Greenland Resources Updates Environmental and Social Impact Assessments for the Malmbjerg Molybdneum Project

TORONTO, Aug. 02, 2019 (GLOBE NEWSWIRE) — Greenland Resources Inc. (“Greenland Resources” or the “Company”) is pleased to announce that it has engaged Golder Associates A/S in Denmark in cooperation with Inuplan A/S in Greenland, to update the Environmental Impact Assessment (“EIA”) and Social Impact Assessment (“SIA”) for its 100% owned Malmbjerg Molybdenum project in Greenland (”the Project”). The EIA work will be led by Lars Brünner, MSc., Kristian Bloch Grube, PhD and the SIA by Niels Strufe, BSc., MA. The Company expects that a considerable amount of the extensive previous environmental and social baseline data will be applicable for the submission that aims to obtain a new exploitation permit. The Project is a Climax-type molybdenum mineral deposit located close to tidewater near Mestersvig airport in central-east Greenland, with pit-constrained Measured and Indicated Resources of 247.1 million tonnes at 0.180% MoS2, for 587 million pounds of contained molybdenum metal (RPA, 2018). The Project benefits from a 2008 Feasibility Study completed by Wardrop (now Tetra Tech), an Environmental and Social Impact Assessment (SRK, 2007) and had an exploitation permit granted in 2009. The EIA will include baseline studies in vegetation and wildlife as well as the collection of sediment, water, and organism samples for chemical analysis in and around Mestersvig airport, consistent with the north transport route proposed in the Company’s news release dated December 20, 2018 that optimizes the south transport route used in the 2008 Feasibility Study. The monitoring area of the EIA overlaps to a great extent with the area of the formerly producing Blyklippen Lead-Zinc Mine, located some 22 km from the Project, and benefits from extensive environmental monitoring data conducted by the Danish Centre for Environment and Energy from 2005-2017. The SIA will include scoping documents, monitoring and development plan that will be used in public consultations and meetings in Nuuk and with the only nearby settlement in Ittoqqortoormiit, 190km SE of the Project. The Company also wishes to announce that Mr. Edward A. Kirwan has joined Greenland Resources as internal environmental advisor. Edward holds a degree in Environmental Science from Northern Arizona University and has worked in the mining industry for over 30 years specialized in environmental and community relations. Among others, he held senior environmental positions in Tahoe Resources, Silver Standard, Pan American Silver, Coeur d’Alene Mines and was the VP Environmental for Quadra FNX and for KGHM Polska after KGHM acquired Quadra for $2.9 billion, both companies were the previous owners of the Malmbjerg Molybdenum project in Greenland. Mr. Jim Steel, P.Geo., M.B.A., a Qualified Person under National Instrument 43-101 has reviewed and approved the technical information in this press release. About Greenland Resources Inc. Greenland Resources is a Canadian reporting issuer regulated by the Ontario Securities Commission, focused on the acquisition, exploration and development of mineral properties in Greenland. The flagship project is the Malmbjerg Molybdenum deposit, a world class Climax-type molybdenum deposit located in east-central Greenland. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site (www.greenlandresources.ca) as well as our Canadian regulatory filings on Greenland Resources’ profile at www.sedar.com. For further information please contact: Ruben Shiffman, PhD Executive Chairman, PresidentKeith Minty, P.Eng, MBA Engineering and Project ManagementJim Steel, P.Geo, MBA Exploration and Mining GeologyNauja Bianco, MA Public RelationsCorporate office Suite 612, 390 Bay St. Toronto, Ontario, Canada M5H 2A4Telephone  +1 647 273 9913Web www.greenlandresources.ca CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements regarding the estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, the availability of financing, the timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates including the costs of operations in remote mountainous environments, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.