2026 Fieldwork Underway at Eleonore North

HIGHLIGHTS

• Active exploration underway at the Eleonore North Project, located in East Greenland. The field team are following up high-priority gold, tungsten, and antimony targets, including known prospects and newly generated targets.
• A Reduced Intrusion-related Gold System specialist will evaluate the Noa Pluton prospect as well as untested targets.
• Bulk sampling of tungsten and antimony-mineralised material at North and South Margeries deposits is expected to support scoping study level metallurgical sighter test work.
• Archive core from North and South Margeries deposits was sampled prior to fieldwork commencing and is currently being assayed, with results expected in the coming months.

GreenX Metals Limited (ASX:GRX, LSE:GRX, GPW:GRX, Germany-FSE:A3C9JR) (GreenX or the Company) is pleased to announce that fieldwork has commenced at its Eleonore North project in East Greenland (Eleonore North or Project). The exploration program is targeting gold (Au), tungsten (W), and antimony (Sb).

GreenX's Chief Executive Officer, Mr Ben Stoikovich, commented: "Greenland is an exciting frontier for GreenX, and this program advances a portfolio of gold, tungsten and antimony targets that has seen very little modern exploration.

Tungsten and antimony are critical raw materials for both the European Union and the United States, and Eleonore North gives us high-grade occurrences of both in a stable Western jurisdiction at a time when supply is heavily concentrated in China. Importantly, the tungsten and antimony mineralisation has a surface expression, which allows us to make rapid progress in expanding the known mineralisation and generating additional targets.

This year we are in the field to advance our existing prospects, including the Noa Pluton gold-antimony target and the North and South Margeries deposits. At the same time, our growing understanding of intrusion-related gold systems in the region has enabled us to identify a number of new targets.''

Photo 1: Helicopter view of southern Ymer Island en route to Eleonore North.

Photo 2: Field team at South Margeries (W).

Photo 3: Vein mineralisation at North Margeries (Sb-W). In relation to the disclosure of visual information and rock chip descriptions, the Company cautions that the images displayed are for general illustrative purposes only, and that the samples displayed, and visual methods of any visible mineral identification and estimation of mineral abundance should not be considered as a proxy for laboratory analysis, and that laboratory analysis is required to determine the grades of the rock chip samples. Visual information also potentially provides no information regarding impurities or deleterious physical properties relevant to valuations. The rock chip samples are point samples (typically 5-15cm in diameter) taken in the field and do not represent true trends or widths of mineralisation. The Company will update the market when the laboratory samples are received.

Summer Work PROGRAM

Fieldwork at the Eleonore North Project this year covers multiple objectives. At Noa Pluton, a Reduced Intrusion-related Gold System (RIRGS) specialist will conduct mapping and sampling to evaluate antimony and intrusion-related gold potential, and identify potential drill targets. At both North (Sb-W) and South Margeries (W), the team will collect 50 kg to 100 kg bulk samples of mineralised material for scoping study level sighter test work. Recent hyperspectral analysis and prospectivity mapping have also highlighted alteration anomalies along strike and adjacent to both deposits (refer to announcement dated 14 May 2026). These untested hyperspectral anomalies have the potential to be satellite discoveries.

The field team will also visit newly generated RIRGS targets in the broader region for reconnaissance style prospecting, as approved by the Greenland Mineral Resource Authority.

Figure 1: Summer fieldwork is taking place at the Eleonore North licence package on Ymer Island, East Greenland.

Next Steps

North and South Margeries

Rock samples collected during the program will be sent for multi-element analysis while bulk material will undergo metallurgical sighter test work. This test work is designed to provide scoping study level insights into the metallurgy and processing characteristics. Extensional and infill drilling could be warranted if the sighter test work is positive, particularly if the hyperspectral anomalies previously identified along strike are confirmed as antimony and tungsten mineralisation.

All results are expected in the coming months.

Noa Pluton

Results from Noa Pluton will be evaluated by our RIRGS specialist with additional gold and antimony sampling to form the basis for follow-up exploration programs, including the potential to identify drill targets for future field seasons.