• Greenland Mines will acquire Neo North Star Resources, owner of the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland, through a merger with a newly formed subsidiary.
• Total consideration at closing is USD 35 million, split between USD 20 million in cash and USD 15 million in newly issued Greenland Mines common shares.
• Neo Performance Materials will become a strategic shareholder, securing offtake rights for up to 60% of future Sarfartoq ore or mineral concentrate production.
• Sarfartoq’s historic ST1 zone resource includes 5.88 million tonnes indicated at 1.77% total rare earth oxides, 2.46 million tonnes inferred at 1.59%.
• The deal adds a second Greenland development asset alongside Skaergaard, positioning Greenland Mines with exposure to magnet rare earths supply tied to Neo’s separation and permanent magnet platform.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Greenland Mines Ltd. published the original content used to generate this news brief on May 21, 2026, and is solely responsible for the information contained therein.