Greenland Resources Awarded 2023 Prospector and Developer of the Year

6 March 2024

Greenland Resources Inc. is pleased to announce that the Company has been awarded the 2023 Prospector and Developer of the Year for the Malmbjerg Molybdenum Project in east Greenland (the Project). The award is given to companies that demonstrate initiative, innovation, and alignment with Greenland environmental and social responsibility practice.

The award was presented to the Company by Ms. Naaja H. Nathanielsen, Greenland Minister of Business, Trade, Mineral Resources, Justice and Gender Equality at the Prospectors and Developers Association of Canada (PDAC) 2024 Convention, the premier global mineral exploration and mining event held in Toronto, Canada.

Minister Nathanielsen said: “Last November, in Brussels the Government of Greenland signed an MOU with the European Union (EU). The MOU’s intention is to catalyze investment in Greenland and secure sustainable raw materials value chains. Molybdenum plays an important role in the EU green energy transition and the award-winning Malmbjerg Molybdenum Project is a good example of the secure value chain from Greenland to the EU and is supported by the European Raw Materials Alliance.”

Chairman Dr. Ruben Shiffman said, “We are honoured to receive this prestigious award recognizing our years of hard work and commitment. The Project is ad hoc for the EU-Greenland strategic partnership on sustainable raw materials. Can supply a quarter of the EU consumption from a responsible source and received strong interest for long term offtakes from the EU metallurgical steel and chemical industries. The EU remains the second largest user of molybdenum worldwide and despite having a very large processing capacity and leading the world on the production of specialty products that require molybdenum, has no molybdenum extraction. The Project will respect the environment, benefit the local communities and has the potential to make a significant economic contribution to the Country and the EU Green Deal.”