Summary

Energy Transition Minerals Ltd's wholly-owned subsidiary Greenland Minerals A/S ("GM") initiated arbitration in March 2022 against the Governments of Greenland and Denmark under the arbitration agreement contained in GM's exploration licence. This was because the Government of Greenland had informed GM in December 2021 that, because of the then-new Uranium Act, the Government of Greenland did not recognize any right of GM to an exploitation licence for the Kvanefjeld (Kuannersuit) Project in Greenland. An oral hearing of the Arbitration Tribunal ("Tribunal") was held on 25 June 2025 in Copenhagen concerning the issue of whether the Tribunal has jurisdiction (legal competence) to decide on GM's right to an exploitation licence and the related issues like damages. On 28 October 2025, the Tribunal rendered its decision on jurisdiction in the ongoing arbitration. This procedural milestone marks a significant step toward resolving the case.

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