Mr. Eldur Olafsson reports

AMAROQ MINERALS COMMENTS ON RECENT TRADING ACTIVITY

At the request of the Canadian Investment Regulatory Organization (CIRO), Amaroq Minerals Ltd. wishes to confirm that the company's management is unaware of any material change in the company's operations that would account for the recent increase in market activity.

About Amaroq Minerals Ltd.

Amaroq's principal business objectives are the identification, acquisition, exploration and development of gold and strategic metal properties in South 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.