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Greenland Resources Announces Updated Concept Study Results for Its Malmbjerg Molybdenum Project

Greenland Resources Inc. announce some of the results from a new Concept Study conducted by DRA Americas Inc. Canada that was prepared using the independent pit constrained Mineral Resource estimate produced by RPA Inc. of Toronto, press released in November 23, 2018. The Company believes that the new results are very encouraging and will constitute the basis for discussions with selected potential partners.

The updated Concept study was prepared by the following independent engineering firms and further optimizes engineering and costs from previous reports like our concept study press released on July 30, 2018 and the Wardrop 2008 Malmbjerg project feasibility study .

Supported by

DRA – Process and plant site infrastructure; Tailings, water management and financial analysis

Moose Mountain Technical Services, Cranbrook BC – Mine design and mining infrastructure

Patterson and Cook, Denver, Colorado – Hydraulic ore transportation

Hardrock Hickey and Associates, Nevada – Tunnel

Roscoe Postle Associates Inc., Toronto – Mineral Resource Estimate

All consultants – Capital and operating cost estimates

Updated Concept Study

The preferred Malmbjerg project development option continues to comprise an open pit, a hydraulic ore transportation tunnel and an innovated concept where all the ore processing infrastructure and support structures will be constructed offshore on barges and transported to the project site. The proposed mine development configuration includes:

A surface gyratory crusher and SAG mill grinding complex is located on the eastern segment of the open pit

A 450-micron grind product transported by gravity in an enclosed concrete pipeline, installed in a 5.5 km tunnel followed by a 20 km surface route to the concentrator located to the north at Mestersvig inlet

The tunnel with dimensions measuring 6m by 6m developed by conventional drilling and blasting operations provides access to the mine for all personnel, consumables, mobile equipment parts, and includes conduits for electrical and communications systems, diesel fuel, and the hydraulic ore transportation (concrete pipe flume)

Concentrator, concentrate loadout, powerplant, warehouse & maintenance shops and administration / accommodation complex are all constructed in an overseas shipyard on shallow draft vessels and installed permanently at the Mestersvig inlet

Concentrator tailings pipeline is 25 km long and discharges tailings to a naturally protected subaqueous tailings management facility.

Source: globenewswire

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