Mr. Eldur Olafsson reports

UPDATE TO FUNDRAISING SETTLEMENT

The settlement and admission of the 31,979,652 common shares of Amaroq Minerals Ltd. in relation to the United Kingdom placing and Canadian subscription, as detailed in the announcements on Oct. 19, 2022, and Oct. 20, 2022, are now expected to occur on Nov. 3, 2022.

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 7,866.85 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.