Pensana (OTC Pink:PNSPF) reported on Tuesday (December 9) that it has concluded a US$100 million subscription with a strategic investor.

According to the London-listed company the deal underpins its braoder Mine-to-Magnet strategy in the United States.

While the company kept the investor anonymous, it revealed that the investor subscribed for 95 million new ordinary shares of £0.001 each. Alongside the strategic investment, Pensana will issue 2.85 million new ordinary shares to institutional investors.

Priced at £0.80 per share, the placement totals US$3 million.

Chairman Paul Atherley said that the funds will be used to maintain the Longonjo mine development ahead of the US ban on use of Chinese-origin rare earth magnets/materials in U.S. weapon systems from 2027.

“(It will also be used) to provide an alternative source for civilian use of NdPr following the announced 25 percent tariff on rare earths from China starting in 2026.”

The company is also advancing co-products such as heavy rare earth oxides, with funds set to contribute to its planned Nasdaq listing in 2026.

Longonjo is located adjacent to the Lobito rail Corridor, approximately 60 kilometres west of the provincial capital of Huambo in central Angola.

Once operational, the mine could become one of the world’s largest producers of light and heavy rare earths, supporting output of more than 10,000 tonnes of permanent magnets annually.

Construction at the project is progressing, backed by major shareholder FSDEA, Angola’s Sovereign Wealth Fund. FSDEA has already advanced the balance of a US$25 million facility.

Pensana expects Longonjo to begin production in 2027, with an expected output of around 20,000 tonnes per annum of clean high-value (mixed rare earth carbonate).

It will also produce over 430 high-value processing jobs, with Pensana pledging that “more than half” of these jobs will be given to young people.

The project is set to create more jobs once it reaches Phase 2 production, estimated at 2,400 direct and indirect jobs.

Phase 2 operations are expected to produce 5 percent of the world’s magnet metal rare earths over a 20-year mine life.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

(TheNewswire)

Further to Pinnacle news release of February 24, 2025 , a Finder’s Fee of 4% of the measurable benefit of each installment payment will be paid to Juan Jose Camacho, who is arm’s length to the issuer and the vendor, corresponding to the payment schedule outlined in the Definitive Agreement (the ‘DA’ ), in accordance with TSXV Policy 5.1.  In total, the Exchange has conditionally approved the issuance of 191,580 Finder’s Fee shares.  Up to US$298,000 in total cash payments may also be made to the Finder according to the following schedule and conditions.

The initial Finder’s Fee installment was made on February 24, 2025 and comprised 71,580 shares at a deemed value of $0.05.  A second share issuance of 40,000 shares, at a deemed value of $0.11, and cash payment of US$8,000 will now be made.  A third installment, comprising 40,000 shares and US$30,000, will be due on February 24, 2026. Assuming the option agreement continues, US$40,000 will be payable when the plant is sufficiently upgraded and all permits received in order to commence production, or 4 years from signing the DA, whatever happens first; US$60,000 one year after commencing production or 5 years from signing the DA, whatever happens first; and US$120,000 two years after commencing production or 7 years from signing the DA, whatever happens first.  A contingency issuance of 40,000 shares and payment of US$40,000 may be made at an undetermined time, upon Pinnacle establishing a Mineral Resource Estimate, as defined by National Instrument 43-101, of at least 350,000 gold equivalent ounces in the Inferred category or better.

About the Potrero Property

El Potrero is located in the prolific Sierra Madre Occidental of western Mexico and lies within 35 kilometres of four operating mines, including the 4,000 tonnes per day (tpd) Ciénega Mine (Fresnillo), the 1,000 tpd Tahuehueto Mine (Luca Mining) and the 250 tpd Topia Mine (Guanajuato Silver).

High-grade gold-silver mineralization occurs in a low sulphidation epithermal breccia vein system hosted within andesites of the Lower Volcanic Series and has three historic mines along a 500 metre strike length.  The property has been in private hands for almost 40 years and has never been systematically explored by modern methods, leaving significant exploration potential.

A previously operational 100 tpd plant on site can be refurbished / rebuilt and historic underground mine workings rehabilitated at relatively low cost in order to achieve near-term production once permits are in place. The property is road accessible with a power line within three kilometres.

Pinnacle will earn an initial 50% interest immediately upon commencing production.  The goal would then be to generate sufficient cash flow with which to further develop the project and increase the Company’s ownership to 100% subject to a 2% NSR.  If successful, this approach would be less dilutive for shareholders than relying on the equity markets to finance the growth of the Company.

About Pinnacle Silver and Gold Corp.

Pinnacle is focused on the development of precious metals projects in the Americas.  The high-grade Potrero gold-silver project in Mexico’s Sierra Madre Belt hosts an underexplored low-sulphidation epithermal vein system and provides the potential for near-term production . In the prolific Red Lake District of northwestern Ontario, the Company owns a 100% interest in the past-producing, high-grade Argosy Gold Mine and the adjacent North Birch Project with an eight-kilometre-long target horizon . With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long -term , sustainable value for shareholders.

Signed: ‘Robert A. Archer’

President & CEO

For further information contact :

Email: info@pinnaclesilverandgold.com

Tel.:  +1 (877) 271-5886 ext. 110

Website: www.pinnaclesilverandgold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

Blencowe Resources Plc is pleased to announce the signing of an additional non-binding Memorandum of Understanding (‘MOU’) for natural medium flake concentrate offtake from its Orom-Cross Graphite Project. The offtake agreement is with Yunasko Ltd. (‘Yunasko’), an advanced technology company headquartered in London and Kyiv, and a recognised leader in energy storage and ultracapacitor technologies used across next generation industrial and defence applications.

This new MOU follows recent Blencowe senior management engagements in the United States and Europe and reflects the strong response to ongoing successful test work confirming the consistently high-quality of product from Orom-Cross graphite.

Highlights:

• Non-binding five-year MOU with Yunasko for five years to supply of an initial 500 tonnes per annum of purified medium flake graphite.
• Yunasko is a leading innovator in advanced supercapacitor energy systems serving high-specification energy storage and defence markets.
• Pricing to be agreed under a formal binding agreement within 24 months.
• Blencowe continues to progress positive discussions with multiple OEMs and strategic downstream users engaged during recent US and European marketing initiatives.

The Yunasko MOU covers a niche, high-value component of the Company’s medium flake (+100 mesh) graphite output during the first five years of production. Yunasko’s initial 500 tonnes per annum requirement is anticipated to increase as the commercial relationship matures.

The product will be further upgraded in Chicago, USA by Blencowe’s US technology partner, American Energy Technology Co. (‘AETC’), enabling Yunasko to purchase a premium-grade materials.

Blencowe is also advancing discussions in the United States with additional OEMs and leading downstream processors for both large flake products and smaller flake categories. Several Groups are currently undertaking qualification test work on Orom-Cross material, and the Company anticipates further MOUs to be concluded as these programmes advance. Market engagement remains strong, and the Company is progressing discussions with additional potential offtakers worldwide as it builds toward a diversified suite of sales agreements ahead of first production.

Executive Chairman Cameron Pearce commented:

‘We are pleased to add a further high-quality European offtaker to our growing portfolio particularly one operating at the forefront of energy storage innovation. Supercapacitor applications require exceptionally consistent, high-grade material and Orom-Cross, supported by AETC’s purification capabilities, is ideally suited to meet this demand.’

‘Our graphite is currently undergoing evaluation with a broad range of international end users, and we remain confident of additional offtake agreements following as these programmes progress. Purified material attracts significantly higher pricing than standard concentrates and these higher value customers provide both market credibility and a meaningful uplift on our weighted average selling price.’

Yunasko Executive Chairman Yurii Maletin commented:

‘We are pleased to be working with Blencowe Resources to receive high-quality purified graphite from Orom-Cross natural resource for integration into Yunasko’s next-generation energy storage systems. Our testing, together with American Energy Technology Co.’s purification and downstream processing work, confirms that Orom-Cross provides material of particularly high suitability for these advanced applications.

Yunasko, a leader in high-power ultracapacitor and hybrid energy storage technologies, is driving meaningful innovation in the global energy storage market by delivering faster-charging, longer-life and higher-efficiency solutions. The use of premium purified graphite will further strengthen Yunasko’s ability to develop cutting-edge systems, and we look forward to a long and productive relationship as Blencowe moves towards first production.’

For further information please contact:

Twitter https://twitter.com/BlencoweRes

LinkedIn https://www.linkedin.com/company/72382491/admin/

Background

Orom-Cross Graphite Project

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger flakes within the deposit.

A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit and Blencowe has moved into the Definitive Feasibility Study phase as it drives towards first production.

Orom-Cross presents as a large, shallow open-pitable deposit, with a maiden JORC Indicated & Inferred Mineral Resource deposit of 24.5Mt @ 6.0% Total Graphite Content. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.

Yunasko Ltd

Yunasko is a leading developer of high-power energy storage technologies, operating in the United Kingdom and Ukraine. The company specializes in advanced ultracapacitors and hybrid systems that combine the advantages of ultracapacitors with lithium-ion batteries. Yunasko’s proprietary technologies are built around exceptionally low internal resistance, enabling very high power density, minimal heat generation, extended cycle life, and enhanced operational safety.

Yunasko’s performance advantages have been validated by numerous international partners and independent experts, including PSA Group (France), JME Inc., Wayne State University, a U.S. Department of Defense Tier 1 supplier, and MOOG (USA). The company continues to advance next-generation high-power modules for automotive, industrial, grid, and defense applications, positioning itself at the forefront of the rapidly evolving global energy storage market.

American Energy Technologies Company (AETC)

AETC is a woman-owned, privately held business which conducts operations out of the greater Chicago area. In its Wheeling, IL facility, AETC operates three business units: a manufacturing plant making battery-ready graphite and carbon materials, a pilot demonstration facility for battery materials and graphite dispersions, and a fully functional applications laboratory supporting the above business units. Currently, AETC is one of only three organizations which commercially manufacture lithium-ion battery-ready graphite in the United States. Furthermore, AETC’s Wheeling, IL plant is currently the only industrial end-to-end commercial manufacturer of spherical purified surface coated natural graphite in the US. In doing so, the company develops and operates an upstream ore beneficiation, unique refining, particle spheroidization, and carbon coating technologies. AETC is both developing and producing spherical graphite (natural and synthetic), expanded graphite, partially graphitized nanostructured carbons, ultra-high purity graphite-based electrically conductive inks, paints, and coatings which find use within the industry. AETC is a proud supply chain member of electric vehicles and an approved supplier to twelve battery manufacturers and one fuel cell producer. For more information you can visit: https://www.usaenergytech.com/news

Source

Blencowe Resources Plc is pleased to announce the signing of an additional non-binding Memorandum of Understanding (‘MOU’) for natural medium flake concentrate offtake from its Orom-Cross Graphite Project. The offtake agreement is with Yunasko Ltd. (‘Yunasko’), an advanced technology company headquartered in London and Kyiv, and a recognised leader in energy storage and ultracapacitor technologies used across next generation industrial and defence applications.

This new MOU follows recent Blencowe senior management engagements in the United States and Europe and reflects the strong response to ongoing successful test work confirming the consistently high-quality of product from Orom-Cross graphite.

Highlights:

• Non-binding five-year MOU with Yunasko for five years to supply of an initial 500 tonnes per annum of purified medium flake graphite.
• Yunasko is a leading innovator in advanced supercapacitor energy systems serving high-specification energy storage and defence markets.
• Pricing to be agreed under a formal binding agreement within 24 months.
• Blencowe continues to progress positive discussions with multiple OEMs and strategic downstream users engaged during recent US and European marketing initiatives.

The Yunasko MOU covers a niche, high-value component of the Company’s medium flake (+100 mesh) graphite output during the first five years of production. Yunasko’s initial 500 tonnes per annum requirement is anticipated to increase as the commercial relationship matures.

The product will be further upgraded in Chicago, USA by Blencowe’s US technology partner, American Energy Technology Co. (‘AETC’), enabling Yunasko to purchase a premium-grade materials.

Blencowe is also advancing discussions in the United States with additional OEMs and leading downstream processors for both large flake products and smaller flake categories. Several Groups are currently undertaking qualification test work on Orom-Cross material, and the Company anticipates further MOUs to be concluded as these programmes advance. Market engagement remains strong, and the Company is progressing discussions with additional potential offtakers worldwide as it builds toward a diversified suite of sales agreements ahead of first production.

Executive Chairman Cameron Pearce commented:

‘We are pleased to add a further high-quality European offtaker to our growing portfolio particularly one operating at the forefront of energy storage innovation. Supercapacitor applications require exceptionally consistent, high-grade material and Orom-Cross, supported by AETC’s purification capabilities, is ideally suited to meet this demand.’

‘Our graphite is currently undergoing evaluation with a broad range of international end users, and we remain confident of additional offtake agreements following as these programmes progress. Purified material attracts significantly higher pricing than standard concentrates and these higher value customers provide both market credibility and a meaningful uplift on our weighted average selling price.’

Yunasko Executive Chairman Yurii Maletin commented:

‘We are pleased to be working with Blencowe Resources to receive high-quality purified graphite from Orom-Cross natural resource for integration into Yunasko’s next-generation energy storage systems. Our testing, together with American Energy Technology Co.’s purification and downstream processing work, confirms that Orom-Cross provides material of particularly high suitability for these advanced applications.

Yunasko, a leader in high-power ultracapacitor and hybrid energy storage technologies, is driving meaningful innovation in the global energy storage market by delivering faster-charging, longer-life and higher-efficiency solutions. The use of premium purified graphite will further strengthen Yunasko’s ability to develop cutting-edge systems, and we look forward to a long and productive relationship as Blencowe moves towards first production.’

For further information please contact:

Twitter https://twitter.com/BlencoweRes

LinkedIn https://www.linkedin.com/company/72382491/admin/

Background

Orom-Cross Graphite Project

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger flakes within the deposit.

A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit and Blencowe has moved into the Definitive Feasibility Study phase as it drives towards first production.

Orom-Cross presents as a large, shallow open-pitable deposit, with a maiden JORC Indicated & Inferred Mineral Resource deposit of 24.5Mt @ 6.0% Total Graphite Content. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.

Yunasko Ltd

Yunasko is a leading developer of high-power energy storage technologies, operating in the United Kingdom and Ukraine. The company specializes in advanced ultracapacitors and hybrid systems that combine the advantages of ultracapacitors with lithium-ion batteries. Yunasko’s proprietary technologies are built around exceptionally low internal resistance, enabling very high power density, minimal heat generation, extended cycle life, and enhanced operational safety.

Yunasko’s performance advantages have been validated by numerous international partners and independent experts, including PSA Group (France), JME Inc., Wayne State University, a U.S. Department of Defense Tier 1 supplier, and MOOG (USA). The company continues to advance next-generation high-power modules for automotive, industrial, grid, and defense applications, positioning itself at the forefront of the rapidly evolving global energy storage market.

American Energy Technologies Company (AETC)

AETC is a woman-owned, privately held business which conducts operations out of the greater Chicago area. In its Wheeling, IL facility, AETC operates three business units: a manufacturing plant making battery-ready graphite and carbon materials, a pilot demonstration facility for battery materials and graphite dispersions, and a fully functional applications laboratory supporting the above business units. Currently, AETC is one of only three organizations which commercially manufacture lithium-ion battery-ready graphite in the United States. Furthermore, AETC’s Wheeling, IL plant is currently the only industrial end-to-end commercial manufacturer of spherical purified surface coated natural graphite in the US. In doing so, the company develops and operates an upstream ore beneficiation, unique refining, particle spheroidization, and carbon coating technologies. AETC is both developing and producing spherical graphite (natural and synthetic), expanded graphite, partially graphitized nanostructured carbons, ultra-high purity graphite-based electrically conductive inks, paints, and coatings which find use within the industry. AETC is a proud supply chain member of electric vehicles and an approved supplier to twelve battery manufacturers and one fuel cell producer. For more information you can visit: https://www.usaenergytech.com/news

Source

Blencowe Resources Plc is pleased to announce the signing of an additional non-binding Memorandum of Understanding (‘MOU’) for natural medium flake concentrate offtake from its Orom-Cross Graphite Project. The offtake agreement is with Yunasko Ltd. (‘Yunasko’), an advanced technology company headquartered in London and Kyiv, and a recognised leader in energy storage and ultracapacitor technologies used across next generation industrial and defence applications.

This new MOU follows recent Blencowe senior management engagements in the United States and Europe and reflects the strong response to ongoing successful test work confirming the consistently high-quality of product from Orom-Cross graphite.

Highlights:

• Non-binding five-year MOU with Yunasko for five years to supply of an initial 500 tonnes per annum of purified medium flake graphite.
• Yunasko is a leading innovator in advanced supercapacitor energy systems serving high-specification energy storage and defence markets.
• Pricing to be agreed under a formal binding agreement within 24 months.
• Blencowe continues to progress positive discussions with multiple OEMs and strategic downstream users engaged during recent US and European marketing initiatives.

The Yunasko MOU covers a niche, high-value component of the Company’s medium flake (+100 mesh) graphite output during the first five years of production. Yunasko’s initial 500 tonnes per annum requirement is anticipated to increase as the commercial relationship matures.

The product will be further upgraded in Chicago, USA by Blencowe’s US technology partner, American Energy Technology Co. (‘AETC’), enabling Yunasko to purchase a premium-grade materials.

Blencowe is also advancing discussions in the United States with additional OEMs and leading downstream processors for both large flake products and smaller flake categories. Several Groups are currently undertaking qualification test work on Orom-Cross material, and the Company anticipates further MOUs to be concluded as these programmes advance. Market engagement remains strong, and the Company is progressing discussions with additional potential offtakers worldwide as it builds toward a diversified suite of sales agreements ahead of first production.

Executive Chairman Cameron Pearce commented:

‘We are pleased to add a further high-quality European offtaker to our growing portfolio particularly one operating at the forefront of energy storage innovation. Supercapacitor applications require exceptionally consistent, high-grade material and Orom-Cross, supported by AETC’s purification capabilities, is ideally suited to meet this demand.’

‘Our graphite is currently undergoing evaluation with a broad range of international end users, and we remain confident of additional offtake agreements following as these programmes progress. Purified material attracts significantly higher pricing than standard concentrates and these higher value customers provide both market credibility and a meaningful uplift on our weighted average selling price.’

Yunasko Executive Chairman Yurii Maletin commented:

‘We are pleased to be working with Blencowe Resources to receive high-quality purified graphite from Orom-Cross natural resource for integration into Yunasko’s next-generation energy storage systems. Our testing, together with American Energy Technology Co.’s purification and downstream processing work, confirms that Orom-Cross provides material of particularly high suitability for these advanced applications.

Yunasko, a leader in high-power ultracapacitor and hybrid energy storage technologies, is driving meaningful innovation in the global energy storage market by delivering faster-charging, longer-life and higher-efficiency solutions. The use of premium purified graphite will further strengthen Yunasko’s ability to develop cutting-edge systems, and we look forward to a long and productive relationship as Blencowe moves towards first production.’

For further information please contact:

Twitter https://twitter.com/BlencoweRes

LinkedIn https://www.linkedin.com/company/72382491/admin/

Background

Orom-Cross Graphite Project

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger flakes within the deposit.

A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit and Blencowe has moved into the Definitive Feasibility Study phase as it drives towards first production.

Orom-Cross presents as a large, shallow open-pitable deposit, with a maiden JORC Indicated & Inferred Mineral Resource deposit of 24.5Mt @ 6.0% Total Graphite Content. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.

Yunasko Ltd

Yunasko is a leading developer of high-power energy storage technologies, operating in the United Kingdom and Ukraine. The company specializes in advanced ultracapacitors and hybrid systems that combine the advantages of ultracapacitors with lithium-ion batteries. Yunasko’s proprietary technologies are built around exceptionally low internal resistance, enabling very high power density, minimal heat generation, extended cycle life, and enhanced operational safety.

Yunasko’s performance advantages have been validated by numerous international partners and independent experts, including PSA Group (France), JME Inc., Wayne State University, a U.S. Department of Defense Tier 1 supplier, and MOOG (USA). The company continues to advance next-generation high-power modules for automotive, industrial, grid, and defense applications, positioning itself at the forefront of the rapidly evolving global energy storage market.

American Energy Technologies Company (AETC)

AETC is a woman-owned, privately held business which conducts operations out of the greater Chicago area. In its Wheeling, IL facility, AETC operates three business units: a manufacturing plant making battery-ready graphite and carbon materials, a pilot demonstration facility for battery materials and graphite dispersions, and a fully functional applications laboratory supporting the above business units. Currently, AETC is one of only three organizations which commercially manufacture lithium-ion battery-ready graphite in the United States. Furthermore, AETC’s Wheeling, IL plant is currently the only industrial end-to-end commercial manufacturer of spherical purified surface coated natural graphite in the US. In doing so, the company develops and operates an upstream ore beneficiation, unique refining, particle spheroidization, and carbon coating technologies. AETC is both developing and producing spherical graphite (natural and synthetic), expanded graphite, partially graphitized nanostructured carbons, ultra-high purity graphite-based electrically conductive inks, paints, and coatings which find use within the industry. AETC is a proud supply chain member of electric vehicles and an approved supplier to twelve battery manufacturers and one fuel cell producer. For more information you can visit: https://www.usaenergytech.com/news

Source

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is delighted to announce that the Government of Greenland has granted an Exploitation Licence for the Amitsoq Graphite Project to Greenland Graphite a/s (‘Greenland Graphite’), a wholly owned, Greenland registered subsidiary of GreenRoc.

On 8 December 2025, the Minister of Business, Mineral Resources, Energy, Justice and Gender Equality Naaja H. Nathanielsen, together with Stefan Bernstein, Director of Greenland Graphite, signed a 30-year exploitation permit for graphite at Piiaaffik Amitsoq, the placename for the Amitsoq graphite deposit. This follows the Government of Greenland’s approval, on 4 December 2025, of the Amitsoq project Terms of Reference and associated White Paper.

The Minister of Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, said at the signing ceremony:

‘Greenland Graphite’s exploitation licence is the third exploitation licence granted by the Government of Greenland this year. This is a very positive record and it is particularly worth noting that the process from submitted application to issued exploitation licence has only taken 1 year and 3 months. This is significantly faster than in many other countries and clearly demonstrates that the revised Mining Act is working as intended. The aim was to streamline the procedure without compromising high environmental standards, safety and social responsibility. Today’s exploitation licence is the result of focused political efforts to make Greenland more attractive for responsible investments, while seriously taking into account the concerns for people and the environment.’

CEO of GreenRoc, Stefan Bernstein, said at the signing ceremony:

‘It is a great pleasure for me today, on behalf of our Company, to confirm the grant of the Exploitation Licence for graphite at Amitsoq. This is a very important milestone for GreenRoc on the road to making graphite production in Greenland a reality again, 100 years after the closure of the Amitsoq mine.

‘Graphite is an important raw material for the energy transition and Europe lacks secure access to it. At Amitsoq, we have proven graphite ore for many decades of operation. At the same time, we are very aware that extraction from Amitsoq must benefit Greenland, and especially the communities in South Greenland, and we look forward to listening to and cooperating with the citizens of South Greenland along the way.

‘It is gratifying that the Government of Greenland is contributing to making Greenland an attractive place to invest in raw materials projects. In a world where political approval of a mining project can drag on for decades, Greenland really stands out, without compromising on environmental and social requirements, and this Exploitation Licence is an excellent expression of that.’

Minister of Industry, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, and GreenRoc’s CEO Stefan Bernstein at the signing ceremony in Nuuk

Next steps

Greenland Graphite a/s has chosen that its project terms of reference should be submitted for public consultation only, without the project descriptions for Environmental Impact Assessment (EIA Report) and Social Impact Assessment (SIA Report). The Exploitation Licence is the political approval of the mining project at Amitsoq. Before construction and mining activities can commence, an Impact Benefit Agreement and Mine- and Closure Plan must be approved.

Greenland Graphite is in the process of preparing the project descriptions for the EIA report and SIA report. Following the approval of the EIA and SIA reports by the Government of Greenland, Greenland Graphite will have until 31 December 2028 to submit a mining and decommissioning plan and must commence mining activities by 31 December 2030, unless otherwise approved.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

For further information, please contact:

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company’s or any third party’s ability to execute and implement future plans, and the occurrence of unexpected events.

Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

About GreenRoc

GreenRoc Strategic Materials Plc is an AIM-quoted UK public company focused on developing the Amitsoq Graphite Project in Greenland into a producing mine to meet critical demand from Electric Vehicle (‘EV’) manufacturers in Europe and North America for new, high grade and conflict-free sources of graphite. Amitsoq is one of the highest-grade graphite deposits in the world with a combined Measured, Indicated and Inferred JORC Resource of 23.05 million tonnes (Mt) at an average grade of 20.41% graphite, sufficient to sustain several decades of mining.

The plans for the Amitsoq Project include the construction of a facility to further process the mined graphite into active anode material – an indispensable component of Li-batteries – which plans have independently and positively evaluated to prefeasibility study stage.

GreenRoc has entered into a partnership with the Norwegian battery manufacturer Morrow Batteries to establish a regional supply chain. The Amitsoq Project has been designated a Strategic Project by the EU and in March 2025 it was also ESG-certified by Digbee, an independent platform which provides sustainability assessments for the mining industry. In October 2025, GreenRoc signed a binding secured loan facility for EUR 5.2 million from the Export and Investment Fund of Denmark (‘EIFO‘), for the financing of the Company’s work programme.

Source

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is delighted to announce that the Government of Greenland has granted an Exploitation Licence for the Amitsoq Graphite Project to Greenland Graphite a/s (‘Greenland Graphite’), a wholly owned, Greenland registered subsidiary of GreenRoc.

On 8 December 2025, the Minister of Business, Mineral Resources, Energy, Justice and Gender Equality Naaja H. Nathanielsen, together with Stefan Bernstein, Director of Greenland Graphite, signed a 30-year exploitation permit for graphite at Piiaaffik Amitsoq, the placename for the Amitsoq graphite deposit. This follows the Government of Greenland’s approval, on 4 December 2025, of the Amitsoq project Terms of Reference and associated White Paper.

The Minister of Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, said at the signing ceremony:

‘Greenland Graphite’s exploitation licence is the third exploitation licence granted by the Government of Greenland this year. This is a very positive record and it is particularly worth noting that the process from submitted application to issued exploitation licence has only taken 1 year and 3 months. This is significantly faster than in many other countries and clearly demonstrates that the revised Mining Act is working as intended. The aim was to streamline the procedure without compromising high environmental standards, safety and social responsibility. Today’s exploitation licence is the result of focused political efforts to make Greenland more attractive for responsible investments, while seriously taking into account the concerns for people and the environment.’

CEO of GreenRoc, Stefan Bernstein, said at the signing ceremony:

‘It is a great pleasure for me today, on behalf of our Company, to confirm the grant of the Exploitation Licence for graphite at Amitsoq. This is a very important milestone for GreenRoc on the road to making graphite production in Greenland a reality again, 100 years after the closure of the Amitsoq mine.

‘Graphite is an important raw material for the energy transition and Europe lacks secure access to it. At Amitsoq, we have proven graphite ore for many decades of operation. At the same time, we are very aware that extraction from Amitsoq must benefit Greenland, and especially the communities in South Greenland, and we look forward to listening to and cooperating with the citizens of South Greenland along the way.

‘It is gratifying that the Government of Greenland is contributing to making Greenland an attractive place to invest in raw materials projects. In a world where political approval of a mining project can drag on for decades, Greenland really stands out, without compromising on environmental and social requirements, and this Exploitation Licence is an excellent expression of that.’

Minister of Industry, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, and GreenRoc’s CEO Stefan Bernstein at the signing ceremony in Nuuk

Next steps

Greenland Graphite a/s has chosen that its project terms of reference should be submitted for public consultation only, without the project descriptions for Environmental Impact Assessment (EIA Report) and Social Impact Assessment (SIA Report). The Exploitation Licence is the political approval of the mining project at Amitsoq. Before construction and mining activities can commence, an Impact Benefit Agreement and Mine- and Closure Plan must be approved.

Greenland Graphite is in the process of preparing the project descriptions for the EIA report and SIA report. Following the approval of the EIA and SIA reports by the Government of Greenland, Greenland Graphite will have until 31 December 2028 to submit a mining and decommissioning plan and must commence mining activities by 31 December 2030, unless otherwise approved.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

For further information, please contact:

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company’s or any third party’s ability to execute and implement future plans, and the occurrence of unexpected events.

Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

About GreenRoc

GreenRoc Strategic Materials Plc is an AIM-quoted UK public company focused on developing the Amitsoq Graphite Project in Greenland into a producing mine to meet critical demand from Electric Vehicle (‘EV’) manufacturers in Europe and North America for new, high grade and conflict-free sources of graphite. Amitsoq is one of the highest-grade graphite deposits in the world with a combined Measured, Indicated and Inferred JORC Resource of 23.05 million tonnes (Mt) at an average grade of 20.41% graphite, sufficient to sustain several decades of mining.

The plans for the Amitsoq Project include the construction of a facility to further process the mined graphite into active anode material – an indispensable component of Li-batteries – which plans have independently and positively evaluated to prefeasibility study stage.

GreenRoc has entered into a partnership with the Norwegian battery manufacturer Morrow Batteries to establish a regional supply chain. The Amitsoq Project has been designated a Strategic Project by the EU and in March 2025 it was also ESG-certified by Digbee, an independent platform which provides sustainability assessments for the mining industry. In October 2025, GreenRoc signed a binding secured loan facility for EUR 5.2 million from the Export and Investment Fund of Denmark (‘EIFO‘), for the financing of the Company’s work programme.

Source