Mr. Eldur Olafsson reports

DIRECTOR/PDMR SHAREHOLDING

On May 17, 2024, Amaroq Minerals Ltd. was informed that Livermore Strategic Opportunities LP, in which David Neuhauser, non-executive director of Amaroq Minerals, is managing director, acquired a total of 19,500 common shares of no par value in the company. This brings Mr. Neuhauser's indirect total holding to 14,520,624 shares, representing 4.45 per cent of the company's capital.

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.