Amaroq Minerals Ltd.

Environmental & Social Information • Nov 13, 2023

("Amaroq Minerals" or the "Company")

Amaroq announces strengthening of sustainability approach through partnership with ERM

TORONTO, ONTARIO – November 13, 2023 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mine development company with the substantial land package of gold and strategic mineral assets in Greenland, is announcing that further work is underway to strengthen its approach to sustainability in support of its purpose to create a Greenlandic legacy.

The Company has appointed ERM International Group Limited ("ERM"), one of world's largest advisory firm focused solely on sustainability, to conduct a strategic review of its approach to sustainability management and performance.

ERM partners with clients to operationalise sustainability at pace and scale, through a unique combination of strategic transformation and technical delivery capabilities. Its global team of experts works with the world's leading organizations to help them set clear sustainability targets, measure progress and operationalise strategy through deep implementation and business transformation.

The work is being led by Joan Plant, who was recently appointed as Executive Vice President, and is now a member of the Company's Executive team.

Joan Plant, Amaroq Executive Vice President, said:

"Sustainability is at the heart of Amaroq's purpose to create a Greenlandic legacy. We are excited to be partnering with ERM to strategically review our sustainability approach and we look forward to working with them to implement our vision to support the energy transition and deliver sustainable development in Greenland."

Enquiries:

Amaroq Minerals Ltd. Eldur Olafsson, Executive Director and CEO eo@amaroqminerals.com

Eddie Wyvill, Corporate Development +44 (0)7713 126727 ew@amaroqminerals.com

Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker)

Callum Stewart Varun Talwar Simon Mensley Ashton Clanfield +44 (0) 20 7710 7600

Panmure Gordon (UK) Limited (Joint Broker)

John Prior Hugh Rich Dougie Mcleod +44 (0) 20 7886 2500

Camarco (Financial PR)

Billy Clegg Elfie Kent Charlie Dingwall +44 (0) 20 3757 4980

For Company updates:

Follow @Amaroq_minerals on X (Formerly known as Twitter) Follow Amaroq Minerals Inc. on LinkedIn

Further Information:

About Amaroq Minerals

Amaroq Minerals' principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in Greenland. The Company's principal asset is a 100% interest in the Nalunaq Project, an advanced exploration stage property with an exploitation license including the previously operating Nalunaq gold mine. The Corporation has the largest portfolio of gold and strategic metal assets in Greenland covering the two known gold belts in the region. Amaroq Minerals is incorporated under the Canada Business Corporations Act and wholly owns Nalunaq A/S, incorporated under the Greenland Public Companies Act.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Inside Information

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