REG - Amaroq Minerals Ltd - Amaroq signs MoU with ABD Solutions

Amaroq MineralsAnnouncement

15/08/2022 07:00

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RNS Number : 9406V  Amaroq Minerals Ltd  15 August 2022

("Amaroq Minerals" or the "Company")

Amaroq signs MOU with ABD Solutions

TORONTO, ONTARIO - August 15, 2022 - Amaroq Minerals Ltd. (AIM, TSXV: AMRQ),
an independent mining company with a land package of gold and strategic
mineral assets covering an area of 7,615.85km(2) in Southern Greenland, is
pleased to announce that it has now signed a Memorandum of Understanding
("MoU") with ABD Solutions, a business within  AB Dynamics PLC, to
investigate the potential for the introduction of vehicle autonomy systems for
various mining vehicles at the Nalunaq site in Greenland.

 

Highlights:

·    ABD Solutions ("ABDS") and its affiliated companies have over 35
years' experience in the control and automation of vehicles using driving
robots and control systems.  With a mission to accelerate the transition to
autonomy, they offer specialised vehicle agnostic driverless automation
solutions capable of working across a wide range of off-highway environments.

 

·    Amaroq Minerals (Amaroq) is currently planning a pilot mining and
processing operation at its Nalunaq Project in Greenland the aim of which is
prove the continuity of the mineralisation and provide input to a feasibility
study and detailed engineering which would provide the design basis for a
subsequent full scale mine.

 

·    Amaroq intends to work closely with ABDS during this process to
enable ABDS to adapt its existing driverless automated vehicle management
solutions to the specific environmental and vehicular requirements of the
Nalunaq site. The MoU sets out the principal terms and conditions on, and
subject to which, Amaroq Minerals is willing to enter detailed discussions
regarding this process.

 

·    The long-term goal of the MoU is to provide a framework for ABDS to
deliver the support, software and hardware solutions needed for the Company to
operate a diverse range of automation equipment and retrofittable mining
vehicles on the Nalunaq site in Greenland. These vehicles would be operated
automatically and supervised from a central control room, therefore, improving
safety and streamlining the mining process, both operationally and
financially.

 

Amaroq's strategy prior to beginning the next stage of redevelopment at
Nalunaq is to explore innovative technologies so as to operate in the most
sustainable way as well as to leverage existing mine infrastructure. ABDS'
mission is to accelerate the transition to autonomy by providing retrofit
solutions that enable the automation of conventional vehicle fleets rapidly
and cost-effectively.

 

Eldur Olafsson, CEO of Amaroq Minerals, commented:

"We are delighted to announce our planned partnership with ABD Solutions a
well-regarded automation company with substantial experience working with
organisations to accelerate the transition to autonomy. We are focussed on
ensuring that we seek out and deploy innovative technology across Nalunaq, and
going forward the rest of the assets within our extensive licence area, as we
believe that this will allow us to introduce new skill sets to the workforce
in Greenland and to operate safely, efficiently and sustainably. The team look
forward to working closely with ABDS and utilise their considerable knowledge
throughout the Nalunaq development process."

Enquiries:

Amaroq Minerals Ltd.

Eldur Olafsson, Executive Director and CEO

+354 665 2003

eo@amaroqminerals.com

 

Eddie Wyvill, Investor Relations

+44 (0)7713 126727

ew@amaroqminerals.com

 

Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)

Callum Stewart

Simon Mensley

Ashton Clanfield

+44 (0) 20 7710 7600

 

Panmure Gordon (UK) Limited (Joint Broker)

 

John Prior

Hugh Rich

Dougie Mcleod

+44 (0) 20 7886 2500

 

SI Capital Limited (Joint Broker)

Nick Emerson

Charlie Stephenson

+44 (0) 1483 413500

 

 

Camarco (Financial PR)

Billy Clegg

Elfie Kent

Charlie Dingwall

+44 (0) 20 3757 4980

For Company updates:

Follow @Amaroq_Minerals on Twitter

Follow Amaroq Minerals Ltd. on LinkedIn

 

Further Information:

 

About Amaroq Minerals

Amaroq Minerals' 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 Project, an advanced exploration stage property with an
exploitation license including the previously operating Nalunaq gold mine. The
Corporation has a portfolio of gold and strategic metal assets covering
7,615.85km(2), the largest mineral portfolio in Southern Greenland covering
the two known gold belts in the region. Amaroq Minerals is incorporated under
the Canada Business Corporations Act and wholly owns Nalunaq A/S, incorporated
under the Greenland Public Companies Act.

 

Forward-Looking Information

This press release contains forward-looking information within the meaning of
applicable securities legislation, which reflects the Company's current
expectations regarding future events and the future growth of the Company'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 Company'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 Company'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 Company and speaks
only as of the date on which it is made. Except as required by applicable
securities laws, the Company 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.

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