Announcement • Jun 29
Amaroq Ltd Commences Drilling At Ilua Rare Earth Project in South Greenland Amaroq Ltd. announced the commencement of drilling at the Ilua Pegmatite rare earth element prospect, within the Nunarsuit licence area in South Greenland, held within the Gardaq Joint Venture. The programme marks the first of the Company’s 2026 exploration campaigns and represents the next phase of evaluation of one of Greenland’s emerging conventional rare earth element targets. The 2026 programme is designed to test three initial scout drill targets, distributed along the Ilua Pegmatite Zone, a prospective, conventional rare earth element-hosting system, extending for at least 5km of strike. Drilling will be supported by detailed geological mapping, channel sampling, and mineralogical studies aimed at further defining the geometry, continuity, and rare earth mineralogy of the system. The analysis will also start to define the economic potential and best commercialisation options. Previous exploration at Ilua identified significant rare earth element enrichment within a series of pegmatite bodies, exposed at surface across the southern part of the licence area. In 2025, surface sampling returned grades of up to 2.3% total rare earth oxides, with approximately 27% comprising valuable heavy rare earth elements and with favourable distribution of critical magnet rare earths, including neodymium, praseodymium, dysprosium and terbium, exhibiting low radionuclide contents, below the Greenland government’s regulatory threshold. The current programme is intended to provide the first subsurface assessment of these targets and advance the Company’s understanding of the scale and economic potential of the mineralised system. Provisional mineralogical studies have confirmed the presence of several easily processable and high value rare earth element-bearing minerals including britholite (rare earth element-rich apatite), monazite, and zircon. Ongoing mineralogical studies indicate the rare earth element mineralisation may be hosted within more conventional rare earth element-bearing minerals, including monazite. Monazite is one of the world's most important commercial rare earth element minerals and forms the basis of several advanced and producing rare earth element projects globally, including Mt Weld in Australia, Eneabba in Australia and Steenkampskraal in South Africa, providing encouragement that the Ilua Project may offer a more straightforward development pathway, than some of the more mineralogically complex rare earth element projects elsewhere within the Gardar Province. Announcement • Jun 11
Amaroq Ltd. Confirms Production Guidance for the First Half of 2026; Reiterates Production Guidance for the Fiscal 2026 Amaroq Ltd. confirmed production guidance for the first half of 2026. For the first half, the company confirmed the production range of between 7,000 and 10,000 oz of gold.
The Company reiterated fiscal 2026 gold production guidance of 25-35 koz. Announcement • May 14
Amaroq Ltd. Reiterates Production Guidance for the Full Year of 2026 Amaroq Ltd. reiterated production guidance for the full year of 2026. For the period, the Company reiterates FY2026 gold production guidance of 25 koz to 35 koz and confirms current trading in line with this range, with production expected to be weighted towards the second half of 2026, following commissioning of the flotation circuit. Announcement • May 05
Amaroq Ltd. to Report Q2, 2026 Results on Aug 13, 2026 Amaroq Ltd. announced that they will report Q2, 2026 results on Aug 13, 2026 Announcement • Mar 28
Amaroq Ltd. Reiterates Production Guidance for the First Half of 2026 and Fiscal Year 2026 Amaroq Ltd. reiterated production guidance for the first half of 2026 and fiscal year 2026. for the half year, performance is aligned with the H1 2026 production guidance range of 7–10 koz.
for the year, the company expects production guidance of 25-35koz of gold. Announcement • Mar 11
Amaroq Ltd., Annual General Meeting, May 07, 2026 Amaroq Ltd., Annual General Meeting, May 07, 2026. Recent Insider Transactions • Feb 18
Founder recently sold Kr91m worth of stock On the 16th of February, Eldur Olafsson sold around 476k shares on-market at roughly Kr190 per share. This transaction amounted to 6.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Eldur has been a net seller over the last 12 months, reducing personal holdings by Kr166m. Announcement • Jan 21
Amaroq Ltd. Announces Significant Exploration Results from the 2025 Field Campaign at its Minturn Prospect Amaroq Ltd. announced significant exploration results from the 2025 field campaign at its Minturn prospect, north of the US Pituffik Space Base in Northwest Greenland. Indications suggest Minturn is a large-scale, mineralised system, with extensive iron oxide alteration and brecciation, similar to other well-known Iron Oxide Copper Gold ("IOCG") deposits. These results highlight Minturn's significant potential as a new IOCG discovery, in a frontier region of Greenland. The identification of what appears to be a Kiruna-style IOCG project, underpinned by extensive iron oxide alteration and very high iron grades at surface, represents a significant strategic step for Amaroq and its joint venture company, Gardaq. Additionally, the scale of the system and the presence of magnetic and electromagnetic anomalies, point to the potential for copper and gold mineralisation within a broader IOCG framework. Amaroq believe that Minturn represents a highly strategic opportunity, in which the discovery of a Kiruna-type IOCG system in this region would be of international significance, reinforcing Greenland's prospectivity for large "critical mineral" deposits, beyond gold and adding a new dimension to Amaroq's growth pipeline. Reprocessing and reinterpretation of historic geophysical datasets, has resulted in an improved geological model, revealing a significant mineralised system over a large linear 80km zone. High-grade iron assays from surface samples, returned iron (Fe) grades up to 69.5% Fe. These exceptional grades (66-69% Fe in multiple samples), underscore the presence of a significant iron-oxide core within the system. The extensive iron oxide-rich alteration discovered, is calibrated to a significant magnetic anomaly, indicative of a large and robust IOCG-style system over a ~9 km trend. Minturn represents the opportunity for Direct Shipping Ore (DSO) for Direct Reduced Iron (DRI) products. This promising reinterpretation of Minturn's geology, supported by the updated geophysical models, directly triggered Amaroq's 2025 field programme to confirm the IOCG potential at Minturn. It aligns with Amaroq's broader strategy of expanding into critical and strategic commodities in Greenland, beyond its traditional gold focus. Summary of 2025 Exploration Results: During the 2025 summer exploration campaign, Amaroq conducted detailed geological mapping, rock sampling, and geophysical surveys across the Minturn target area. These efforts identified a large mineralised system marked by magnetite-rich breccia and intense iron oxide alteration extending for roughly 9 km along the main magnetic trend. This is a significant strike length, indicating a robust iron-oxide system. The style of alteration and brecciation observed in outcrop is consistent with an IOCG environment, reinforcing the reinterpretation of Minturn as a potential Kiruna-type IOCG target. Field sampling results were highly encouraging. Surface assay grades of iron reached up to 69.5%Fe, with numerous rock samples in the 66-69% Fe range. These high grades (approaching the purity of direct-shipping magnetite ore) demonstrate the presence of a substantial high-grade magnetite core within the system. Inlayman's terms, much of the iron at Minturn is of very high quality, which is unusual and underscores the project's project's project's potential. Breakeven Date Change • Jan 15
Forecast breakeven date pushed back to 2026 The 3 analysts covering Amaroq previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of CA$49.6m in 2026. Average annual earnings growth of 83% is required to achieve expected profit on schedule. Announcement • Jan 01
Amaroq Ltd.(ICSE:AMRQ) dropped from OMX Nordic All-Share Index Amaroq Minerals Ltd removed from OMX Nordic All-Share Index. New Risk • Dec 23
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-CA$110m). Shareholders have been diluted in the past year (17% increase in shares outstanding). Announcement • Dec 05
Amaroq Ltd. Announces Results from the 2025 Resource and Exploration Drilling At the Nalunaq Gold Mine Amaroq Ltd. announced results from the 2025 resource and exploration drilling at the Nalunaq gold mine, as well as an update to exploration activities. Highlights from the successful 2025 exploration programme Core Drilling · 2,127m of underground resource conversion drilling successfully completed within Nalunaq, including significant intersections of gold up to 1,840 g/t Au over 0.5 m2. 62% of this drilling intersected mineralised Main Vein with a weighted average grade of 87.6g/t Au, verifying higher grades than the resource model predicted. These results considerably derisk near term production and provides additional confidence in the high-grade nature of the Mountain Block - the site of current Nalunaq mining operations. 4,166.5m of surface drilling has discovered that the Main Vein structure extends approximately 700m down-dip of previously mined areas, into the targeted South Deeps area. Although grades from the initial four holes are lower than in Mountain Block, the newly confirmed Main Vein down-dip extension represents significant additional future upside potential, beyond the Company's previously reported Exploration Target 3. All 2025 drilling results will be incorporated into an updated geological model ahead of the planned Mineral Resource Estimate update ("MRE5") in First Quarter 2026, which will allow for resource conversion from the Inferred to Indicated categories where relevant. Ongoing exploration activities · Underground exploration of the development levels into the western areas is continuing, evaluating potential further extensions of the Mountain Block mineral corridor. Surface drilling programme expanded to follow up on the Main Vein down-dip extension and to connect this area back toward the existing Mineral Resource. Announcement • Nov 26
Amaroq Ltd. to Report Q3, 2026 Results on Nov 12, 2026 Amaroq Ltd. announced that they will report Q3, 2026 results on Nov 12, 2026 Board Change • Nov 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Warwick Morley-Jepson was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 16
Amaroq Ltd. Provides Production Guidance for the Full Year 2025 Amaroq Ltd. provided production guidance for the full year 2025. for the year, the company expects gold production to be 6,000 oz to 7,000 oz. 
