Mr. Ruben Shiffman reports

GREENLAND RESOURCES PROVIDES UPDATE

Greenland Resources Inc. has provided an update on its continuing progress on the Malmbjerg molybdenum project. The company expects 2024 to be an important year in the conclusion of capex (capital expenditures) and permitting. Highlights:

• The company continues to have positive discussions with potential strategic partners and will provide an update in due course.
• The company will attend the BMO Global Metals, Mining & Critical Minerals Conference, Feb. 25 to Feb. 28, 2024, in Hollywood, Fla., aiming to discuss with investors the independent due diligence reports produced on behalf of investors. Investors include those that provided the company letters of intent for capex financing.
• The company has been addressing favourable regulatory comments related to the permitting on the previously submitted environmental impact assessment and expects further significant progress in Q1 2024.
• The company was invited to discuss the project in a high-level round table at the PDAC on March 3, 2024, together with the minister of mines of Greenland and the director general for internal markets of the European Commission.
• Following the company's press release dated June 7, 2023, the company and the Canadian civil construction company Nuna Group of Companies are in discussions with Greenlandic construction companies to assist in the development of the Malmbjerg molybdenum project.
• Management continues to purchase shares of the company's common stock in the open market, which reinforces the confidence in the company's commitment to its long-term success.

Greenland Resources Inc.

Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100-per-cent-owned world-class climax-type pure molybdenum deposit located in central-eastern Greenland. The Malmbjerg molybdenum project is an open pit operation with an environmentally friendly mine design focused on reduced water usage, low aquatic disturbance and low footprint due to modularized infrastructure. The Malmbjerg project benefits from a National Instrument 43-101 definitive feasibility study completed by Tetra Tech in 2022, with proven and probable reserves of 245 million tonnes at 0.176 per cent molybdenum disulphide, for 571 million pounds of contained molybdenum metal. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years 1 to 10 is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23 per cent MoS2, approximately 25 per cent of EU total yearly consumption. The project had a previous exploitation licence granted in 2009.

With offices in Toronto, the company is led by a management team with an extensive record in the mining industry and capital markets.

The project is supported by the European Raw Materials Alliance (ERMA) as stated in its press release Sept. 23, 2023, a Knowledge and Innovation Community of the European Institute of Innovation and Technology (EIT), a body of the European Union.

We seek Safe Harbor.