resource that more accurately represents the underlying mineralization.
The combination of updated metal prices – including gold at US$3,500/oz
– and an improved geological model that removes artificially dilutive material from the prior estimate has produced a leaner but
substantially more valuable resource: fewer tons, but with a higher NSR value per ton mined, a stronger grade profile, and more contained
PdEq metal in total. In mining terms, the 2026 MRE describes a more economically robust rock inventory than its 2022 predecessor.
Notably, the 2026 MRE was modelled using underground mining cost assumptions.
As the Company advances evaluation of a potential initial open-pit scenario – targeting near-surface mineralization on the northern
plateau area of the deposit – there is a clear pathway to an even more favorable cost structure that would further enhance the economic
case for Skaergaard.
S-K 1300 – THE FOUNDATION FOR THE NEXT PHASE
This S-K
1300 TRS represents the starting point of a new regulatory and development chapter for Skaergaard. The conversion:
| ● | Establishes
the deposit’s Mineral Resources under the SEC’s current reporting standard, providing investors with disclosure directly
comparable to peer companies reporting under S-K 1300; |
| ● | Creates
a compliant technical foundation from which the Company can proceed to an Initial Assessment (“IA”) – the S-K 1300
equivalent of a Preliminary Economic Assessment (“PEA”); and |
| ● | A
key focus of the IA will be the evaluation of an initial open-pit mining scenario for the northern plateau area, where Gold, Palladium
and Platinum mineralization occurs at or near surface. An open-pit first approach would typically offer materially lower capital and
operating costs than an underground operation, potentially shortening the timeline to first production and improving early-stage project
economics. |
The 2026 field program includes drilling, bulk sampling, mapping, geotechnical
work and a much-improved digital terrain model on the northeastern plateau and towards the west – areas identified in the TRS as
having near-surface open-pit potential. Results from the 2026 season will serve as inputs to the planned IA, including the evaluation
of the open-pit scenarios, alongside updated engineering, metallurgical and infrastructure studies being advanced by the Company’s
technical partners.
ABOUT THE SKAERGAARD PROJECT
Skaergaard is one of the world’s largest undeveloped palladium,
gold and platinum deposits. The deposit is hosted in the Triple Group of the Skaergaard layered mafic igneous intrusion in southeast Greenland,
approximately 400 km west of Iceland, with fjord access and an existing nearby gravel airstrip. The mineralization consists of seven stratiform
horizons (H0 to H6) within the upper 90 m of the Middle Zone, each typically 2 to 5 m thick. The deposit also contains elevated levels
of titanium, vanadium and gallium in the surrounding iron-oxide sequence, representing potential by-product credits subject to further
technical evaluation.
Skaergaard sits within what the Company has defined as its North Atlantic
Critical Metals Corridor – a geostrategic position in East Greenland, approximately 400 km west of Iceland and with direct sheltered
deep-water fjord access, that aligns the project with western allied-nation critical mineral supply strategies at a time of accelerating
demand for secure, western-world sources of palladium and platinum group metals.
Greenland Mines, through its subsidiary Major Precious Greenland A/S,
holds an 80% interest in and option to acquire the remaining 20% of the three Mineral Exploration Licenses covering the Skaergaard Project.
QUALIFIED PERSON STATEMENT
The 2026 Mineral Resource Estimate was prepared by an independent Qualified
Person, as defined under S-K 1300, employed by SLR Consulting (Canada) Ltd. The SLR QP has reviewed and approved the technical content
of this news release. The TRS will be filed as an exhibit with the SEC and made available on the Company’s website.
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 neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and (2) Biotech,
including Klotho’s KLTO-202 primary indication for ALS. The Company’s strategy is centered on building a multi-asset platform
with exposure to rare earth magnet materials, precious metals, and select midstream processing opportunities, while advancing its broader
North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning
of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are often identified by words such as “believe,”
“expect,” “anticipate,” “intend,” “plan,” “potential,” “could,”
“may,” “will,” “should,” “estimate” and similar expressions. These forward-looking statements
include, but are not limited to, statements regarding the expected benefits of the S-K 1300 conversion; the potential of the Skaergaard
Project; the anticipated results of the 2026 field program; the timing and scope of an Initial Assessment; the potential to evaluate open-pit
and underground mining scenarios; potential by-product credits from vanadium, gallium and titanium; and the Company’s North Atlantic
Critical Metals Corridor strategy. These statements involve known and unknown risks and uncertainties that could cause actual results
to differ materially from those expressed or implied. Mineral Resources are not Mineral Reserves and do not have demonstrated economic
viability. Readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update any forward-looking
statement except as required by applicable law.
Investor Contact and Corporate Communications:
ir@greenlandmines.com
Website:
www.greenlandmines.com
6
