Kangerluarsuk Asset Purchase Agreement Executed

80 Mile PLC ('80 Mile' or the 'Company'), the AIM, FSE, and OTC listed exploration and development company, announces that the Company has executed an asset purchase agreement with Amaroq Minerals Ltd. ('Amaroq', AIM, TSXV, NASDAQ Iceland: AMRQ), for the sale of the Kangerluarsuk zinc-lead-silver project ('Kangerluarsuk') in Greenland. This follows the announcement on 12 June 2025 regarding the definitive agreement with Amaroq (the 'Agreement').

Under the terms of the Agreement, following completion, 80 Mile [will receive] US$500,000 in Amaroq shares. Additionally, upon discovery of an economic deposit, as defined by a JORC or NI 43-101 compliant resource that supports development, the Company will receive US$1,500,000 in cash or shares.

Kangerluarsuk is a high-grade carbonate-hosted zinc-lead-silver project located on Greenland's west coast, within the historic Black Angel mining district. 80 Mile identified multiple untested geophysical anomalies on the property that are consistent with the style of mineralisation that supported historical production in the district.

Amaroq Minerals is a well-capitalised and technically proficient Greenland-focused explorer and developer, and 80 Mile is confident that their team is well-placed to unlock the value of the project through systematic exploration. Amaroq have announced this purchase and a proposed fundraising of £30.0 million in the announcement which can be found here.

This transaction reflects 80 Mile's ongoing strategy to monetise non-core assets and focus on its priority projects, particularly the Disko-Nuussuaq nickel-copper-cobalt project, Hydrogen Valley, and the Jameson Land Basin Project. The proceeds will be directed toward advancing these core assets and further strategic initiatives.