REG-Discovery of Rare Earth Elements in South Greenland, in surface grab samples

AmaroqAnnouncement

04/11/2025 07:00

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Reykjavík, Nov. 04, 2025 (GLOBE NEWSWIRE) --

Amaroq Ltd.
(“Amaroq” or the “Company”)

Discovery of Rare Earth Elements in South Greenland, in surface grab samples

TORONTO, ONTARIO – 4 November 2025 – Amaroq Ltd. (AIM, TSX-V, NASDAQ
Iceland: AMRQ, OTCQX: AMRQF), an independent Greenland-focused mining company,
is pleased to announce the initial identification of conventional rare earth
element (REE) bearing mineralisation within its Nunarsuit mineral licence area
in South Greenland. The Ilua Pegmatite Zone on the Nunarsuit licence,
represents Amaroq’s first confirmed high grade REE occurrence and marks a
significant step into the REE and critical minerals space for the Company.

Highlights
* REE mineralisation with high grades of up to 2.31% Total Rare Earth Oxide
(“TREO”) confirmed at Ilua Pegmatite Zone within the Nunarsuit licence,
* Located in South Greenland's Gardar Igneous Province, which the European
Commission's Joint Research Centre believes hosts up to 20% of global REE
resources and also contains known major REE deposits, such as Kvanefjeld and
Tanbreez.
* REE assay results average 27% Heavy and 73% Light REE, with 21% comprising
the key magnet metals Neodymium, Praseodymium, Dysprosium, and Terbium.
Initial fieldwork indicates a broad REE-bearing pegmatite system that warrant
further evaluation.
* The outcrop is several meters wide and strikes ~5km. Furthermore, it is
possible there are multiple parallel structures, which the Company intends to
assess during the 2026 exploration season.
* The pegmatite systems are believed to be predominately hosted within
monazite mineralogy that may offer simpler, conventional REE processing
compared to more complicated minerology observed elsewhere in South Greenland.
Further, the average received assays are below the current government uranium
threshold.
* Amaroq’s technical team will complete further assessments with a view to
conducting a scout drilling campaign as early as Spring 2026, in order to test
the volumetrics of the prospect.
* The Nunarsuit licence is within the Amaroq operated Gardaq ApS JV and
further results from Amaroq’s 2025 non-gold exploration campaign will follow
in due course.
References to the accompanying presentation on the Ilua Pegmatite Zone results
can be accessed on the website by clicking the link below:
https://www.amaroqminerals.com/investors/presentations/

James Gilbertson, VP Exploration of Amaroq, commented:
“The confirmation of high grade REE’s on our licence area is very good
news and we are extremely encouraged by these initial results, which marks the
first entry of Amaroq into the REE space in Greenland. The fact that the REE
mineralisation appears to be hosted in low uranium, ‘traditional’
minerology is particularly encouraging; Amaroq believe that the host is likely
to be a well-understood rare earth ore mineral monazite, that typically lends
itself to conventional extraction and processing techniques.

“This potential discovery builds on our expertise in defining resources and
mine development in the region, while diversifying into critical minerals at a
time of rising global demand for these resources. Our team is looking forward
to unlocking the full value of this potential discovery with further work and
scout drilling in 2026, and we are optimistic that Nunarsuit’s rare earth
potential could add significant shareholder value alongside our existing
projects.”

Early-stage identification of REE-bearing pegmatite mineralisation considered
of strategic interest.
The identification of REE mineralisation at Nunarsuit comes as Amaroq expands
its exploration focus beyond gold. The Ilua Pegmatite Zone, situated in the
western part of the Gardar province, was a high-priority target during the
2025 field season. Geological teams conducting reconnaissance mapping and
sampling at Ilua, noted zones of coarse-grained pegmatite, enriched in unusual
accessory minerals. Subsequent analysis confirmed elevated rare earth element
signatures, associated with phosphate minerals. Monazite, a reddish-brown rare
earth phosphate, often visible in pegmatitic granites, has previously been
identified in outcrop, indicating it as the likely host of the REE enrichment.
These results are encouraging for Amaroq, as it broadens the Company’s
commodity exposure into the critical metals sphere at a time of surging global
interest in secure rare earth supplies.

Importantly, the Nunarsuit intrusive complex (which measures roughly 16 km by
27 km in area) had seen little historical exploration for rare earths,
despite geological reports highlighting its prospective nature. Academic
studies have documented that monazite and REE-rich apatite are common in the
Nunarsuit pegmatites, corroborating Amaroq’s field observations.

Next Steps and 2026 Work Programme
Following these results, Amaroq’s technical team will assess the Ilua
Pegmatite Zone REE prospect while planning for scout drilling as part of the
2026 exploration programme. The immediate next steps involve detailed data
collection and analysis, to determine the scope and economic potential of the
mineralisation.

Detailed Sampling: A systematic sampling campaign will be designed to quantify
the grade and distribution of REEs across the pegmatite outcrops. This will
likely include channel sampling of exposed pegmatite bodies and targeted grab
samples of mineralised zones for assay. The aim is to establish average TREO
grades and identify any high-grade lenses within the broader pegmatite.

Mineralogical Studies: Comprehensive mineralogical and petrographic analyses
are being planned on collected samples. Understanding the exact mineral hosts
of the REEs (confirmation of monazite, presence of any accompanying minerals
like allanite, xenotime, or bastnäsite), will be crucial. The results will
guide preliminary metallurgical testwork, to evaluate how the REE can be
extracted.

Geophysics and Mapping: The Company will assess what ground geophysical
surveys could be used to investigate the subsurface continuation of the
pegmatite zone. Techniques such as magnetics and radiometrics (gamma-ray
spectroscopy) could be employed, as monazite typically has a thorium
signature, that a spectrometer can detect. Additionally, detailed geological
mapping around the zone would aim to trace the full extent of the pegmatite
swarm and any related structures or alteration halos.

Scout Drilling: The Company is assessing the option to deploy a rig to the
project in early 2026, to provide data on the depth potential and potential
zonation with the pegmatite system.

The outcomes of these next steps will inform a potentially more detailed drill
program or bulk sampling campaign at Nunarsuit. Amaroq will take a disciplined
approach, ensuring that all necessary data is in hand to design an effective
drilling strategy, should the project advance to that stage.

Gardar Province Context and Comparable Discoveries

South Greenland’s Gardar Igneous Province is renowned for its unique
mid-Proterozoic alkaline intrusions, which have produced significant rare
earth deposits. To the east of Nunarsuit lie the Ilímaussaq intrusive
complexes, hosting deposits such as Kvanefjeld and Tanbreez. Kvanefjeld
(Kuannersuit) hosts a Measured and Indicated Mineral Resources of 451Mt @
1.14% TREO with a further 559Mt @ 1.1% TREO in the inferred category(1), and
is often cited as one of the largest undeveloped REE resources in the world.
Tanbreez (Kringlerne), located only ~15 km from Kvanefjeld, similarly boasts
Indicated Mineral resource of 25.4Mt @ 0.37% TREO and 1.37% ZrO(2) as well as
19.45Mt @ 0.39% TREO and 1.42% ZrO(2) in the Inferred category(2) with a total
conceptual exploration target of over 4 billion tonnes (chiefly eudialyte
hosted light REEs, along with high zirconium) and was granted a mining license
in 2020. These deposits illustrate the significant REE endowment of the Gardar
Province have drawn international attention to South Greenland, as a strategic
source of critical minerals.

Geologically, Amaroq’s Nunarsuit complex shares the same magmatic lineage as
Kvanefjeld and Tanbreez – all are products of the Gardar rift-related
magmatism ~1.13 billion years ago. The REE mineralisation in these systems is
typically associated with late-stage magmatic differentiates, (pegmatites,
aplites and hydrothermal phases) within the broader alkaline igneous
complexes. At Kvanefjeld, the REEs occur largely in steenstrupine (a complex
silicate mineral that also contains uranium and thorium) and in eudialyte-rich
zones. At Tanbreez, REEs are chiefly hosted in eudialyte, a sodium-zirconium
silicate mineral typical of peralkaline syenites. These exotic minerals
testify to the highly evolved, agpaitic nature of the Ilímaussaq intrusions.

The Ilua Pegmatite Zone at Nunarsuit appears to represent a different style of
mineralisation – more akin to granitic pegmatite-hosted REE systems. The
presence of monazite (while this has not yet been confirmed as the key host
mineral) suggests a LREE-dominated assemblage formed in a peraluminous to
mildly alkaline granite-pegmatite environment. This similar geological
foundation (a Gardar-age intrusion with late-stage pegmatites) to the known
deposits, but with a different dominant mineralogy, could mean Nunarsuit hosts
a complementary type of REE deposit within the province. Amaroq’s
exploration team is drawing on analogues from both, classic granite pegmatite
REE deposits and Gardar-style alkaline complexes, as they interpret the Ilua
findings. The Company believes that the Gardar province’s western extent,
where Nunarsuit is located, has been under-explored for REEs, and the Ilua
Pegmatite discovery may represent a previously underexplored part of the
Gardar Province.

Sampling and QAQC Disclosure 
A series of rock chip samples were collected from the southern areas of the
Nunarsuit license around 60.697464N,-48.004247E. Rock chip samples were
collected from outcrops using geological hammers and placed into calico cotton
sample bags with a numbered sample ticket.

All samples were packaged and sent to an accredited laboratory, ALS
Geochemistry, Loughrea, Ireland, for analysis. Preparation scheme PREP-31BY
was used on all samples. This involves crushing to 70% under 2 mm, rotary
split off 1 kg, and pulverizing the split to better than 85% passing 75
microns. Samples were then analysed using 50 g fire assay method Au-ICP22 and
multielement method ME-MS61r which uses a four-acid digestion (perchloric,
nitric, hydrofluoric and hydrochloric acids) paired with ICP-MS and ICP-AES
analysis for 60 elements including REE. All samples were analysed for Si, Ti
and Zr using portable-XRF method pXRF-34. Four samples were analysed using
lithium borate fusion method ME-MS85 for overlimit grades of Nb, Nd, Y and Zr,
and method Zn-OG62 for overlimit grades of Zn.

Grab sample QAQC procedures consisted of the systematic blanks, and field
duplicates at a rate of 1 in 20 or 5% per QA/QC type. In addition, ALS insert
blanks and standards into the analytical process.

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 objectives are the identification, acquisition,
exploration, and development of gold and strategic metal properties in
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.

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.

In terms of the Mineral Resource stated for Kvanefjeld and Tanbreez, the QP
has been unable to verify the information, and that the information is not
necessarily indicative to the mineralization on the property that is the
subject of the disclosure.

(1) SRK Consulting (UK) Ltd - Energy Transition Minerals company disclosure
February 12, 2015
(2) Agricola Mining Consultants PTY Ltd – Independent Technical Assessment
Report and S-K 1300 Technical Report Summary on the Tanbreez rare Earth
Project in Greenland; 12 March 2025