Amaroq Minerals Ltd.

Amaroq Minerals Ltd., an independent mining company with significant gold and strategic mineral assets in Southern Greenland, has engaged Arion Bank to provide market-making services for its Icelandic depositary receipts listed on Nasdaq Iceland. The agreement, effective from January 24, 2025, requires Arion Bank to post daily buy and sell quotes with a bid-ask spread close to 1.50%. This arrangement does not include performance factors or compensation in the form of shares or options. Additionally, a previous market-making agreement with Fossar Investment Bank remains in effect. Amaroq's main business focus is on exploring and developing gold and strategic metal properties in South Greenland, including the Nalunaq Gold mine.

Amaroq Minerals Ltd., a mining development company, has been awarded the Johan Dahl Land licence in South Greenland, expanding its presence in the South Greenland Copper Belt. The company reported promising initial exploration results, including gold grades up to 12.3 g/t and copper grades reaching 5.1%. The newly acquired licence is part of Amaroq's Gardaq Joint Venture and enhances its portfolio in a region noted for copper-gold mineralization potential. Amaroq plans to integrate these findings into its 2025 exploration strategy and aims to work closely with Greenland's government and communities for responsible mineral resource development. The company is focused on exploring and developing gold and strategic metal properties in Southern Greenland, with its principal asset being the Nalunaq Gold mine.

Amaroq Minerals Ltd., a mining company with significant gold and mineral assets in Southern Greenland, has appointed Edward Westropp as Head of Business Development and Corporate Affairs, effective March 24, 2025. Westropp brings over 20 years of experience in mining and natural resources, having previously held roles at WE Soda Ltd. and Lundin Energy SA. Amaroq CEO Eldur Olafsson expressed enthusiasm for Westropp's appointment, highlighting the company's growth opportunities with the start of commercial production at the Nalunaq mine in Greenland. Westropp stated that it is an exciting time to join Amaroq, as the company is well-positioned for growth in Europe. Amaroq Minerals focuses on exploring and developing gold and strategic metal properties in Southern Greenland, including the Nalunaq Gold mine and other exploration projects.

Amaroq Minerals Ltd., a mine development company in Southern Greenland, has successfully closed a US$35 million revolving credit facility with Landsbankinn, enhancing its debt structure and financial flexibility. The financing package includes three facilities, with Facility A refinancing existing credit and Facilities B and C supporting working capital and corporate purposes. The package involves fees and is secured by various pledges and agreements, with a termination date of December 2026. Additionally, Amaroq is working with the Government of Greenland and Kommune Kujalleq on an Impact Benefit Agreement (IBA), though its formalization has been delayed, potentially extending to June 2025. This delay will not affect the planned ramp-up of the Nalunaq project. Amaroq remains committed to its strategic growth and stakeholder value.

Reykjavík, December 20, 2024 (GLOBE NEWSWIRE) - A TR-1 standard form has been issued to notify about major holdings.

Amaroq Minerals Ltd., an independent mining company with gold and strategic mineral assets in Southern Greenland, announced the granting of an award to its employees under its Restricted Share Unit (RSU) Plan. This plan, developed with PwC's input, was approved by shareholders and amended in 2022, 2023, and 2024. Details are available on the company's website. Amaroq's main business involves the exploration and development of gold and strategic metal properties, including the Nalunaq Gold mine and other projects in Southern Greenland. The announcement also includes contact information for key personnel and financial advisors but does not contain inside information.

Reykjavík, December 18, 2024 (GLOBE NEWSWIRE) - TR-1 is a standard form used for notifying major holdings.

Amaroq Minerals Ltd., an independent mining company with significant gold and strategic mineral assets in Southern Greenland, announced that following the exercise of 10,000 share options by an employee, the company's issued share capital now consists of 397,702,330 common shares with voting rights as of December 17, 2024. Since the company holds no shares in treasury, this figure will be used by shareholders to determine if they need to notify any changes in their shareholding. Amaroq Minerals focuses on the exploration and development of gold and strategic metal properties in South Greenland, including a 100% interest in the Nalunaq Gold mine and other exploration projects.

Amaroq Minerals Ltd., an independent mining company with assets in Southern Greenland, announced the completion of its fundraising efforts, raising approximately £27.5 million through various share placements in the UK, Iceland, and Canada. The funds will be used to enhance the company's working capital, support resource drilling at Nalunaq, explore potential at Nanoq, invest in mining equipment, and advance its strategic portfolio. Directors Eldur Olafsson, Sigurbjorn Thorkelsson, and David Neuhauser participated in the fundraising through the Canadian Subscription. The fundraising involved placing 32,034,664 new common shares, increasing Amaroq's total issued share capital to 397,694,407 common shares. The shares will be subject to resale restrictions in Canada for four months and one day. Panmure Liberum, Canaccord, Landsbankinn, Acro, and Fossar acted as joint bookrunners, with Landsbankinn also serving as underwriter. The fundraising is subject to final acceptance by the TSX-V.

Amaroq Minerals Ltd. announced a delay in the closure of its fundraising process due to a delay in funds from one subscriber. The settlement and admission of 32,034,664 common shares related to the UK Placing, Icelandic Placing, and Canadian Subscription are now expected to occur on December 17, 2024. The announcement does not constitute an offer or invitation to buy or sell securities and is not intended for distribution in certain jurisdictions, including the United States, Australia, Japan, and South Africa. It includes forward-looking statements subject to risks and uncertainties.