Stockwatch

ECLIPSE METALS LIMITED
Symbol	EPMFF
Recent Sedar+ Documents

Eclipse Metals Ltd (EPMFF) Drilling to Advance Greenland 208 Mt Gronnedal Resource

2026-09-20 18:10 ET - News Release

Perth, Australia, Sep 21, 2026 - (ABN Newswire) - Eclipse Metals Limited (ASX:EPM) (FRA:9EU) (OTCMKTS:EPMFF) announced that, following the expansion of the Gronnedal Mineral Resource from 89 Mt to 208 Mt at 0.72% Total Rare Earth Oxides (TREO) (Announced on 29 April 2026) for and the establishment of its first Indicated component, it has entered into an agreement for a strategic 17-hole diamond drilling program at its 100%-owned Ivigtut-Gronnedal Project in South Greenland. The program will target potential conversion of selected areas of the 202 Mt Inferred Resource to the higher-confidence Indicated category, while also testing extensions beyond the current resource limits.

Highlights

- Agreement reached for a strategic 17-hole diamond drilling program comprising 2,355 metres, scheduled to commence in October 2026, subject to final mobilisation and regulatory requirements.

- Infill drilling will test selected areas of the 202 Mt Inferred Resource for potential conversion to the higher-confidence Indicated category, whilestep-out drilling will test extensions beyond the current resource limits.

- The program builds on the 2025 drilling campaign and subsequent resource modelling, which expanded the Gronnedal Mineral Resource from 89 Mt to 208 Mt at 0.72% TREO andestablished its first Indicated component.

- The current Mineral Resource occupies an area of approximately 500 m by 400 m within a carbonatite complex mapped over approximately 5 km east-west by 1.2 km north-south. The wider system remains lightly drill tested. Any increase or change in classification will depend on drilling results and assessment by the Competent Person in accordance with the JORC Code.

- The Gronnedal Mineral Resource contains an estimated 1.505 Mt of TREO, includingapproximately 456,000 tonnes of contained Nd2O3 and Pr2O3. Mineralisation remains open along strike and at depth.

- The project is located near deep-water port access and infrastructure associated with the historic Ivigtut mining district in South Greenland, providing a potentially important logistical advantage for future project activities.

Eclipse Executive Chairman Carl Popal said:

"The previous drilling campaign expanded the Gronnedal Mineral Resource from 89 million tonnes to208 million tonnes and established its first Indicated component. This next program is designed to increase confidence in selected parts of the large Inferred inventory while testing mineralisation beyond the current resource limits.

"The currentresource occupies only part of the mapped carbonatite system. Our strategic 17-hole program will focus on the areas where drilling can most effectively strengthen geological confidence and test the potential for further resource growth.

"Gronnedal combines substantial scale, magnet rare earth exposure and a strategic South Greenland location at a time of heightened international focus on Greenland and secure Western critical-mineral supply chains. The new drilling will provide important geological, mineralogical and metallurgical data to support future technical and economic studies."

Strategic 17-hole diamond drilling program

The program comprises 17 planned diamond drill holes for 2,355 metres, with individual depths rangingfrom 65 metres to 200 metres. Infill holes will test geological and grade continuity within selected parts of the 202 Mt Inferred inventory. Step-out holes will test mineralisation beyond the current resource limits.

Increasing the Indicated inventory would provide a stronger geological basis for mine planning, economic evaluation and feasibility studies.

Strategic position in South Greenland

The Gronnedal resource contains approximately 1.505 Mt TREO, including approximately 456,000tonnes of Nd2O3 and Pr2O3 and reported dysprosium and terbium oxides used in high-performance permanent magnets (Figures 2 and 3*). These materials are relevant to advanced manufacturing, defence systems, robotics, electric mobility and power infrastructure.

Nearby Ivigtut was historically the world's principal source of cryolite used in aluminium production. It now hosts a separate 4.87 Mt hafnium-led Inferred Mineral Resource containing gallium, yttrium and zirconium (Announced on 15 July2026). The licence also benefits from nearby deep-water access and infrastructure associated with the historic mining district.

Eclipse is an Australian-listed company advancing a Greenlandic project as Europe and North America seek more diversified critical-mineral supply chains. Any future development decision will remain subject to further studies and approvals.

Next steps

- Complete mobilisation and regulatory preparations and commence the 17-hole diamond drilling program.

-Progress the next-stage beneficiation program, including flotation, selective regrind, gangue rejection and hydrometallurgical testing.

- Complete further mineralogical characterisation and confirm the principal REE-bearing mineral phases.

-Integrate drilling, assays, mapping, geophysics, mineralogy and metallurgy into the geological and development models.

- Assess whether the integrated results support an updated Mineral Resource and future technical and economic studies.

- Report material drilling and testwork results in accordance with ASX requirements.

*To view tables and figures included in the announcement, please visit:
https://abnnewswire.net/lnk/JQ4Y1BHD

About Eclipse Metals Limited:

Eclipse Metals Ltd (ASX:EPM) is an Australian exploration company focused on exploring southwestern Greenland, Australia’s Northern Territory and state of Queensland for multi-commodity mineralisation. Eclipse has an impressive portfolio of assets prospective for cryolite, fluorite, siderite, quartz, rare earths, gold, platinum group metals, manganese, palladium and vanadium mineralisation. The Company’s mission is to increase shareholder wealth through capital growth and ultimately dividends. Eclipse plans to achieve this goal by exploring for and developing viable mineral deposits to generate mining or joint venture income.

Contact:

 
Carl Popal
Executive Chairman
Eclipse Metals
+61 8 9480 0420