REG-Total Voting Rights and Notification of Transactions of a Persons Discharging Managerial Responsibilities (PDMR)

AmaroqAnnouncement

Tue 16:45

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Reykjavík, Dec. 02, 2025 (GLOBE NEWSWIRE) -- Amaroq Ltd.
(“Amaroq” or the “Company”)

Total Voting Rights and Notification of Transactions of a Persons Discharging
Managerial Responsibilities (PDMR)

TORONTO, ONTARIO – 02 December 2025 – Amaroq Ltd. (AIM, TSX-V, NASDAQ
Iceland: AMRQ, OTCQX: AMRQF), an independent mine development corporation
focused on unlocking Greenland’s mineral potential, announces that,
following the issue of 864,806 additional common shares under the Company’s
share-based incentive plans, as at 02 December 2025 the Company’s share
capital consists of 454,971,459 common shares of no par value each, and each
with voting rights.

Given the Company does not hold any common shares in Treasury, this figure may
be used by shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or a change
in interest in, the share capital of the Company.

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 1.  Details of the person discharging managerial responsibilities / person closely associated                                                                                                             
 a)  Name                                                                                               Eldur Olafsson                                                                                     
 2.  Reason for the Notification                                                                                                                                                                           
 a)  Position/status                                                                                    Chief Executive Officer                                                                            
 b)  Initial notification/Amendment                                                                     Initial notification                                                                               
 3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor                                                                                         
 a)  Name                                                                                               Amaroq Ltd.                                                                                        
 b)  LEI                                                                                                213800Q21S5JQ6WKCE70                                                                               
 4.  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted     
 a)  Description of the financial instrument, type of instrument                                        Common shares of no par value in Amaroq Ltd.                                                       
     Identification code                                                                                ISIN: CA02311U1030                                                                                 
 b)  Nature of the transaction                                                                          Exercise of options set to expire 31 December 2025                                                 
 c)  Price(s) and volume(s)                                                                             Price(s) Volume(s) CAD$0.38 626,616                                                                
 d)  Aggregated information: ·Aggregated volume ·Price                                                  626,616 CAD$0.38                                                                                   
 e)  Date of the transaction                                                                            01/12/2025                                                                                         
 f)  Place of the transaction                                                                           XOFF                                                                                               

Enquiries:

Amaroq Ltd.
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 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% 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 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.

Inside Information

This announcement does not contain inside information