Amaroq Minerals Ltd.

Board/Management Information • Jun 24, 2024

Amaroq Announces Completion of Continuance and Directorship Change

TORONTO, ONTARIO – 24 June, 2024 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mine development corporation with a substantial land package of gold and strategic mineral assets across in Southern Greenland, announces that it has completed its continuance (the "Continuance") from the Canada Business Corporations Act into the Province of Ontario under the Business Corporations Act (Ontario). The Continuance was approved by a special resolution of shareholders at the Company's Annual and Special Meeting held on June 14, 2024.

With the Company having completed the Continuance, the requirement of the Canada Business Corporations Act that at least one-quarter of the directors must be resident Canadians no longer applies, and as such Sander A.J.R. Grieve has stepped down from the Company's Board of directors. The Board believes that the remaining directors maintain a strong and well-balanced mix of skills, competencies, and diverse backgrounds, ensuring continued effective governance. As such, the Board does not currently intend to appoint an additional director and believes it is well-positioned to continue delivering value to all stakeholders.

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)

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

Camarco (Financial PR)

Billy Clegg Elfie Kent

Charlie Dingwall +44 (0) 20 3757 4980

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About Amaroq Minerals

Amaroq Minerals' principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in South Greenland. The Company's principal asset is a 100% interest in the past producing Nalunaq Gold mine which is due to go into production towards the end of 2024. The Company has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region as well as advanced exploration projects at Stendalen and the Sava Copper Belt exploring for Strategic metals such as Copper, Nickel, Rare Earths and other minerals. Amaroq Minerals is continued under the Business Corporations Act (Ontario) 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

This announcement does not contain inside information.