Nanoq drilling results confirm significant gold copper mineralisation

Amaroq announced excellent drilling results from its 2025 exploration program at the Nanoq gold-copper project in Greenland. The 27-hole, 4,807-meter program successfully confirmed significant gold mineralization, with results exceeding the company's expectations.

Key intercepts include: - NAN2525: 187.38 g/t Au over 1.5 meters - NAN2517: 19.6 g/t Au over 4.9 meters - NAN2515: 11.09 g/t Au over 3.7 meters - NAN2510: 3.83 g/t Au over 9.0 meters - NAN2524: 6.7 g/t Au over 7.39 meters

The VP of Exploration, James Gilbertson, stated the results provide strong confidence in Nanoq's potential to host a material gold deposit. He noted the company can now fast-track resource drilling with the goal of delivering a maiden resource in the near term. The mineralization remains open at depth, along strike, and in parallel structures.

The drill results are materially positive and significantly de-risk the Nanoq project. Coming just six days after spectacular drill results from the flagship Nalunaq mine, this news demonstrates the company's ability to execute on its exploration strategy and build a multi-asset pipeline in Greenland.

The combination of bonanza-grade intercepts (187.38 g/t Au) and broad zones of mineralization confirms Nanoq as a high-potential second asset. While still at the exploration stage, these results are strong enough to justify an aggressive drill-out for a maiden resource, as stated by management. This accelerates the timeline for Nanoq to potentially become a satellite deposit feeding the Nalunaq mill or a standalone operation.

Looking at the historical context, Amaroq has successfully transitioned from explorer to producer in the last year, funded by two major financings (£45M in June 2025 and £27.5M in Dec 2024). While the company's primary focus has been the commissioning and ramp-up of the Nalunaq mine, this news powerfully validates the exploration spending and the broader strategy of unlocking the Nanortalik Gold Belt.

The market has been waiting for confirmation that Amaroq is more than just a single-asset story. These results from Nanoq, coupled with the recent positive news from Nalunaq and the acquisition of the Black Angel project, solidify the company's position as the dominant player in Greenland with a clear path to growth. While Nalunaq's operational performance remains the key driver for near-term cash flow, the Nanoq discovery adds significant long-term value and exploration upside.

Amaroq Ltd. is a mining and exploration company with a strategic focus on Greenland. Its principal asset is the 100%-owned Nalunaq Gold Mine, a past-producing high-grade mine that achieved its first gold pour in November 2024 and is currently in the commissioning and production ramp-up phase.

Beyond Nalunaq, Amaroq is building a multi-commodity pipeline. This includes the advanced-stage Nanoq gold prospect, the newly acquired West Greenland Hub (featuring the past-producing Black Angel zinc-lead-silver mine), and a portfolio of other gold, copper, rare earth element, and strategic mineral licenses held both directly and through its 51%-owned Gardaq JV. The company's strategy is to become a full-cycle mining enterprise and the proxy for Greenland's resource development. The Nalunaq property is subject to a 1% Net Revenue Royalty capped at US$1,000,000.