("Amaroq," "Company" or the "Corporation")

Nalunaq Development Video Update

TORONTO, ONTARIO - July 15, 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, is pleased to provide a video update on operations at its cornerstone Nalunaq mine.

The video update of the developments at Nalunaq is available to watch at the below link:

https://www.youtube.com/watch?v=8tVqKdQED0I

Eldur Olafsson, CEO of Amaroq Minerals, commented:

"Development activities at Nalunaq continue to advance, as we work towards the milestone of First Gold later this year. We are pleased to share a video update of our latest progress. This week we were also delighted to host Greenland's Prime Minister Múte Bourup Egede on site for a visit to present our progress in person."

Image: Greenland Prime Minister Múte Bourup Egede stands in front of the Nalunaq processing plant last week

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 Liberum (UK) Limited (Joint Broker)

Scott Mathieson

Kieron Hodgson

+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 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.