Mr. Jim Cambon reports

ANORTECH AND GREENLAND MINES ENTER INTO STRATEGIC SHARE EXCHANGE AGREEMENT

Anortech Inc. has entered into a share exchange agreement with Greenland Mines Ltd., a Nasdaq Stock Market-listed corporation (GRML). This strategic investment in Anortech provides Greenland Mines with an initial 9.9-per-cent equity position in Anortech, together with an option to increase its ownership to as much as 19.9 per cent on defined terms over the following six months.

Pursuant to the agreement, Greenland Mines will acquire 19,958,503 common shares in the capital of Anortech, representing 9.9 per cent of the issued and outstanding Anortech shares immediately after closing, in exchange for the issuance by Greenland Mines to the company of 12.4 million common shares in the capital of Greenland Mines having a current market value of approximately $3.72-million (U.S.) ($5.2-million (Canadian)).

Under the terms of the agreement, Anortech has also granted Greenland Mines an option for a period of six months following closing to acquire up to an additional 25,168,669 Anortech shares. In no case shall the number of shares purchased by Greenland Mines result in Greenland Mines owning more than 19.9 per cent of Anortech's issued and outstanding share capital. The option shares shall be purchased by Greenland Mines at a price per share equal to the greater of: (i) 30 Canadian cents; and (ii) the last closing price prior to the option being exercised, with consideration to be satisfied through the issuance of Greenland Mines shares based on the 10-day volume-weighted average trading price of the Greenland Mines shares on the Nasdaq as at the date of the option exercise.

Anortech shares will be subject to a contractual lock-up period of 60 months from the date of issuance. The Greenland Mines shares issued to Anortech will be subject to a contractual lock-up as to one-half of the Greenland Mines shares for 12 months from closing and the remaining one-half of the Greenland Mines shares for 24 months from closing.

The transaction is subject to customary closing conditions, including acceptance by the TSX Venture Exchange. No finder's fee is being paid in connection with the transaction.

Jim Cambon, president of Anortech, commented:

"We are very excited to be entering into this strategic relationship with Greenland Mines, which is assembling an unmatched portfolio of critical metals projects in Greenland. Greenland Mines has the team, market presence and financial strength needed to rapidly advance these projects. Greenland Mines recently acquired the Sarfartoq rare earths project in Greenland, which Anortech owned and operated for many years. Anortech will contribute its 24 years of expertise in the exploration and development of Sarfartoq and other projects in Greenland, and will provide Greenland Mines with exposure to our leading-edge alumina technologies that we are developing through our Gronne Bjerg anorthosite project."

Bo Moller Stensgaard, president of Greenland Mines, commented:

"This investment expands Greenland Mines beyond upstream resource exposure and moves us closer to the mid-stream segment of the critical materials value chain, where strategic bottlenecks and value capture increasingly sit. It aligns directly with our vision of building a North Atlantic critical metals corridor linking advantaged Greenland resource assets with industrial processing opportunities in allied jurisdictions such as Iceland or North America, while adding exposure to sustainable alumina and other advanced materials that we believe can become strategically important to Western supply chains."

About Greenland Mines Ltd.

Greenland Mines is a Nasdaq-listed critical and precious minerals development company advancing a portfolio of strategic assets in Greenland. The company's strategy is centred on building a multiasset platform with exposure to rare earth magnet materials, precious metals and selected mid-stream processing opportunities, while advancing its broader North Atlantic critical metals corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.

About Anortech Inc.

Anortech is pioneering the next generation of sustainable materials from anorthosite. The company owns 100 per cent of the Gronne Bjerg anorthosite project in Greenland -- strategically located just 80 kilometres northeast of Nuuk, the capital of Greenland, on open tidewater and adjacent to significant hydroelectric potential.

Anortech is advancing multiple product lines towards commercialization, including:

• Zero-waste smelter-grade alumina (SGA) and high-purity alumina (HPA);
• Next generation alumina-based catalysts for CO2 (carbon dioxide) capture;
• CO2-free refractory cement and advanced 3-D-printable cement;
• Lunar construction materials using anorthosite-based concrete.

The company filed a U.S. provisional patent in 2025 to protect its proprietary sustainable SGA and HPA process and shipped 15 tonnes of Gronne Bjerg anorthosite to Ontario in preparation for pilot plant testing. Anortech is actively pursuing strategic industry partnerships to accelerate commercialization. Anortech has $1.6-million in working capital and expects to receive $1-million (U.S.) plus $750,000 (U.S.) in Greenland Mines Nasdaq-listed shares once the transfer of the Sarfartoq REE (rare earth element) licence is completed.

We seek Safe Harbor.