Mr. Jim Cambon reports

ANORTECH AND GREENLAND MINES CLOSE STRATEGIC SHARE EXCHANGE TRANSACTION

Further to the news release of June 16, 2026, Anortech Inc. has closed the previously announced share exchange with Greenland Mines Ltd., a Nasdaq-listed corporation. 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 19.9 per cent on defined terms over the following six months.

Pursuant to a share exchange agreement between the company and Greenland Mines dated June 15, 2026, Greenland Mines has acquired 19,958,503 common shares in the capital of Anortech, in exchange for 12.4 million common shares in the capital of Greenland Mines having a current market value of approximately $3.5-million (U.S.) ($5-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 an additional 25,168,669 Anortech shares, with such option shares bringing Greenland Mines' total shareholding in Anortech to no 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 Nasdaq as at the date of the option exercise.

The Anortech shares issued to Greenland Mines are subject to a contractual lock-up period of 60 months from the date of issuance. One-half of the Greenland Mines shares issued to Anortech are subject to a contractual lock-up for 12 months from the date of issuance, and the remaining one-half of the Greenland Mines shares are subject to a contractual lock-up for 24 months from the date of issuance. No finder's fee was paid in connection with the transaction.

Jim Cambon, president of Anortech, commented: "We are very pleased to have this first tranche closed and welcome Greenland Mines as shareholders. We believe our shareholding in Greenland Mines will create significant value for our shareholders as Greenland Mines builds on its portfolio of critical mineral and metal projects in Greenland. We look forward to working closely with the Greenland Mines team to advance our Greenland assets."

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 toward commercialization, including:

• Zero-waste smelter grade alumina and high-purity alumina;
• Next-generation alumina-based catalysts for 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 approximately $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 rare earth element licence is completed.

We seek Safe Harbor.