Greenland Resources Inc. Phase I Drilling Update and QA/QC Sampling Results from the Storo Gold Project

TORONTO, ONTARIO -- (Marketwired - April 28, 2015) - Greenland Resources Inc. ("Greenland Resources" or the "Company") is pleased to provide an update on the recently completed Phase I drilling program and QA/QC sampling results at the Storø Gold Project (the "Project") in Greenland.

During the months of March and April 2015, the Company concluded the Phase I step-out drilling program of thirteen diamond drill holes totalling 1,757 metres. The goal was to trace the down-plunge continuation of the Main Zone mineralization from Qingaaq Mtn, and to the northeast below the valley floor. Starting at the north-easterly defined limit of mineralization, drilling was done from four step-outs, at 20, 60, 110 and 160 metres. Core logging showed intersections of quartz-carbonate veins and stringers, with garnet-sulphide alteration, in amphibolite gneiss host rock, consistent with the Main Zone mineralization from historic drilling, from drill holes in each of the four step-outs. Samples have been sent to ALS Sweden for analysis, and results will be released when received.

During the month of December, 2014 and consistent with the recommendations of the Company's NI 43-101 dated July 30, 2014, Greenland Resources resampled 210 samples constituting 5.5% of the already sampled intervals of 10,758 metres of historical core. In addition, 47 samples were duplicated, 11 blanks were inserted into the sample stream, and 11 Certified Reference Materials were used to check assay lab accuracy.

Jesper Kofoed, President said, "we are very pleased to have concluded the Phase I drilling program and are looking forward to the results in the next couple of months. In addition, we now know that the results from the QA/QC samples validate the results of the historical drilling."

In total, the mineralized intersections from some 42 drill holes were resampled in entirety, rather than selected individual samples selected from among the distribution of all the assays. The principal limitation to QA/QC sampling is that the Government of Greenland requires a minimum of a quarter-core left in the core box for archive purposes - as such, some of the more spectacular intersections where coarse visible gold was noted in the logs did not have enough core left over for resampling.

Due to the coarse character of the gold grains and consequent nugget effect, ALS Sweden determined the gold values by 1 kg screen fire assay (50g nominal sample weight). Sample pulp was passed through a 100 micron stainless steel screen. Any material remaining on the screen (>100 micron) was retained and analyzed by fire assay with gravimetric finish and reported as the Au (+) fraction. The material passing through the screen (<100 micron) was homogenized and two sub-samples were analyzed by fire assay with AAS finish. The average of the two AAS results is taken and reported as the Au (-) fraction result. The gold values for both the (+) 100 and (-) 100 micron fractions are reported together with the weight of each fraction as well as the calculated total gold content of the sample.

Overall, the samples when treated individually returned a correlation of 56.8% between original assays and Greenland Resources QA/QC resampling. The table below shows the correlation for specific grade populations:

Value     Assay Results in g/t Gold    No. of   Correlation
Rang            From         To       Samples         % 	
Low            0.002      0.099         38         11.50%
Medium          0.01       0.99         70          6.40%
High            1.00       9.99         91         65.00%
Very high      10.00                    11           n/a

Table: Sample correlation based on population grade intervals.

For the 0.002 g/t to 0.099 g/t population, the correlation is lower than expected because the lower limit of resampling was 0.05 g/t and that of the original sample database was 0.002 g/t

For the 0.100 g/t to 0.999 g/t, the overall correlation of 6.4% was skewed by sample 164155, which returned a QA/QC value of 14.155 g/t from an original grade of 0.198 g/t and sample 164041, which returned a resampling value of 4.270 g/t from an original value of 0.388 g/t. If these two samples were excluded, the correlation would be 58.5%.

For the 1.00 g/t to 9.99 g/t population, the correlation between QA/QC resampling and original values was 65.5%, with 61 samples returning lower grades than the original samples and 30 samples returning higher grades than the original samples. For samples that grade in excess of 10.0 g/t, there was no correlation, mainly due to the nugget effect. Out of 11 samples, only one returned QA/QC values greater than the original value.

The 47 duplicates that were inserted into the sample stream had a correlation of 84.7%, indicating the assay process is valid. In addition, the 11 blanks that were inserted as a group returned <0.1 g/t; and the 11 Certified Reference Materials CDN-GS4E returned values that were all within average values plus or minus the standard variation reported by CDN Resource Laboratories Ltd. Langley, BC.

In addition, the Company wishes to announce that it has issued 2,500,000 options to officers, directors and consultants at a price of 20 cents per share for a period of five years from the date of issuance.

The scientific and technical information contained in this press release has been reviewed by Jim Steel, MBA P.Geo., who is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").


CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding the estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, the availability of financing, the timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates including the costs of operations in remote mountainous environments, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.



Contact

Greenland Resources Inc.
Ruben Shiffman, Chairman
+1 647 273 9913

Greenland Resources Inc.
Jesper Kofoed, President & CEO
+1 647 273 9913

Greenland Resources Inc.
Dennis Waddington, CFO
+1 647 273 9913

Greenland Resources Inc.
Gary Anstey
Investor Relations / Business Development
+1 647 273 9913

Greenland Resources Inc.
Corporate office
Suite 507, 80 Richmond St. West,
Toronto, Ontario, Canada M5H 2A4
www.greenlandresources.ca