Amaroq Minerals Ltd.

Director's Dealing • May 21, 2024

("Amaroq Minerals" or the "Company")

Director/PDMR Shareholding - Notification of Transactions of Directors/Persons Discharging Managerial Responsibilities (PDMRs)

TORONTO, ONTARIO – May 21, 2024 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ) announces that on May 17, 2024, it was informed that Livermore Strategic Opportunities LP in which David Neuhauser, Non-Executive Director of Amaroq Minerals, is Managing Director, acquired a total of 19,500 common shares of no par value in the Company. This brings David Neuhauser's indirect total holding to 14,520,624 shares, representing 4.45% of the Company's capital.

DEALING NOTIFICATION FORM

FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Livermore Strategic Opportunities LP, David Neuhauser
2.	Reason for the notification
a)	Position/status:	Non-Executive Director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction
	platform, auctioneer or auction monitor
a)	Name	Amaroq Minerals Ltd.
b)	LEI:	213800Q21S5JQ6WKCE70
4.	Details of the transaction(s): section to be repeated for (i) each type of
	instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
	where transactions have been conducted
a)	Description of the financial	Depositary receipts representing Common
	instrument, type of instrument:	shares of no par value in Amaroq Minerals Ltd.
	Identification code:	ISIN: IS0000034569
b)	Nature of the transaction:	Purchase of common shares of no par value in
		Amaroq Minerals Ltd.
c)	Price(s) and volume(s):	Price(s) Volume(s)
		ISK 127 19,500
d)	Aggregated information:
	• Aggregated volume:	19,500

AND THEIR CLOSELY ASSOCIATED PERSONS

	• Average price:	ISK 127
e)	Date of the transaction(s):	May 17, 2024
f)	Place of the transaction	XICE

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:

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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 does not contain inside information.