Mr. Eldur Olafsson reports

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

Amaroq Minerals Ltd. has been informed that Graham Stewart, chairman of the board, Eldur Olafsson, chief executive officer, Joan Plant, executive vice-president, Ellert Arnarson, chief financial officer, and non-executive directors Warwick Morley-Jepson and David Neuhauser (indirectly through Livermore Partners LLC, in which he is managing director), have acquired 191,085 common shares of no par value in the company in total.

About Amaroq Minerals Ltd.

Amaroq Minerals' principal business objectives are the identification, acquisition, exploration and development of gold and strategic metal properties in southern Greenland. The company's principal asset is a 100-per-cent interest in the past-producing Nalunaq gold mine, which is due to go into production toward the end of 2024. The company has a portfolio of gold and strategic metal assets in southern Greenland, covering the two known gold belts in the region, as well as advanced exploration projects at Stendalen and the Sava copper belt, exploring for strategic metals such as copper, nickel and rare earths. Amaroq Minerals is continued under the Business Corporations Act (Ontario) and wholly owns Nalunaq AS, incorporated under the Greenland Public Companies Act.