Amaroq Minerals Ltd.

Board/Management Information • Mar 11, 2024

("Amaroq Minerals" or the "Company")

Directorate Change

TORONTO, ONTARIO – March 11, 2024 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mine development company with a substantial land package of gold and strategic mineral assets in Southern Greenland, announces that Jaco Crouse has informed the Board of his intention to take up a position at a sector investment company and to step down as Chief Financial Officer and as a Director of the Company with effect from 3 June 2024.

The Company has initiated a process to appoint a new Chief Financial Officer and will update the market in due course.

Eldur Olafsson, CEO of Amaroq Minerals, commented:

"On behalf of the Board and the whole team at Amaroq, I would like to thank Jaco for the significant contribution he has made to Amaroq over the last three years. After a period of transition, he will leave the Company in a robust financial position and we wish him the best in his future endeavours."

Jaco Crouse, CFO of Amaroq Minerals, commented:

"I have thoroughly enjoyed my three years working with the fantastic team at Amaroq and wish them continued success. I will be leaving the business and its finances in healthy shape following a managed handover period to a successor."

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

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 a portfolio of gold and strategic metal assets in Southern 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

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No. 596/2014 on Market Abuse ("UK MAR"), as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, and Regulation (EU) No. 596/2014 on Market Abuse ("EU MAR").