REG-New Gold Discoveries Across Greenland with Grades up to 38.7 g/t Au

AmaroqAnnouncement

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Reykjavík, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Amaroq Ltd.
(“Amaroq” or the “Company”)

New Gold Discoveries Across Greenland with Grades up to 38.7 g/t Au

TORONTO, ONTARIO – 28 October 2025 – 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
the initial results from its 2025 field exploration programme on multiple
satellite gold projects in South Greenland, following interpretation by the
Company’s technical team. This update covers targets outside of the flagship
Nalunaq Mine and the Nanoq advanced exploration project, with those results to
be reported in future announcements once assay results are received before
year end.

Highlights

Nanortalik Gold Belt  
* New high-grade gold discovery at Vagar: up to 28.6 g/t Au over a 2 km ridge
at Qoorormiut North Ridge (Q-North Ridge). Now being advanced towards scout
drilling.
* Vagar Ridge re-interpreted: updated geological understanding reveals new
high-grade potential and defines follow-up drill targets.
* Gold-copper system discovered at Anoritooq: Isortup Qoorua, 50km north of
Nalunaq, with results up to 38.7 g/t Au and 1.98% Cu, confirming a high-grade
Au-Cu zone for follow-up. Amaroq intend to test the potential for Isortup
Qoorua to host a significant satellite gold resource.
* New orogenic gold targets developed adjacent to the Nalunaq Gold Mine at
Napasorsuaq with results up to 3.58g/t Au and 0.54% Cu.
New gold zone in South West Greenland
* New finds at Tartoq & Ippatit: Gold-bearing quartz veins up to 3.1 g/t Au
(Tartoq) and 0.7 g/t Au (Ippatit) discovered in previously undocumented zones
of quartz veining in the Nanortalik Gold Belt, close to the Nanoq project.
* New gold discovery at Grænseland with up to 3.9 g/t Au in quartz veins from
0.5 to 2 meters in thickness and over a strike length of approximately 500m.
Extensive regional success
* 540+ samples collected across 11 licences, confirming multiple new gold
zones and validating historic showings.
James Gilbertson, VP Exploration of Amaroq, commented:
“The 2025 regional exploration programme, which involved over 540 surface
samples across 11 licences, confirmed multiple new gold zones, validated
historical showings, and defined several drill-ready targets for the 2026
field season. We uncovered high-grade gold of up to 38.7 g/t in new zones
within the satellite reaches of our Nalunaq mine, underlining the substantial
upside potential across the wider Nanortalik Gold Belt. The discovery at
Q-North Ridge, in particular, defines a 2 km long structure that, should
grades be continuous, could be a future satellite source of ore for the
Nalunaq processing plant. Confirmation of a gold-copper system at Isortup
Qoorua and the new veins identified at Tartoq and Grænseland demonstrate that
our systematic exploration programme is yielding tangible discoveries.
Collectively, these results reaffirm the strategic nature of Amaroq’s gold
portfolio and our ability to continue building a multi-asset pipeline within
one of Greenland’s most prospective gold districts. We look forward to
following up on these high-priority zones and advancing the targets toward
drilling, supporting our long-term growth in Greenland.”

2025 Exploration Programme Overview – Satellite Gold Projects within
Nanortalik gold belt
During Summer 2025, Amaroq’s exploration team carried out an extensive field
programme focused on regional gold targets across South and South-West
Greenland. This work was the first full-season exploration campaign on the
Company’s gold satellite prospects, since the commencement of Nalunaq mining
operations, and its aim was to identify and advance additional gold sources
that could eventually supplement production from the Nalunaq mine or form
standalone development projects. The programme spanned multiple licences
across the Nanortalik gold belt, including Vagar, Anoritooq as well as the
Tartoq greenstone belt, and within the Company’s prospecting licences. Work
involved geological mapping, prospecting and geochemical sampling, in both
historical showing areas and entirely new zones, generated from prior remote
sensing and structural interpretation. Field activities ran from mid-June to
mid-September 2025, with a total of 542 rock samples collected for assay.

This programme delivered multiple new gold discoveries and important
geological advances across Amaroq’s satellite projects in South Greenland,
expanding the Company’s pipeline of future development opportunities beyond
the Nalunaq Gold Mine.

Vagar (Nanortalik Gold Belt):
A new high-grade gold zone, Q-North Ridge, was discovered with assays up to
28.6 g/t Au across a 2 km alteration corridor — a major new find in the
belt. Structural reinterpretation at Vagar Ridge has identified a folded mafic
dyke hosting high-grade shoots, generating new drill targets for 2026. Nearby
and in close proximity to Nalunaq, Napasorsuaq returned up to 3.6 g/t Au and
0.54% Cu, confirming Nalunaq-style mineralisation and the potential for future
satellite feed.

Anoritooq (Nanortalik Gold Belt):
Sampling at Isortup Qoorua confirmed a high-grade gold-copper system with
values up to 38.7 g/t Au and 1.98% Cu, marking a major new discovery along the
Nanortalik Belt. The potential mineralised corridor extends for several
kilometres and will now be advanced toward drilling.

Ippatit (Nanortalik Gold Belt):
Fieldwork identified a network of multi-metre wide quartz veins, that, from
float sampling, appears to be carrying anomalous gold (up to 0.68 g/t Au),
representing a newly recognised mineralised system with potential for higher
grades at depth.

Tartoq (Southwest Greenland):
New gold-bearing quartz veins were discovered at Iterlak, with assays up to
3.14 g/t Au, extending the known gold footprint on this underexplored
greenstone belt.

Grænseland (Southwest Greenland):
Initial reconnaissance discovered quartz veins grading up to 3.92 g/t Au over
500 m of strike highlighting the wider potential of Amaroq’s West Greenland
licences.

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
Nikhil Varghese
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.

Qualifying Statement: The surface sampling results reported herein are
selective and may not be representative of the overall mineralisation present