(“Amaroq” or the “Company”)

Block Listing Six Monthly Return

TORONTO, ONTARIO – October 24, 2024 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ First North: AMRQ), an independent mine development company with a substantial land package of gold and strategic mineral assets in South Greenland, today makes the following notification pursuant to Schedule Six of the AIM Rules for Companies, regarding its existing block admission arrangements in connection with the Amaroq Minerals Stock Option Plan.

Name of applicant: Amaroq Minerals Ltd
Name of scheme: Amaroq Minerals ltd. Stock Option Plan
Period of return: From: 01 May 2024 To: 24 October 2024
Balance of unallotted securities under scheme(s) from previous return: 10,231,858
Plus: The amount by which the block scheme(s) has been increased since the date of the last return (if any increase has been applied for): 0
Less: Number of securities issued/allotted under scheme(s) during period (see LR3.5.7G): 974,371
Equals: Balance under scheme(s) not yet issued/allotted at end of period: 9,257,487
Number and class of securities originally admitted and the date of admission 9,437,395 Common Shares of no par value each, admitted on 24 November 20221,330,000 Common Shares of no par value each, admitted on 6 February 202319,480 Common Shares of no par value each, admitted on 10 August 2023
Name of contact: Anna Solotova, VP Corporate Legal and Corporate Secretary
Telephone number of contact: +354 774 06 10

Enquiries:

Amaroq Minerals Ltd.Eldur Olafsson, Executive Director and CEO eo@amaroqminerals.com

Eddie Wyvill, Corporate Development+44 (0)7713 126727ew@amaroqminerals.com

Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)Callum StewartVarun TalwarSimon MensleyAshton Clanfield+44 (0) 20 7710 7600

Panmure Liberum (UK) Limited (Joint Broker)Scott MathiesonKieron Hodgson+44 (0) 20 7710 7600

Camarco (Financial PR)Billy CleggElfie KentFergus Young+44 (0) 20 3757 4980

For Corporation updates:Follow @Amaroq_Minerals on X (Formerly known as Twitter)Follow Amaroq Minerals Ltd. on LinkedIn

Further Information:

About Amaroq MineralsAmaroq 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 InformationThis announcement does not contain inside information.

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