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."

Amaroq Minerals Ltd.

Eldur Olafsson, Executive Director and CEO

Eddie Wyvill, Corporate Development

Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker)

Callum Stewart

Varun Talwar

Simon Mensley

Ashton Clanfield

Panmure Gordon (UK) Limited (Joint Broker)

Hugh Rich

Dougie Mcleod

Camarco (Financial PR)

Billy Clegg

Elfie Kent

Charlie Dingwall

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