Mr. Eldur Olafsson reports

DIRECTOR/PDMR SHAREHOLDING - NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES (PDMRS)

Eldur Olafsson, chief executive officer of Amaroq Ltd., and Ellert Arnarson, chief financial officer of the company, have acquired 95,693 and 45,000 common shares of no par value in the company, respectively.

About Amaroq Ltd.

Amaroq's principal business objectives are the identification, acquisition, exploration and development of gold and strategic metal properties in southern Greenland. The company's principal asset is a 100-per-cent 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 is continued under the Business Corporations Act (Ontario) and wholly owns Nalunaq AS, incorporated under the Greenland Companies Act.