Person Discharging Managerial Functions

Reykjavik, Oct. 07, 2024 (GLOBE NEWSWIRE) -- (“Amaroq” or the “Company”)

Director/PDMR Shareholding - Notification of Transactions of Directors/Persons Discharging Managerial Responsibilities (PDMRs)

TORONTO, ONTARIO – October 7, 2024 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mine development company with a substantial land package of gold and strategic mineral assets in Southern Greenland, announces that it was informed that Eldur Olafsson, CEO of Amaroq Minerals, acquired a total of 300,000 common shares of no par value in the Company. This brings Eldur Olafsson's indirect total holding to 9,502,173 shares, 2.9% of the capital in the Company.

DEALING NOTIFICATION FORM

FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY

AND THEIR CLOSELY ASSOCIATED PERSONS

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 Minerals 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: Identification code:	Common shares of no par value in Amaroq Minerals Ltd. ISIN: CA02312A1066
b)	Nature of the transaction:	Purchase of common shares of no par value in Amaroq Minerals Ltd.
c)	Price(s) and volume(s):	Price(s)	Volume(s)
		CA$ 1.23	300,000
d)	Aggregated information: Aggregated volume: Average price:	300,000 CA$ 1.23
e)	Date of the transaction(s):	October 04, 2024
f)	Place of the transaction	TSXV

Enquiries:

Amaroq Minerals Ltd.
Eldur Olafsson, Executive Director and CEO
[e-mail]

Eddie Wyvill, Corporate Development
[phone]
[e-mail]

Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)
Callum Stewart
Varun Talwar
Simon Mensley
Ashton Clanfield
[phone]

Panmure Gordon (UK) Limited (Joint Broker)
Scott Mathieson
Kieron Hodgson
[phone]

Camarco (Financial PR)
Billy Clegg
Elfie Kent
Fergus Young
[phone]

For Corporation updates:
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Further Information:

About Amaroq Minerals
Amaroq Minerals' 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 past producing Nalunaq Gold mine which is due to go into production towards the end of 2024. 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 Minerals is continued under the Business Corporations Act (Ontario) and wholly owns Nalunaq A/S, incorporated under the Greenland Public 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.