Greenland Government Approves Transfer of Final 50.5% of Tanbreez, Taking Critical Metals Corp. to 92.5% Ownership
NEW YORK, April 17, 2026 (GLOBE NEWSWIRE) -- Critical Metals Corp. (NASDAQ:CRML) ("Critical Metals Corp." or the "Company"), a leading critical mineral mining company, today announced that the Government of Greenland has approved the transfer of the remaining 50.5% interest in the Tanbreez Mining Greenland A/S to Critical Metals Corp., bringing the Company's total ownership to 92.5%, bringing the Company's total ownership to 92.5% and solidifying its position as the controlling stakeholder in one of the world's largest rare earth deposits.
Highlights
- Greenland Government approves transfer of the final 50.5% interest in Tanbreez Mining Greenland A/S (Tanbreez) to Critical Metals Corp (CRML), bringing total CRML ownership to 92.5%
- European Lithium Ltd (EUR) retains a 7.5% interest in Tanbreez as well as 37.5% of CRML
- CRML, together with EUR, will hold full control of the Tanbreez project — one of the world's largest known deposits of heavy rare earth elements (HREE's)
Post-Transfer Ownership Structure of Tanbreez
| Shareholder | Interest | |
| Critical Metals Corp. (NASDAQ:CRML) | 92.5% | |
| European Lithium Ltd (ASX: EUR) | 7.5% | |
Overview
The Government of Greenland's approval of this transfer represents the most significant ownership milestone in the history of the Tanbreez project. With 92.5% of the project now vested in Critical Metals Corp., the Company has full operational and strategic authority over what is widely regarded as one of the most important undeveloped rare earth resources in the Western world. The remaining 7.5% is retained by EUR.
Tanbreez is situated in Southern Greenland and is endowed with all eight critical heavy rare earth elements (HREEs) required for defence, clean energy, and advanced technology applications. Its location provides year-round direct shipping access via deep water fjords to the North Atlantic Ocean, offering a significant logistical advantage over many competing projects. This government approval removes one of the final structural barriers to the project's development and substantially de-risks CRML's path to production.
The transfer approval comes at a critical inflection point for the global critical minerals sector. Western governments and industry are urgently seeking secure, non-Chinese sources of rare earth supply. With near-total ownership of Tanbreez now secured, CRML is uniquely positioned to become a cornerstone supplier of HREEs to the United States, Europe, and allied nations.
Tony Sage, Chairman of CRML, commented:
"This is a game-changing moment for Critical Metals Corp. and for Western rare earth supply security. Securing 92.5% ownership of Tanbreez — with the full support and approval of the Greenlandic Government — removes the most significant structural overhang on the project and provides the clarity to advance Tanbreez to production with confidence."
"We are now progressing with momentum, supported by advancing technical programs, strong metallurgical results, and engagement with our offtake partners. Tanbreez is no longer a future project — it is a project in development."
Building on a Series of Major Milestones
Today's announcement builds on a series of significant developments across all workstreams of the Tanbreez project:
- Metallurgical breakthrough (March 2026): Independent testing at Fremantle Metallurgy confirmed a ~40% improvement in refined concentrate grade, achieving 2.96% TREO. These results exceed historical 2016 results and support the need for an updated PEA flowsheet, which is currently being progressed.
- 60° North Greenland acquisition (March 2026): CRML entered into an agreement to acquire a majority interest in 60° North Greenland ApS, a Greenlandic-based construction, exploration, and logistics company, strengthening local operational capacity and infrastructure support for Tanbreez.
- Advisory Board expansion (March 2026): Appointment of Chang Oh Turkmani, an internationally recognised trade attorney and infrastructure investor with over thirty years of cross-border commodity and energy experience, to the CRML Advisory Board.
- $30 million acceleration program (March 2026): Board-approved program to fast-track drilling, infrastructure, engineering, and metallurgical activities. Key objectives include resource expansion from 45Mt to ~130Mt, a 6,000m drilling campaign, and pilot plant feed generation. Target timelines include first ore production late 2028 to early 2029, with concentrate export targeted for Q3 2029.
- $120M EXIM Bank Letter of Intent: Has been secured to support development and financing initiatives.
- Strategic offtake engagement: Ongoing discussions with supply chain partners in the United States (including REALLOYS and UCORE), Europe, and Saudi Arabia. Offtake partners will each receive a minimum of 10 tonnes of high-grade pre-production eudialyte concentrate.
- Pilot plant program: Pilot plant operations are scheduled to commence in May 2026, with a 150-tonne bulk sample program planned for June 2026 representing a key development milestone.
- New international airport: A new international airport located 12 km from the Tanbreez site is expected to significantly enhance logistics efficiency for personnel, equipment, and supply chains.
Strategic Significance
The race to secure Western-aligned critical mineral supply chains has never been more urgent. Heavy rare earth elements — including dysprosium, terbium, holmium, erbium, and yttrium — are irreplaceable inputs in permanent magnets, defence systems, electric vehicle motors and advanced manufacturing. China currently dominates global HREE production and processing, creating acute supply chain vulnerability for the United States and its allies.
Tanbreez's unique geology, exceptional metallurgical results, strategic location, and now near-total ownership by a Nasdaq-listed Western company positions CRML as one of the most credible and advanced HREE development stories globally. The Greenlandic Government's approval of this transfer further validates the project's strategic importance and reflects positively on CRML's in-country relationships.
With the ownership structure now resolved, the Company will direct its full focus and resources on accelerating the development of Tanbreez, including drilling, pilot plant operations, bulk sampling, and progression of a revised Preliminary Economic Assessment, in line with its stated production timeline.
ABOUT CRITICAL METALS CORP.
Critical Metals Corp (NASDAQ:CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next-generation technologies for Europe and its Western world partners. Its flagship Project, Tanbreez, is one of the world's largest, rare-earth deposits and is located in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean.
Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic critical metals portfolio. With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, the clean energy transition, and next-generation technologies in the western world.
For more information, please visit https://www.criticalmetalscorp.com/.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements may include expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target," "designed to" or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the "Risk Factors" section in the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this news release, and expectations, forecasts and assumptions as of that date, involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Critical Metals Corp.
Investor Relations: ir@criticalmetalscorp.com
Media: pr@criticalmetalscorp.com
