Total Voting Rights and Notification of Transactions of a Persons Discharging Managerial Responsibilities (PDMR)

Rhea-AI Summary

Amaroq Ltd (NASDAQ Iceland: AMRQ, OTCQX: AMRQF) reports updated total voting rights and a PDMR transaction.

Following issuance of 864,806 additional common shares under share-based incentive plans, the company’s total issued share capital is 454,971,459 common shares as at 02 December 2025. The company holds no treasury shares.

Chief Executive Officer Eldur Olafsson exercised options set to expire 31 December 2025, converting 626,616 options into common shares at CAD$0.38 per share on 01/12/2025 (transaction venue: XOFF).

Reykjavík, Dec. 02, 2025 (GLOBE NEWSWIRE) -- Amaroq Ltd.
(“Amaroq” or the “Company”)

Total Voting Rights and Notification of Transactions of a Persons Discharging Managerial Responsibilities (PDMR)

TORONTO, ONTARIO – 02 December 2025 – Amaroq Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ, OTCQX: AMRQF), an independent mine development corporation focused on unlocking Greenland’s mineral potential, announces that, following the issue of 864,806 additional common shares under the Company’s share-based incentive plans, as at 02 December 2025 the Company’s share capital consists of 454,971,459 common shares of no par value each, and each with voting rights.

Given the Company does not hold any common shares in Treasury, this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in interest in, the share capital of the Company.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Eldur Olafsson
2.	Reason for the Notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Amaroq Ltd.
b)	LEI	213800Q21S5JQ6WKCE70
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Common shares of no par value in Amaroq Ltd.
	Identification code	ISIN: CA02311U1030
b)	Nature of the transaction	Exercise of options set to expire 31 December 2025
c)	Price(s) and volume(s)	Price(s) Volume(s) CAD$0.38                                    626,616
d)	Aggregated information:    ·Aggregated volume     ·Price	626,616     CAD$0.38
e)	Date of the transaction	01/12/2025
f)	Place of the transaction	XOFF

Enquiries:

Amaroq Ltd.
Ed Westropp, Head of BD and Corporate Affairs         
+44 (0)7385 755711
ewe@amaroqminerals.com

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

Panmure Liberum Limited (Nominated Adviser and Corporate Broker)
Scott Mathieson
Freddie Wooding
+44 (0) 20 7886 2500

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

Camarco (Financial PR)
Billy Clegg
Elfie Kent
Fergus Young
+44 (0) 20 3757 4980

Further Information:
About Amaroq

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 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.

FAQ

How many total Amaroq shares were outstanding after the 02 December 2025 issuance (AMRQF)?

Total issued share capital was 454,971,459 common shares as at 02 December 2025.

How many shares were issued under Amaroq's share-based incentive plans on 02 December 2025 (AMRQF)?

864,806 additional common shares were issued under the company's share-based incentive plans.

What PDMR transaction did Amaroq disclose on 01 December 2025 involving CEO Eldur Olafsson (AMRQF)?

CEO Eldur Olafsson exercised 626,616 options at CAD$0.38 per share on 01/12/2025; the options expire 31 December 2025.

Does Amaroq hold any treasury shares to adjust the voting rights denominator (AMRQF)?

No, the company reported it does not hold any common shares in treasury.

What is the ISIN for Amaroq common shares referenced in the 02 December 2025 notice (AMRQF)?

The ISIN for the common shares is CA02311U1030.

Where was the CEO option exercise for Amaroq reported as having occurred (AMRQF)?

The transaction was reported as taking place off-market at venue XOFF.