REG-Gold Production for YE 2025 and Award of Impact Benefit Agreement (“IBA”)

AmaroqAnnouncement

08/01/2026 07:00

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Reykjavík, Jan. 08, 2026 (GLOBE NEWSWIRE) -- Gold Production for YE 2025 of
~6.6koz(1) above the mid-point of the annual 6-7koz guidance range

And

Award of Impact Benefit Agreement (“IBA”)

TORONTO, ONTARIO – 8 January 2026 – Amaroq Ltd. (AIM, TSX-V, NASDAQ
Iceland: AMRQ, OTCQX: AMRQF), an independent mine development corporation
focused on unlocking Greenland’s mineral potential, is pleased to announce
year end gold production from its flagship Nalunaq gold mine amounted to
~6.6koz(1), above the mid-point of the annual 6-7koz production range and
pre-final refinery assessment.

Highlights
* Year end production of ~6.6koz(1), above the mid point of the 6-7koz
guidance range
* Mining and processing rates expected to continue to be consistent into the
new year
* Final IBA awarded for the Nalunaq gold mine
* Production guidance and budget for 2026 will be announced in late February
2026
Eldur Olafsson, CEO of Amaroq, commented:
“In what has been a commissioning year for our Nalunaq mine in Southern
Greenland, I am very pleased to announce gold production came above the mid
point of the guidance range. Since completion of the shutdown in Q4 2025 and
restart of operations, the processing unit and mining operations have
performed well, in line with our expectations for Phase 1 and with a target to
increase the recovery factor up to ~90%, once Phase 2 is complete, in Q2 2026.

“We are very proud to have had the final impact benefit agreement for our
Nalunaq mine approved; it is significant milestone, not only for Amaroq but
also demonstrates how a successful mining industry in Greenland is being
developed. I would just like to take the opportunity to thank all of our team
on the ground, as well as our sub contractors who have worked tirelessly in
the construction and commissioning at Nalunaq. I very much look forward to
bringing the market more news, as we progress into the new year and phase 2
commissioning.”

Link to Greenland Government press release confirming IBA award: 
Aftale om samfundsmæssig bæredygtighed indgået mellem Naalakkersuisut,
Kommune Kujalleq og Nalunaq A/S
(https://www.globenewswire.com/Tracker?data=fE74e3r1ay6bxsS9fcgzWnFbwQ53oPe5PKZLihYq1cCZ1lUtHLfnBf607tfU5UVaQfuZShrSM57uqwdlYnqoY6LzADAzqYcYq-Eam_8uJ3LgGovMP6fHdHTlClmzGeBv7ey5YwZhP6MMqEK0iLEnsQmOcJL_TluXE0PYGNt4Y0jRaFen-KBojFzZFnSADd9PvE9gFYmzsmNt5qvtdYzrNXEBMoxbf7054bydhhKuEhqY8dffEeCXGLZq-jyn3-BtRQI9Ah71qfHmi4O9hIhyeA==)

Enquiries:
Amaroq Ltd. C/O         
Ed Westropp, Head of BD and Corporate Affairs
                        
+44 (0)7385 755711
ewe@amaroqminerals.com

Eddie Wyvill, Corporate Development
                        
+44 (0)7713 126727
ew@amaroqminerals.com

Panmure Liberum Limited (Nominated Adviser and Corporate Broker)
Scott Mathieson
Freddie Wooding
+44 (0) 20 7886 2500

Canaccord Genuity Limited (Corporate Broker)
James Asensio
Harry Rees
+44 (0) 20 7523 8000

Camarco (Financial PR)
Billy Clegg
Elfie Kent
Fergus Young
+44 (0) 20 3757 4980

Further Information:

About Amaroq 
Amaroq’s principal business objective is the identification, acquisition,
exploration and development of gold and strategic metal assets in Greenland.
The Company’s flagship asset is the 100%-owned Nalunaq Gold Mine, currently
in production and ramp up, and supported by a growing pipeline of high-grade
satellite gold targets across South and West Greenland.

Amaroq also acquired a 100% interest in the Black Angel zinc-lead-silver
project in West Greenland, historically one of Greenland’s highest-grade
base metal operations, where the Company is advancing studies to evaluate the
potential for future redevelopment as part of its emerging West Greenland Hub
strategy.

Beyond gold and base metals, Amaroq controls a broad portfolio of strategic
metal licences across South Greenland, including advanced exploration projects
at Stendalen (copper-nickel sulphides) and within the Sava Belt, where the
Company is exploring for copper, nickel, rare earth elements and other
critical minerals.

Amaroq is continued under the Business Corporations Act (Ontario) and wholly
owns Nalunaq A/S, incorporated under the Greenland Companies Act

Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Forward-Looking Information
This press release contains forward-looking information within the meaning of
applicable securities legislation, which reflects the Corporation's current
expectations regarding future events and the future growth of the
Corporation's business. In this press release there is forward-looking
information based on a number of assumptions and subject to a number of risks
and uncertainties, many of which are beyond the Corporation's control, that
could cause actual results and events to differ materially from those that are
disclosed in or implied by such forward-looking information. Such risks and
uncertainties include but are not limited to the factors discussed under "Risk
Factors" in the Final Prospectus available under the Corporation's profile on
SEDAR at www.sedar.com. Any forward-looking information included in this press
release is based only on information currently available to the Corporation
and speaks only as of the date on which it is made. Except as required by
applicable securities laws, the Corporation assumes no obligation to update or
revise any forward-looking information to reflect new circumstances or events.
No securities regulatory authority has either approved or disapproved of the
contents of this press release. Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.

Inside Information
This announcement does not contain inside information.

Qualified Person Statement
The technical information presented in this press release has been approved by
James Gilbertson CGeol, VP Exploration for Amaroq and a Chartered Geologist
with the Geological Society of London, and as such a Qualified Person as
defined by NI 43-101.

Mr. Gilbertson has reviewed and approved the scientific and technical
information contained in this news release. Specifically, Mr Gilbertson has
reviewed the sampling and analytical procedures described and considers the
data to be reliable for the purpose of this disclosure.

Glossary

 Au   gold               
 Cu   Copper             
 g    grams              
 g/t  grams per tonne    
 ppm  Parts per million  
 km   kilometres         
 koz  thousand ounces    
 m    meters             
 oz   ounces             
 t    tonnes             



(1) Refers to the quantity of gold processed during 2025 and includes the
estimated amount (quantity) of concentrate which was subsequently poured on 1
January 2026, in order to capture efficiencies in the pouring process