Ongoing Copper Exploration Activities In South Greenland

TORONTO - James Gilbertson, VP Exploration of Amaroq Minerals Ltd., said, “Building on the successful 2023 drilling program at Target West, Amaroq has rigorously interpreted these results, alongside recently received geophysical data. With the assistance of leading independent copper industry experts, we continue to define the emerging South Greenland Copper Belt. This work has now confirmed the region's first copper porphyry system as well as helped to identify 24 further high-potential targets across this belt. Amaroq, through its Gardaq Joint venture, believes that these results warrant further exploration efforts across a broader area of the belt to identify further targets. Our 2024 field program will leverage the knowledge developed so far on Target West and direct exploration efforts on these new high-potential targets."

The South Greenland Copper Belt is defined by numerous copper showings and historical small scale operations running ~150km, from the Josva mine in the West, to multiple porphyry targets in the Johan Dahl Land zone in the East. Expert review of the 2022 and 2023 results from Target West have confirmed the project as a copper-molybdenum porphyry / intrusion related body, significantly strengthening the copper potential of this underexplored mineral belt. Interpretation suggests greater preservation potential in the East with up to 17 significant new targets defined within the Johan Dahl Land area. A data review of the 2023 Kobberminebugt geophysics has highlighted potential for further high-grade copper mineralisation at depth and across two newly defined targets.

Target generation studies coupled with the potential highlighted by Amaroq's discovery at Stendalen highlights a further 5 copper-nickel sulphide targets within the same mineral belt. The Company is now finalising the detailed plans for its 2024 exploration programme which will concentrate on the discovery and development of copper resources. Amaroq's operational readiness ensures availability of logistical and consumable requirements, should follow-up assessments be required later this year.