Mr. Eldur Olafsson reports

DIRECTOR/PDMR SHAREHOLDING - NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES (PDMRS)

On July 15, 2022, Amaroq Minerals Ltd. was informed that Livermore Partners LLC, a company in which David Neuhauser, non-executive director of Amaroq Minerals, is managing director, acquired a total of 23,800 common shares of no par value in the company. This brings Livermore Partners' total holding to 12,040,210 shares, or 6.79 per cent of the capital in the company.

About Amaroq Minerals Ltd.

Amaroq Minerals' principal business objectives are the identification, acquisition, exploration and development of gold and strategic metal properties in Greenland. The company's principal asset is a 100-per-cent interest in the Nalunaq project, an advanced-exploration-stage property with an exploitation licence including the previously operating Nalunaq gold mine. The corporation has a portfolio of gold and strategic metal assets covering 7,615.85 square kilometres, the largest mineral portfolio in southern Greenland covering the two known gold belts in the region. Amaroq Minerals is incorporated under the Canada Business Corporations Act and wholly owns Nalunaq AS, incorporated under the Greenland Public Companies Act.

We seek Safe Harbor.