REG - 80 Mile PLC - GLND Appoints Rod McIllree as Managing Director

RNS Number : 8786K 80 Mile PLC 03 July 2026  

03 July 2026

GLND Appoints Rod McIllree as Managing Director

80 Mile PLC ('80 Mile' or the 'Company'), the AIM, FSE, and OTC listed exploration and development company with projects in Greenland, Finland and Italy, would like to advise that Roderick McIllree, Executive Director of 80 Mile, has been appointed Managing Director of Greenland Energy Company NASDAQ:GLND, the Company's joint venture partner for the Jameson Land Basin Project ("Jameson"), with immediate effect.

80 Mile plc would also like to clalrify that its subsidiary, White Flame Energy A/S, as the 100% holder of the Jameson Land Basin exploration licences, is solely responsible for all aspects of assessment, permitting and regulatory engagement with the Government of Greenland, Kommuneqarfik Sermersooq, and other relevant authorities. All field activities, Environmental Impact Assessments (EIA), Social Impact Assessments (SIA), and any permit to drill are all subject to approval by the Greenland Government.

Mr. McIllree will oversee Greenland Energy Company's day-to-day activities in Greenland, with a primary focus on permitting, regulatory engagement and stakeholder relations in support of the planned exploration programme at Jameson. He will lead interactions with Greenlandic authorities and local stakeholders, including the ensuring that the Environmental Impact Assessment, Social Impact Assessment, Field Activities Application and drilling permit processes are all done in accordance with and respect for Greenland regulations.

Under a farm-in arrangement, Greenland Energy Company a company listed on the NASDAQ stock exchange in New York has the obligation to drill two exploration wells of approximately 3,500 metres each to earn a 50% interest in the project upon completion of the first well and an additional 20% interest upon completion of the second well. The total expected cost of this drilling campaign is US$70m (DKK 550,000,000).

80 Mile and its leadership team have been active in Greenland for over a decade, with key executives bringing more than 20 years of direct experience working on resource projects in the country. Throughout this time operating as responsible corporate citizen, building constructive and respectful relationships with regulators, local communities, and stakeholders across all of Greenland. As such we remain fully committed to conducting all activities to the highest environmental and safety standards and to working collaboratively with the people and institutions of Greenland in the future.

The appoinment strengthens the framework regarding roles and responsibilities between the joint venture partners as preparations continue for the next phase of development at Jameson Land, including the planned drilling programme in 2026.

Mr McIllree's role as an Executive Director at 80 Mile remains unchanged and will focus on finalising the permits for drilling at Jameson on behalf of the joint venture partners.

For further information please visit http://www.80mile.com or contact:

About 80 Mile PLC

80 Mile Plc is listed on London's AIM market under the ticker 80M, the Frankfurt Stock Exchange under the symbol S5WA, and traded on the U.S. OTC Market under the ticker BLLYF. 80M is an exploration and development company focused on Hydrocarbons and High-Grade Critical Metal projects in Greenland and an industrial gas and biofuels business in Italy. 80 Mile offers both portfolio and commodity diversification focused on hydrocarbons, base and precious metals, while expanding into sustainable fuels and clean energy solutions in Tier 1 jurisdictions. 80 Mile's strategy is centred on advancing key projects while creating value through partnerships and strategic acquisitions.

80 Mile's Jameson Project covers 8,429km2 across three licences in East Greenland and represents one of the world's largest remaining untapped gas and liquids-rich basins. An independent 2025 assessment by Sproule ERCE estimated the basin contains 13.03 billion barrels (P10) of recoverable oil, with 80 Mile's retained interest equating to 3.9 billion barrels. In 2025, a milestone agreement with March GL (to be renamed Greenland Energy Co, NASDAQ: GLND) enabled plans for two fully funded 3,500-metre drill holes in the second half of 2026, after which GLND will earn a 70% interest in the Jameson Project, leaving 80 Mile with 30%.

The Disko-Nuussuaq Project, located in West Greenland, covering a district-scale 3,020km2 area. Disko is recognised as a world-class geological setting for copper, nickel, cobalt and PGEs, with potential for a Tier-1 nickel-copper discovery analogous to Siberia's Norilsk Nickel District. The project features multiple walk-up drill targets and which includes seven large, high-priority geophysical anomalies. In late 2025, the company entered into a JV agreement with USFM Corporation under which USFM will fund US$30 million in drilling-related expenditure, including US$10 million in spring/summer 2026, to accelerate drilling and resource definition at Disko. The funding structure will allow 80 Mile to retain operational leadership during the project's critical early stages.

The Dundas Project, located on Greenland's northwest coast, is recognised by independent bodies as the world's highest-grade ilmenite project and the second- largest titanium occurrence globally after Russia. The area hosts high-purity ilmenite, the primary mineral for titanium. Dundas has a JORC-compliant Mineral Resource of 117 million tonnes at 6.1% ilmenite, with further upside highlighted by a late-2024 maiden exploration target of up to 540 million tonnes of additional ilmenite-bearing material. A recent survey by Geological Survey of Denmark and Greenland further impresses on the prospectivity of the area with an estimate of up to 17 billion tonnes (non-JORC) of pure ilmenite within the broader province. With a completed bankable feasibility study and all exploitation permits in place, the project is positioned as a major near-term revenue opportunity for 80 Mile as the company seeks development partners.

80 Mile, through 100% ownership of Hydrogen Valley Ltd, is advancing the Greenswitch Ferrandina Plant in Basilicata, Italy. This fully integrated chemical facility is undergoing final maintenance to commence production of biofuels and Sustainable Aviation Fuel (SAF). Strategically located near the Port of Taranto and within a Special Economic Zone (SEZ), the plant is poised to contribute significantly to Europe's energy transition by producing up to 50,000 tonnes of biodiesel annually, with future plans for green hydrogen production. The facility's advanced infrastructure and strategic location underscore 80 Mile's commitment to sustainable energy solutions and regional economic development.

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