Amaroq Awarded Johan Dahl Land Licence and Positive Initial Exploration Results

**Results of up to 12.3g/t Au and 5.1%Cu Recorded**

TORONTO, ONTARIO – January 22, 2025 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mining development Company with an extensive land package of gold and strategic mineral assets across Southern Greenland, is pleased to announce that it has been awarded the Johan Dahl Land licence (MEL 2025-17). This newly acquired licence expands Amaroq’s footprint in the South Greenland Copper Belt, a region demonstrating high potential for copper-gold mineralization, complementing the Company’s existing portfolio in the area.

Highlights

The Johan Dahl Land licence encompasses an area of 666.51 km², increasing Amaroq’s total land holdings to 6,800.1 km².

This significant expansion of the Company’s critical metal portfolio now sees Amaroq hold 3,147 km2 of the South Greenland Copper Belt, through its Gardaq Joint Venture.

Initial exploration at the newly defined Ukaleq Target identified gold grades up to 12.3 g/t Au and copper grades up to 5.1% Cu, hosted in quartz and copper sulphide veins.

A further copper-gold anomalism covering an area extending up to 19 km² has been identified, highlighting the broader exploration potential.

Geochemical signatures suggest the presence of an intermediate-to-high sulphidation epithermal system. Such systems are globally recognized for their copper, gold, and silver potential.

These findings are believed to be key structures, consistent with the geological framework of the South Greenland Copper Belt.

References to the accompanying presentation on the Johan Dahl Land results can be accessed on the website by clicking the link below:

James Gilbertson, VP Exploration for Amaroq, commented:

“The award of the Johan Dahl Land licence and the promising early exploration results reaffirm Amaroq’s commitment to unlocking Greenland’s critical mineral potential. The South Greenland Copper Belt is rapidly emerging as a significant exploration district, and our work at the Ukaleq Target has already demonstrated its significant resource potential. We are excited to advance exploration efforts and build on these discoveries to position Amaroq as a leader in sustainable mineral development in Greenland.”

Exploration Summary

Prior to the final award of the Johan Dahl Land licence, Amaroq conducted an intensive field program across the Ukaleq Target area. Building on the Company's geological expertise in the South Greenland Copper Belt, sampling of exposed quartz and copper sulphide veins returned highly encouraging assay results. These included gold grades up to 12.3 g/t Au and copper grades reaching 5.1%, indicative of a robust mineralizing system.

Broader reconnaissance efforts identified a 19 km² zone of copper-gold anomalism, supported by detailed geochemical analyses. The geochemical signature suggests a potential intermediate-to-high sulphidation epithermal system, comparable to similar high-potential systems globally.

Strategic Expansion in South Greenland

The Johan Dahl Land licence will be held under the Company’s Gardaq Joint Venture and represents a key addition to Amaroq’s extensive portfolio in the South Greenland Copper Belt. This region is becoming increasingly recognised for its critical mineral resources, offering a unique opportunity for Amaroq to contribute to the global supply of essential metals while supporting Greenland’s sustainable economic development.

Next Steps

Amaroq intends to integrate the results from the 2024 exploration program into a broader exploration strategy for 2025. Planned activities include:

Detailed geophysical surveys to refine initial drill targets across the Ukaleq Target;

Advanced geochemical sampling to further delineate high-grade zones within the 19 km² anomalous area; and

Regional exploration across the Johan Dahl Land licence to identify additional mineralized systems.

Amaroq is committed to working in close collaboration with Greenland’s government and communities to ensure a responsible development of the region’s mineral resources.

Amaroq Minerals Ltd.

Eldur Olafsson, Executive Director and CEO

Eddie Wyvill, Corporate Development

Panmure Liberum Limited (Nominated Adviser and Corporate Broker)

Scott Mathieson

Nikhil Varghese

Kieron Hodgson

Canaccord Genuity Limited (Corporate Broker)

James Asensio

Harry Rees

Camarco (Financial PR)

Billy Clegg

Elfie Kent

Fergus Young

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