Greenland Minerals and Energy Reports Greenland Repeals Zero-Tolerance Uranium Policy

Greenland Minerals and Energy

is pleased to advise that on Thursday 24th October, Greenland's parliament voted in favour of removing a long-standing zero-tolerance policy concerning uranium and other radioactive elements ("the zero-tolerance policy"). This landmark decision represents a significant moment for Greenland, as it places Greenland on the path to uranium-producer status, and thereby opens up coincident resources of rare earth elements to exploitation. The removal of the zero-tolerance policy is in alignment with Greenland's broader intent to develop mining projects as a core to its future economic prosperity. A key underlying reason for Greenland to address and repeal the zero-tolerance policy is that abundant resources of uranium occur in Greenland's south, resources which are also strongly enriched in rare earth elements. These resources are hosted within the northern Ilimaussaq Complex and form the basis of GMEL's 100%-owned Kvanefjeld project (rare earth elements, uranium, zinc). The global resource base (JORC-code compliant) established for Kvanefjeld contains 575Mlb's U3O8, and 10.3Mt of rare earth oxide (REO); a resource of genuine global significance, particularly in consideration that less than 20% of the project area has been subjected to drilling