Block Listing Six Monthly Return and Holding(s) in Company

/EIN News/ -- Reykjavík, April 23, 2025 (GLOBE NEWSWIRE) -- (“Amaroq” or the “Company”)

Block Listing Six Monthly Return and Notification of Major Holdings

TORONTO, ONTARIO – 23 April 2025 – Amaroq Minerals Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ), an independent mining company with a substantial land package of gold and strategic mineral assets in Southern 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:	24 October 2024	To:	23 April 2025
Balance of unallotted securities under scheme(s) from previous return:	9,257,487
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):	96,506
Equals: Balance under scheme(s) not yet issued/allotted at end of period:	9,160,981
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 2022 1,330,000 Common Shares of no par value each, admitted on 6 February 2023 19,480 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

Notification of Major Holdings

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Amaroq Minerals Ltd.

1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)

Non-UK issuer

X

2. Reason for the notification (please mark the appropriate box or boxes with an “X”)

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Details of person subject to the notification obligation

Name

Kvika banki hf.

City and country of registered office (if applicable)

Reykjavík, Iceland

4. Full name of shareholder(s) (if different from 3.)

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reached:

16 April 2025

6. Date on which issuer notified (DD/MM/YYYY):

22 April 2025

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer (8.A + 8.B)

Resulting situation on the date on which threshold was crossed or reached

2,92%

2,92%

11,723,764

Position of previous notification (if applicable)

3,88%

3,88%

15,400,481

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

A: Voting rights attached to shares

Class/type of shares ISIN code (if possible)

Number of voting rights

% of voting rights

Direct (DTR5.1)

Indirect (DTR5.2.1)

Direct (DTR5.1)

Indirect (DTR5.2.1)

CA02312A1066

11,723,764

2,92%

SUBTOTAL 8. A

11,723,764

2,92%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)

Type of financial instrument

Expiration date

Exercise/ Conversion Period

Number of voting rights that may be acquired if the instrument is exercised/converted.

% of voting rights

SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)

Type of financial instrument

Expiration date

Exercise/ Conversion Period

Physical or cash Settlement

Number of voting rights

% of voting rights

SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer

Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)

X

Name

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

Kvika banki hf.

0,67% (2,691,855)

Kvika Asset Management.

2,25% (9,031,909)

10. In case of proxy voting, please identify:

Name of the proxy holder

N/A

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional information

Place of completion	Reykjavík, Iceland
Date of completion	23 April 2025

Enquiries:

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

Ed Westropp, Head of BD and Corporate Affairs
+44 (0)7385755711
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
+44 (0) 20 7886 2500

Canaccord Genuity Limited (Corporate Broker)
James Asensio
Harry Rees
Tel: +44 (0) 20 7523 8000

Camarco (Financial PR)
Billy Clegg
Elfie Kent
Fergus 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 Minerals
Amaroq’s 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 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 Minerals 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.