TR-1 Notification and Block Listing Return

Reykjavík, Oct. 24, 2025 (GLOBE NEWSWIRE) -- Amaroq Ltd.
(“Amaroq” or the “Company”)

TR-1 Notification and Block Listing Return

TORONTO, ONTARIO – 24 October 2025 – Amaroq Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ, OTCQX: AMRQF), an independent mine development corporation focused on unlocking Greenland’s mineral potential, has received a TR-1 notification from its shareholder JLE Group following recent share transactions.

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:Amaroq Ltd. 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) Non-UK issuerX 2. Reason for the notification (please mark the appropriate box or boxes with an “X”) An acquisition or disposal of voting rightsX 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 NameJLE Property Limited, JLE Newco Ltd. City and country of registered office (if applicable)Lichfield, England 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:23/10/2025 6. Date on which issuer notified (DD/MM/YYYY):24/10/2025 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 reached2.91 % 2.91%13,222,545 Position of previous notification (if
applicable)4.01% 4.01%18,222,545 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) IS000003456913,222,545 2.91% SUBTOTAL 8. A13,222,5452.91% B 1: Financial Instruments according to DTR5.3.1R (1) (a) Type of financial instrumentExpiration
date xExercise/
Conversion PeriodNumber 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 instrumentExpiration
dateExercise/
Conversion PeriodPhysical or cash
SettlementNumber 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) issuerXFull 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) 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 thresholdTotal of both if it equals or is higher than the notifiable threshold 10. In case of proxy voting, please identify:Name of the proxy holder The number and % of voting rights held The date until which the voting rights will be held 11. Additional informationThis reflects the holdings of JLE Property Ltd and JLE Newco Ltd, each forming part of distinct corporate groups under the same UBO.

Place of completionReykjavik, IcelandDate of completion24/10/2025

Block Listing Six Monthly Return

Name of applicant:Amaroq LtdName of scheme:Amaroq Ltd. Stock Option PlanPeriod of return:From:23 April 2025To:23 October 2025Balance of unallotted securities under scheme(s) from previous return:9,160,981Plus: 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):0Less: Number of securities issued/allotted under scheme(s) during period (see LR3.5.7G):0Equals: Balance under scheme(s) not yet issued/allotted at end of period:9,160,981Number and class of securities originally admitted and the date of admission9,437,395 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 SecretaryTelephone number of contact:+354 774 06 10

Enquiries:

Amaroq Ltd.

Ed Westropp, Head of BD and Corporate Affairs                         
+44 (0)7385 755711
[email protected]

Eddie Wyvill, Corporate Development                         
+44 (0)7713 126727
[email protected]

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.