Mr. Jim Cambon reports

ANORTECH SECURES STRATEGIC CORNERSTONE AS GREENLAND MINES DOUBLES STAKE TO 19.9%

Greenland Mines Ltd. has exercised in full its option under the share exchange agreement between it and Anortech Inc. (see NR2026-04) to acquire an additional 25,168,669 common shares of Anortech at a deemed price of 30 cents per share. On closing of the transaction, Greenland Mines' ownership will double from approximately 9.9 per cent to approximately 19.9 per cent of Anortech's issued and outstanding common shares, establishing Greenland Mines as a major strategic shareholder.

In exchange for the Anortech shares, Greenland Mines will issue common shares with a deemed value of approximately $5,298,000 (U.S.) ($7,550,600) of its common shares to Anortech giving Anortech a meaningful position in a Nasdaq-listed company and increased access to U.S. markets. The exact number of the Greenland Mines shares will be based on the 10-day volume-weighted average trading price ending immediately before closing of Greenland Mines' common shares on Nasdaq at the time of closing.

Jim Cambon, president of Anortech, commented:

"Greenland Mines' decision to exercise its option in full is a strong endorsement of what we are building at Anortech. Greenland Mines understands the value we are creating from Greenland anorthosite and its exciting future as a key component in the aluminum critical mineral supply chain and as the primary material for lunar project development. We are moving our smelter grade alumina and high-purity aluminum technologies towards commercialization while continuing to advance our anorthosite lunar applications with successful test programs on both 3-D-printable and refractory cements. We are working with a number of groups in the space industry who are using our anorthosite as a lunar simulant and we expect this sector to grow as lunar programs ramp-up. We look forward to maximizing the synergies between our companies and working with Greenland Mines as a strategic shareholder as we advance our lunar materials, smelter grade alumina and high-purity alumina programs."

Bo Moller Stensgaard, president of Greenland Mines, commented:

"In June we said this investment was about moving into the mid-stream of the critical-materials value chain. Since then, it has become clear that Anortech's anorthosite is also relevant to a value chain that is about to grow significantly -- the industrial supply chain of the Moon. The lunar highlands, where future space missions are planned to land, are comprised largely of anorthosite. Every landing pad, habitat wall, radiation shield and tonne of aluminum that will one day be produced from lunar regolith starts with the same rock Anortech is developing at Gronne Bjerg.

"Doubling our position gives Greenland Mines shareholders exposure to zero-waste smelter grade alumina and high-purity alumina on Earth and to the materials science of building the Moon with the Moon itself. Aluminum is designated as a critical metal in the United States and Canada, and Anortech's alumina could support both the aluminum smelters in the United States and semiconductor manufacturers who require high-purity alumina. Greenland's strategic importance to the United States and its allies was underscored by the security agreement signed by the United States, Denmark and Greenland on Sept. 22, 2026; we believe Anortech's anorthosite is strategically important a great deal further from home too."

Transaction terms

The option to increase Greenland Mines' ownership of Anortech to 19.9 per cent was granted under the share exchange agreement between Greenland Mines and Anortech dated June 15, 2026, and announced on June 16, 2026. Under that agreement, Greenland Mines acquired its initial 19,958,503 Anortech shares, and Anortech announced completion of that transaction on June 30, 2026. On closing, Greenland Mines will hold 45,127,172 Anortech shares representing approximately 19.9 per cent of Anortech's issued and outstanding share capital. The 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 period as to one-half of the Greenland Mines shares for 12 months from closing and a contractual lock-up period as to the remaining one-half of the Greenland Mines shares for 24 months from closing. Anortech currently owns 318,000 shares of Greenland Mines from previous transactions (see NR2026-04 and NR2026-06).

Closing 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.

About Greenland Mines Ltd.

Greenland Mines is a Nasdaq-listed resource development and mining company focused on the development of the Skaergaard project in southeast Greenland and the Sarfartoq neodymium-praseodymium rare-earths project in southwest Greenland. Greenland Mines' strategy is centred on building a multiasset platform with exposure to rare-earth magnet materials, precious metals and select mid-stream processing opportunities, while advancing its assets and broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure. Greenland Mines has working capital of approximately $100-million.

About Anortech Inc.

Anortech is pioneering the next generation of sustainable materials from anorthosite with over 12 years experience in developing anorthosite products and 25 years experience exploring, building and operating projects in Greenland. The company owns 100 per cent of the Gronne Bjerg anorthosite project in Greenland which is strategically located just 80 kilometres northeast of Nuuk, the capital of Greenland, on open tidewater, a deep-water port location and adjacent to significant hydroelectric potential.

Anortech is advancing multiple product lines toward 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 United States provisional patent in 2025 to protect its proprietary sustainable SGA and HPA process (see NR2025-01), 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 over $3-million in working capital.

We seek Safe Harbor.