Greenland Mines Ltd ("Greenland Mines" or the "Company") (NASDAQ:GRML) today announced that it has strengthened its collaboration with Reykjanes Investment ("RI") regarding the Helguvík industrial area on the Reykjanes Peninsula in southwest Iceland, through the signing of a First Right of Refusal over the c. 60,000 m² brownfield Helguvik industrial site (the lot named "Stakkksbraut 9") that includes approximately 10,000 m² of existing industrial buildings and infrastructure, and access to up to 40 MW of power.

Under the updated Letter of Intent ("LoI"), Greenland Mines and Reykjanes Investment will continue to jointly explore the establishment of industrial and mineral‑processing activities related to the Company's Skaergaard Project at, or in connection with, the Helguvík industrial area, including the emerging eco‑industrial park in the Helguvík‑Bergvík area.