Sighting of drill rig by SRK Geologists

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, announces that drilling has commenced at the Company's Disko-Nuussuaq nickel-copper-cobalt-PGE project in West Greenland ("Disko" or the "Project"), marking the start of the 2026 exploration campaign.

Overview

• Two drill rigs are now operating on site
• Initially targeting high-priority zones at Qullissat, on Disko Island
• Up to 9,000 metres of drilling planned during the 2026 field season following recent expansion of the programme
• Drill programme will take place across multiple targets on both Disko Island and the Nuussuaq Peninsula
• Fully funded exploration campaign forms part of the US$30 million earn-in agreement with USFM Corporation
• 80 Mile retains a 49% free carried position while managing the exploration work

Roderick McIllree, Executive Director, commented: 
"The commencement of drilling marks another important milestone for the Disko Project and follows months of planning, permitting and successful mobilisation. With two drill rigs now operating and an expanded 9,000-metre programme underway, we are entering what we believe will be a highly significant exploration season.

"This programme is designed to systematically test some of the highest-priority nickel-copper-PGE targets identified across the Project and represents the first systematic drilling campaign to be undertaken at Disko. We look forward to updating shareholders as drilling advances and results are received."

The 2026 programme represents the first systematic drilling campaign undertaken at the Project and follows the expansion of the planned programme from approximately 5,000 metres to 9,000 metres. The increased scope reflects the quality and number of priority targets generated through the integration of historical exploration data with modern geophysical interpretation.

The drilling programme will initially target high-priority zones at Qullissat, on Disko Island, where large-scale-high-tenor geophysical and coincident geochemical anomalies have been identified, before moving to the mainland later in the season. The programme will take place across multiple targets on both Disko Island and the Nuussuaq Peninsula.

The Disko Project, which covers approximately 3,020 square kilometres in West Greenland, is recognised as one of the world's most prospective frontier districts for magmatic nickel-copper sulphide exploration. Geological characteristics identified across the licence package are considered analogous to globally significant magmatic sulphide systems and have generated a pipeline of compelling drill-ready targets.

About the Disko-Nuussuaq Project

Located on the south-west coast of Greenland, Disko has shown its potential to host mineralisation similar to the nickel/copper sulphide mine Norilsk-Talnakh located in northern Russia. Seven significant Magmatic Massive Sulphide ("MMS") targets have been identified to-date at the licence area, with the largest being confirmed now at 5.9 kilometres ("km") long by 1.1km wide. A 28 tonne ("t") boulder of pure massive sulphides assayed 6.9% nickel, 3.7% copper, 0.6% cobalt and 2 grammes per tonne platinum group metals has also been discovered on the licence area. This boulder is on display at the Danish Geological Museum in Copenhagen. A 28t boulder of metal rich massive sulphides clearly demonstrates the significant potential of the project.

A surface sampling programme undertaken by the company confirmed the existence of a working sulphide system at Disko, initial results returned averaged between 4.6%-9.3% nickel & 1.5-2.8% copper.

Fresh samples taken from outcrops confirmed characteristics indicative of large-scale Ni-Cu-Co-PGE sulphide segregation and coarse grained inter-locking crystals of metal sulphides were observed in hand specimens with an average crystal size of +15cm indicating that the significant accumulation / precipitation times required for formation of large-scale MMS deposits has occurred. 

The Disko and Nuussuaq Project comprises six MELs covering a total area of 3,015 square kilometres located on Disko Island and the Nuussuaq Peninsula in Central West Greenland. The project area is located approximately 120 kilometres northwest of Ilulissat, Greenland's third-largest city, which serves as the educational, commercial, and administrative hub of Central West Greenland, with a population of 4,700. Ilulissat is well-equipped with essential infrastructure including an airport, deep-water port facilities, and various service providers. Notably, a new international airport is currently under construction and is anticipated to be operational by the end of 2025. Since 2016, 80M has maintained a logistical base in Ilulissat, facilities designed to support its operations at Disko-Nuussuaq projects. Additionally, the Nikkeli operates a modular exploration camp for up to 40 personnel situated at the abandoned coal mining town of Qullissat on Disko Island. The Disko-Nuussuaq Project is hosted within the West Greenland Flood Basalt Province ('WGFBP'). The WGFBP is associated with the initial phase of continental breakup and the onset of seafloor spreading of the Labrador Sea during the early Paleogene. This province serves as a recognized geological analogue to the Siberian Flood Basalts of the Noril'sk Region of Siberia. This analogy was first recognised by Cominco (now Teck) and provided the exploration framework that has guided subsequent exploration efforts.

KeyFacts Energy: 80 Mile Greenland country profile