Mr. Eldur Olafsson reports

COMPANY NAME CHANGE TO AMAROQ LTD.

Following shareholder approval of a special resolution at Amaroq Minerals Ltd.'s annual general and special meeting held on June 13, 2025, to change the name of the company, the company plans to file articles of amendment to change its name to Amaroq Ltd. on July 14, 2025. The name change will be effective July 15, 2025, and is subject to acceptance from the TSX Venture Exchange.

Effective at the start of trading on or about July 17, 2025, the company will commence trading under the new name on the TSX-V, AIM (Alternative Investment Market), Nasdaq Iceland and OTCQX.

The company will continue to trade under the ticker symbol AMRQ on the TSX-V, AIM and Nasdaq Iceland as well as AMRQF on the OTCQX.

The new Cusip number is 02311U103 and the new ISIN (international securities identification number) for the common shares is CA02311U1030.

The ISIN for Icelandic depositary receipts (IDRs) traded on Nasdaq Iceland remains IS0000034569.

There is no consolidation of share capital. Shareholders are not required to change their existing share certificates for new certificates bearing the new company name and company shares held electronically will be booked electronically. The name change does not affect the rights of the company's shareholders, and no further action is required by existing shareholders with respect to the name change.

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 AS, incorporated under the Greenland Companies Act.