NEWS RELEASE  22 July 2026

2026 FIELDWORK UNDERWAY AT ELEONORE NORTH

TARGETING GOLD, TUNGSTEN AND ANTIMONY MINERALISATION

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.

·     Tungsten and antimony are both listed as critical raw materials by the European Union and the United States, with global supply heavily concentrated in China; the Eleonore North Project hosts high-grade occurrences of both in a stable Western jurisdiction.

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.''

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.

ENQUIRIES

Forward Looking Statements

This release may include forward-looking statements, which may be identified by words such as "expects", "anticipates", "believes", "projects", "plans", and similar expressions. These forward-looking statements are based on GreenX's expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of GreenX, which could cause actual results to differ materially from such statements. There can be no assurance that forward-looking statements will prove to be correct. GreenX makes no undertaking to subsequently update or revise the forward-looking statements made in this release, to reflect the circumstances or events after the date of that release.

Competent Persons Statement

The information in this report that relates to previous exploration results were extracted from the ASX announcements dated 15 July 2024 and 27 November 2024, which are available to view at www.greenxmetals.com. GreenX confirms that (a) it is not aware of any new information or data that materially affects the information included in the original announcements; (b) all material assumptions and technical parameters underpinning the content in the relevant announcements continue to apply and have not materially changed; and (c) the form and context in which the Competent Person's findings are presented have not been materially modified from the original announcements.