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Toronto, Ontario, Feb. 27, 2024 (GLOBE NEWSWIRE) -- ("Amaroq" or
the "Corporation" or the "Company") 

Notification of Holdings

TORONTO, ONTARIO – 27 February 2024 – Amaroq Minerals Ltd. (AIM, TSX-V,
NASDAQ Iceland: AMRQ), an independent mining company with a substantial land
package of gold and strategic        energy transition mineral assets in
Southern Greenland, as a result of the fundraising announced on 23 February
2024, announces the following changes in its major shareholders:

      I.      TR-1: Standard form for notification of major
holdings

 NOTIFICATION OF MAJOR HOLDINGS                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                               
 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:                                                              Amaroq Minerals Ltd.                                                                                                                 
 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)                                                                                                                                                                                                                 
 Non-UK issuer                                                                                                                                                                                                                     X                                                                           
 2. Reason for the notification (please mark the appropriate box or boxes with an “X”)                                                                                                                                                                                                                         
 An acquisition or disposal of voting rights                                                                                                                                                                                       X                                                                           
 An acquisition or disposal of financial instruments                                                                                                                                                                                                                                                           
 An event changing the breakdown of voting rights                                                                                                                                                                                  X                                                                           
 Other (please specify):                                                                                                                                                                                                                                                                                       
 3. Details of person subject to the notification obligation                                                                                                                                                                                                                                                   
 Name                                                                                                                                                                     JLE Property Ltd                                                                                                                     
 City and country of registered office (if applicable)                                                                                                                    Lichfield, England                                                                                                                   
 4. Full name of shareholder(s) (if different from 3.)                                                                                                                                                                                                                                                         
 Name                                                                                                                                                                                                                                                                                                          
 City and country of registered office (if applicable)                                                                                                                                                                                                                                                         
 5. Date on which the threshold was crossed or reached:                                                                                                                   23 February 2024                                                                                                                     
 6. Date on which issuer notified (DD/MM/YYYY):                                                                                                                           26 February 2024                                                                                                                     
 7. Total positions of person(s) subject to the notification obligation                                                                                                                                                                                                                                        
                                                                            % of voting rights attached to shares (total of 8. A)  % of voting rights through financial instruments (total of 8.B 1 + 8.B 2)     Total of both in % (8.A + 8.B)      Total number of voting rights held in issuer (8.A + 8.B)  
 Resulting situation on the date on which threshold was crossed or reached  6.05%                                                  -                                                                             6.05%                               19,745,773                                                
 Position of previous notification (if applicable)                          7.37%                                                  -                                                                             7.37%                               19,407,936                                                



 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached                                                                                                                                                                                                                                                       
 A: Voting rights attached to shares                                                                                                                                                                                                                                                                                                                            
 Class/type of shares ISIN code (if possible)      Number of voting rights                                                                                                                         % of voting rights                                                                                                                                           
                                                                              Direct (DTR5.1)                                                            Indirect (DTR5.2.1)                                            Direct (DTR5.1)                                                         Indi 
                                                                                                                                                                                                                                                                                                rect 
                                                                                                                                                                                                                                                                                                (DTR 
                                                                                                                                                                                                                                                                                                5.2. 
                                                                                                                                                                                                                                                                                                1)  
 CA02312A1066                                      19,745,773                                                                                                                                      6.05%                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                
 SUBTOTAL 8. A                                     19,745,773                                                                                                                                      6.05%                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                
 B 1: Financial Instruments according to DTR5.3.1R (1) (a)                                                                                                                                                                                                                                                                                                      
 Type of financial instrument                      Expiration date                                       Exercise/ Conversion Period                                                                                    Number of voting rights that may be acquired if the instrument is exercised/converted.          % of voting rights                      
                                                                                                                                                                                                                                                                                                                                                                
                                                                                                         SUBTOTAL 8. B 1                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                
 B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)                                                                                                                                                                                                                                                                         
 Type of financial instrument                                                 Expiration date                                       Exercise/ Conversion Period               Physical or cash Settlement                                       Number of voting rights                                                                     % of voting rights  
                                                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                              SUBTOTAL 8.B.2                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                
 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)                                                                                                                                                                                                                                   
 Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer                                                                                              X                                       
 Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)                                                                                                                    
 Name                                              % of voting rights if it equals or is higher than the notifiable threshold       % of voting rights through financial instruments if it equals or is higher than the notifiable threshold                            Total of both if it equals or is higher than the notifiable threshold                   
                                                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                                                                
 10. In case of proxy voting, please identify:                                                                                                                                                                                                                                                                                                                  
 Name of the proxy holder                                                                                                                                                                                                                                                                                                                                       
 The number and % of voting rights held                                                                                                                                                                                                                                                                                                                         
 The date until which the voting rights will be held                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                
 11. Additional information                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                



 Place of completion  Lichfield, England  
 Date of completion   1. February 2024    

      II.      TR-1: Standard form for notification of major
holdings

 NOTIFICATION OF MAJOR HOLDINGS                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                               
 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:                                                              Amaroq Minerals Ltd.                                                                                                                 
 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)                                                                                                                                                                                                                 
 Non-UK issuer                                                                                                                                                                                                                     X                                                                           
 2. Reason for the notification (please mark the appropriate box or boxes with an “X”)                                                                                                                                                                                                                         
 An acquisition or disposal of voting rights                                                                                                                                                                                                                                                                   
 An acquisition or disposal of financial instruments                                                                                                                                                                                                                                                           
 An event changing the breakdown of voting rights                                                                                                                                                                                  X                                                                           
 Other (please specify):                                                                                                                                                                                                                                                                                       
 3. Details of person subject to the notification obligation                                                                                                                                                                                                                                                   
 Name                                                                                                                                                                     Eldur Olafsson                                                                                                                       
 City and country of registered office (if applicable)                                                                                                                    Reykjavik, Iceland                                                                                                                   
 4. Full name of shareholder(s) (if different from 3.)                                                                                                                                                                                                                                                         
 Name                                                                                                                                                                                                                                                                                                          
 City and country of registered office (if applicable)                                                                                                                                                                                                                                                         
 5. Date on which the threshold was crossed or reached:                                                                                                                   23 February 2024                                                                                                                     
 6. Date on which issuer notified (DD/MM/YYYY):                                                                                                                           26 February 2024                                                                                                                     
 7. Total positions of person(s) subject to the notification obligation                                                                                                                                                                                                                                        
                                                                            % of voting rights attached to shares (total of 8. A)  % of voting rights through financial instruments (total of 8.B 1 + 8.B 2)     Total of both in % (8.A + 8.B)      Total number of voting rights held in issuer (8.A + 8.B)  
 Resulting situation on the date on which threshold was crossed or reached  2.79%                                                  -                                                                             2.79%                               9,108,918                                                 
 Position of previous notification (if applicable)                          3.45%                                                  -                                                                             3.45%                               9,108,918                                                 



 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached                                                                                                                                                             
 A: Voting rights attached to shares                                                                                                                                                                                                                                  
 Class/type of shares ISIN code (if possible)  Number of voting rights                                                       % of voting rights                                                                                                                       
                                                                          Direct (DTR5.1)                                    Indirect (DTR5.2.1)                        Direct (DTR5.1)                                                           Ind 
                                                                                                                                                                                                                                                  ire 
                                                                                                                                                                                                                                                  ct 
                                                                                                                                                                                                                                                  (DT 
                                                                                                                                                                                                                                                  R5. 
                                                                                                                                                                                                                                                  2.1 
                                                                                                                                                                                                                                                  )  
 CA02312A1066                                  9,108,918                                                                     2.79%                                                                                                                                    
                                                                                                                                                                                                                                                                      
 SUBTOTAL 8. A                                 9,108,918                                                                     2.79%                                                                                                                                    
                                                                                                                                                                                                                                                                      
 B 1: Financial Instruments according to DTR5.3.1R (1) (a)                                                                                                                                                                                                            
 Type of financial instrument                  Expiration date            Exercise/ Conversion Period                                    Number of voting rights that may be acquired if the instrument is exercised/converted.       % of voting rights              
                                                                                                                                                                                                                                                                      
                                                                          SUBTOTAL 8. B 1                                                                                                                                                                             
                                                                                                                                                                                                                                                                      
 B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)                                                                                                                                                                               
 Type of financial instrument                                   Expiration date     Exercise/ Conversion Period  Physical or cash Settlement                            Number of voting rights                                                   % of voting rights  
                                                                                                                                                                                                                                                                      
                                                                                                                 SUBTOTAL 8.B.2                                                                                                                                       
                                                                                                                                                                                                                                                                      



 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)                                                                                                                                                                                                                         
 Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer                                                                                       X                                    
 Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)                                                                                                          
 Name                                                         % of voting rights if it equals or is higher than the notifiable threshold  % of voting rights through financial instruments if it equals or is higher than the notifiable threshold  Total of both if it equals or is higher than the notifiable threshold                             
                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                      
 10. In case of proxy voting, please identify:                                                                                                                                                                                                                                                                                                        
 Name of the proxy holder                                                                                                                                                                                                                                                                                                                             
 The number and % of voting rights held                                                                                                                                                                                                                                                                                                               
 The date until which the voting rights will be held                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                      
 11. Additional information                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                      



 Place of completion  Reykjavik, Iceland  
 Date of completion   26 February 2024    

      III.      TR-1: Standard form for notification of major
holdings

 NOTIFICATION OF MAJOR HOLDINGS                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                               
 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:                                                              Amaroq Minerals Ltd.                                                                                                                 
 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)                                                                                                                                                                                                                 
 Non-UK issuer                                                                                                                                                                                                                     X                                                                           
 2. Reason for the notification (please mark the appropriate box or boxes with an “X”)                                                                                                                                                                                                                         
 An acquisition or disposal of voting rights                                                                                                                                                                                                                                                                   
 An acquisition or disposal of financial instruments                                                                                                                                                                                                                                                           
 An event changing the breakdown of voting rights                                                                                                                                                                                  X                                                                           
 Other (please specify):                                                                                                                                                                                                                                                                                       
 3. Details of person subject to the notification obligation                                                                                                                                                                                                                                                   
 Name                                                                                                                                                                     First Pecos, LLC                                                                                                                     
 City and country of registered office (if applicable)                                                                                                                    Monahans, Texas USA                                                                                                                  
 4. Full name of shareholder(s) (if different from 3.)                                                                                                                                                                                                                                                         
 Name                                                                                                                                                                                                                                                                                                          
 City and country of registered office (if applicable)                                                                                                                                                                                                                                                         
 5. Date on which the threshold was crossed or reached:                                                                                                                   23 February 2024                                                                                                                     
 6. Date on which issuer notified (DD/MM/YYYY):                                                                                                                           26 February 2024                                                                                                                     
 7. Total positions of person(s) subject to the notification obligation                                                                                                                                                                                                                                        
                                                                            % of voting rights attached to shares (total of 8. A)  % of voting rights through financial instruments (total of 8.B 1 + 8.B 2)     Total of both in % (8.A + 8.B)      Total number of voting rights held in issuer (8.A + 8.B)  
 Resulting situation on the date on which threshold was crossed or reached  4.86%                                                  -                                                                             4.86%                               15,853,128                                                
 Position of previous notification (if applicable)                          6.01%                                                  -                                                                             6.01%                               15,853,128                                                



 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached                                                                                                                                                             
 A: Voting rights attached to shares                                                                                                                                                                                                                                  
 Class/type of shares ISIN code (if possible)  Number of voting rights                                                       % of voting rights                                                                                                                       
                                                                          Direct (DTR5.1)                                    Indirect (DTR5.2.1)                        Direct (DTR5.1)                                                           Ind 
                                                                                                                                                                                                                                                  ire 
                                                                                                                                                                                                                                                  ct 
                                                                                                                                                                                                                                                  (DT 
                                                                                                                                                                                                                                                  R5. 
                                                                                                                                                                                                                                                  2.1 
                                                                                                                                                                                                                                                  )  
 CA02312A1066                                  15,853,128                                                                    4.86%                                                                                                                                    
 SUBTOTAL 8. A                                 15,853,128                                                                    4.86%                                                                                                                                    
                                                                                                                                                                                                                                                                      
 B 1: Financial Instruments according to DTR5.3.1R (1) (a)                                                                                                                                                                                                            
 Type of financial instrument                  Expiration date            Exercise/ Conversion Period                                    Number of voting rights that may be acquired if the instrument is exercised/converted.       % of voting rights              
                                                                                                                                                                                                                                                                      
                                                                          SUBTOTAL 8. B 1                                                                                                                                                                             
                                                                                                                                                                                                                                                                      
 B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)                                                                                                                                                                               
 Type of financial instrument                                   Expiration date     Exercise/ Conversion Period  Physical or cash Settlement                            Number of voting rights                                                   % of voting rights  
                                                                                                                                                                                                                                                                      
                                                                                                                 SUBTOTAL 8.B.2                                                                                                                                       
                                                                                                                                                                                                                                                                      



 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)                                                                                                                                                                                                                         
 Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer                                                                                       X                                    
 Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)                                                                                                          
 Name                                                         % of voting rights if it equals or is higher than the notifiable threshold  % of voting rights through financial instruments if it equals or is higher than the notifiable threshold  Total of both if it equals or is higher than the notifiable threshold                             
                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                      
 10. In case of proxy voting, please identify:                                                                                                                                                                                                                                                                                                        
 Name of the proxy holder                                                                                                                                                                                                                                                                                                                             
 The number and % of voting rights held                                                                                                                                                                                                                                                                                                               
 The date until which the voting rights will be held                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                      
 11. Additional information                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                      



 Place of completion  Monahans, Texas USA  
 Date of completion   26 February 2024     

      IV.      TR-1: Standard form for notification of major
holdings

 NOTIFICATION OF MAJOR HOLDINGS                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                               
 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:                                                              Amaroq Minerals Ltd.                                                                                                                 
 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)                                                                                                                                                                                                                 
 Non-UK issuer                                                                                                                                                                                                                     X                                                                           
 2. Reason for the notification (please mark the appropriate box or boxes with an “X”)                                                                                                                                                                                                                         
 An acquisition or disposal of voting rights                                                                                                                                                                                                                                                                   
 An acquisition or disposal of financial instruments                                                                                                                                                                                                                                                           
 An event changing the breakdown of voting rights                                                                                                                                                                                  X                                                                           
 Other (please specify):                                                                                                                                                                                                                                                                                       
 3. Details of person subject to the notification obligation                                                                                                                                                                                                                                                   
 Name                                                                                                                                                                     Livermore Partners, LLC                                                                                                              
 City and country of registered office (if applicable)                                                                                                                    Northbrook, Illinois                                                                                                                 
 4. Full name of shareholder(s) (if different from 3.)                                                                                                                                                                                                                                                         
 Name                                                                                                                                                                                                                                                                                                          
 City and country of registered office (if applicable)                                                                                                                                                                                                                                                         
 5. Date on which the threshold was crossed or reached:                                                                                                                   23 February 2024                                                                                                                     
 6. Date on which issuer notified (DD/MM/YYYY):                                                                                                                           26 February 2024                                                                                                                     
 7. Total positions of person(s) subject to the notification obligation                                                                                                                                                                                                                                        
                                                                            % of voting rights attached to shares (total of 8. A)  % of voting rights through financial instruments (total of 8.B 1 + 8.B 2)     Total of both in % (8.A + 8.B)      Total number of voting rights held in issuer (8.A + 8.B)  
 Resulting situation on the date on which threshold was crossed or reached  4.44%                                                  -                                                                             4.44%                               14,481,924                                                
 Position of previous notification (if applicable)                          5.49%                                                  -                                                                             5.49%                               14,481,924                                                



 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached                                                                                                                                                             
 A: Voting rights attached to shares                                                                                                                                                                                                                                  
 Class/type of shares ISIN code (if possible)  Number of voting rights                                                       % of voting rights                                                                                                                       
                                                                          Direct (DTR5.1)                                    Indirect (DTR5.2.1)                        Direct (DTR5.1)                                                           Ind 
                                                                                                                                                                                                                                                  ire 
                                                                                                                                                                                                                                                  ct 
                                                                                                                                                                                                                                                  (DT 
                                                                                                                                                                                                                                                  R5. 
                                                                                                                                                                                                                                                  2.1 
                                                                                                                                                                                                                                                  )  
 CA02312A1066                                  14,481,924                                                                    4.44%                                                                                                                                    
 SUBTOTAL 8. A                                 14,481,924                                                                    4.44%                                                                                                                                    
                                                                                                                                                                                                                                                                      
 B 1: Financial Instruments according to DTR5.3.1R (1) (a)                                                                                                                                                                                                            
 Type of financial instrument                  Expiration date            Exercise/ Conversion Period                                    Number of voting rights that may be acquired if the instrument is exercised/converted.       % of voting rights              
                                                                                                                                                                                                                                                                      
                                                                          SUBTOTAL 8. B 1                                                                                                                                                                             
                                                                                                                                                                                                                                                                      
 B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)                                                                                                                                                                               
 Type of financial instrument                                   Expiration date     Exercise/ Conversion Period  Physical or cash Settlement                            Number of voting rights                                                   % of voting rights  
                                                                                                                                                                                                                                                                      
                                                                                                                 SUBTOTAL 8.B.2                                                                                                                                       
                                                                                                                                                                                                                                                                      



 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)                                                                                                                                                                                                                         
 Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer                                                                                       X                                    
 Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)                                                                                                          
 Name                                                         % of voting rights if it equals or is higher than the notifiable threshold  % of voting rights through financial instruments if it equals or is higher than the notifiable threshold  Total of both if it equals or is higher than the notifiable threshold                             
                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                      
 10. In case of proxy voting, please identify:                                                                                                                                                                                                                                                                                                        
 Name of the proxy holder                                                                                                                                                                                                                                                                                                                             
 The number and % of voting rights held                                                                                                                                                                                                                                                                                                               
 The date until which the voting rights will be held                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                      
 11. Additional information                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                      



 Place of completion  Northbrook, Illinois  
 Date of completion   26 February 2024

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