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Person Discharging Managerial Functions

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TORONTO, ONTARIO – October 7, 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 it was informed that Eldur Olafsson, CEO of Amaroq Minerals, acquired a total of 300,000 common shares of no par value in the Company. This brings Eldur Olafsson's indirect total holding to 9,502,173 shares, 2.9% of the capital in the Company.

DEALING NOTIFICATION FORM

FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY

AND THEIR CLOSELY ASSOCIATED PERSONS

1.Details of the person discharging managerial responsibilities/person closely associated
a)Name:Eldur Olafsson
2.Reason for the notification
a)Position/status:Chief Executive Officer
b)Initial notification/AmendmentInitial notification
a)NameAmaroq Minerals Ltd.
b)LEI:213800Q21S5JQ6WKCE70
a)Description of the financial instrument, type of instrument: Identification code:Common shares of no par value in Amaroq Minerals Ltd. ISIN: CA02312A1066
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)
CA$ 1.23300,000
d)Aggregated information: Aggregated volume: Average price:300,000 CA$ 1.23
e)Date of the transaction(s):October 04, 2024
f)Place of the transactionTSXV

Amaroq Minerals Ltd.

Eldur Olafsson, Executive Director and CEO

Eddie Wyvill, Corporate Development

Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)

Callum Stewart

Varun Talwar

Simon Mensley

Ashton Clanfield

Panmure Gordon (UK) Limited (Joint Broker)

Scott Mathieson

Kieron Hodgson

Camarco (Financial PR)

Billy Clegg

Elfie Kent

Fergus Young

For Corporation updates:

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Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.

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