Greenland Resources Inc. announced the results of the NI 43-101 Definitive Feasibility Study for its 100% owned Malmbjerg Molybdenum project, located in east central Greenland. Feasibility Study Highlights: Base case after-tax IRR of 22.4%, NPV6% of USD 1.17 billion (€1.02 billion). Levered2 pre-tax IRR of 40.4%, after tax IRR of 33.8% and payback of 2.4 years.

Twenty-year open pit mine life with average annual production in years 1-10 of 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS2 and average annual LOM production of 24.1 million pounds with a cash cost of USD 6.38/lb Mo. Mineral Reserves 245 million tonnes at an average grade of 0.176% MoS2 containing 571 million pounds of molybdenum metal with very low impurity elements ideal for European high performance steel products. Environmental mine design and process plant design focused on reduced CO2 emissions and water usage.

Potential to generate LOM corporate taxes of more than USD 800 million to the Greenland Government.