Mr. Eldur Olafsson reports

AWARDS UNDER RESTRICTED SHARE UNIT PLAN (THE "RSU")

Amaroq Minerals Ltd., in alignment with its RSU (restricted share unit) plan dated June 14, 2024, has granted an award to directors and employees of the company.

The RSU plan, communicated to the market following the company's admission to the Alternative Investment Market (AIM) in 2020, was developed with input from PwC. The RSU plan was initially approved by the company's shareholders at the annual general meeting (AGM) held on June 16, 2022, and further amended and approved by the AGM resolution on June 15, 2023, and on June 14, 2024.

Full details of the RSU plan are available on the company's website.

Conditional awards were granted to participants on Dec. 30, 2022, and Oct. 13, 2023. The performance period runs from Jan. 1, 2022, to Dec. 31, 2025 with, measurement dates at Dec. 31, 2023, Dec. 31, 2024, and Dec. 31, 2025.

The details of the award are provided in the attached table.

About Amaroq Minerals Ltd.

Amaroq's 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 Nalunaq gold mine. 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, rare earths and other minerals. Amaroq Minerals is continued under the Business Corporations Act (Ontario) and wholly owns Nalunaq A/S, incorporated under the Greenland Companies Act.