Mr. Eldur Olafsson reports

COMMENCEMENT OF PUBLIC CONSULTATION IN GREENLAND

The public consultation process for the draft environmental impact assessment and social impact assessment report on Amaroq Minerals Ltd.'s Nalunaq gold mine project has commenced. As part of the public consultation process, Amaroq management will be carrying out consultation meetings with local communities in Greenland next week. The public consultation is expected to close by March 1, 2024.

A link to background materials regarding the public consultation is set out on the company's website.

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 corporation'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 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.