Greenland Mines Ltd (NASDAQ:GRML) ("Greenland Mines" or the "Company"), a Western-aligned critical minerals developer, today announced that the Company has released an independent Initial Assessment ("IA") on the Sarfartoq Nd-Pr Rare Earth Element Project in southwest Greenland, a carbonatite-hosted, neodymium-praseodymium-rich rare earth deposit held under Greenland Exploration License MEL 2020-32.

The Sarfartoq Project is expected, under a high case, to have a pre-tax Net Present Value (NPV 8% real discount rate) of approximately up to US$2.05 billion at an IRR 118.6% including Indicated and Inferred Mineral Resources and up to US$1.49 billion at an IRR 92.7% including the Indicated but excluding Inferred Mineral Resources.