Mr. Eldur Olafsson reports

DIRECTORATE CHANGE

Jaco Crouse has informed the Amaroq Minerals Ltd. board of his intention to take up a position at a sector investment company and to step down as chief financial officer and as a director of the company with effect from June 3, 2024.

The company has initiated a process to appoint a new chief financial officer and will update the market in due course.

Eldur Olafsson, chief executive officer of Amaroq Minerals, commented:

"On behalf of the board and the whole team at Amaroq, I would like to thank Jaco for the significant contribution he has made to Amaroq over the last three years. After a period of transition, he will leave the company in a robust financial position and we wish him the best in his future endeavours."

Mr. Crouse, CFO of Amaroq Minerals, commented:

"I have thoroughly enjoyed my three years working with the fantastic team at Amaroq and wish them continued success. I will be leaving the business and its finances in healthy shape following a managed handover period to a successor."

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 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 A/S, incorporated under the Greenland Public Companies Act.