{"success":true,"data":{"pressRelease":{"id":"102151","rtpr_id":"nGNX3tsq8g","ticker":"AMRQ","exchange":"LSE","all_tickers":["AMRQ"],"title":"Updated Mineral Resource Estimate and publication of Competent Persons Report","author":"Globe Newswire","published_at":"2026-07-29T13:10:00.436Z","article_body":"Reykjavík, July 29, 2026 (GLOBE NEWSWIRE) --\n\nAmaroq Ltd.\n(“Amaroq” or the “Company”)\n\nUpdated Mineral Resource Estimate (“MRE5”) and publication of Competent\nPersons Report (“CPR”)\n\nUpdated Nalunaq MRE Exceeds 500koz at 30.35g/t Au\n\n10.6% Increase in Indicated Gold Resources Strengthens the Pathway Towards a\nMaiden Mineral Reserve\n\n29 July 2026 – Amaroq Ltd. (AIM, NASDAQ Iceland: AMRQ, OTCQX: AMRQF), an\nindependent mine development company focused on unlocking Greenland’s\nmineral potential, is pleased to announce MRE5 for its 100%-owned Nalunaq gold\nmine in South Greenland. MRE5 for Nalunaq has been published this morning\nalongside the updated CPR for Nalunaq and the rest of the Amaroq Greenland\nportfolio, in conjunction with the proposed admission of the Company’s\ncommon shares to the equity shares (commercial companies) category of the\nOfficial List of the Financial Conduct Authority and to trading on the main\nmarket for listed securities of the London Stock Exchange.\n\nMRE5 has been independently prepared by Bara Consulting Ltd. (“Bara”) and\nhas an effective date of 1 December 2025.\n\nHighlights\n* Total Mineral Resources have increased to 504 koz of contained gold,\ncomprising 174 koz in the Indicated category and 329 koz in the Inferred\ncategory, at an average grade of 30.35g/t Au, consistent with the high-grade\nnature of the Nalunaq deposit.\n* The Indicated Mineral Resource category increased in contained gold by 10.6%\nto 174 koz, comprising 163.3kt at 33.20g/t Au, relative to MRE4, more than\nreplacing depletion from mining activities up to the MRE5 effective date of 1\nDecember 2025.\n* Inferred Mineral Resources increased to 329 koz, comprising 352.8kt at\n29.03g/t Au. Total contained gold increased by 4.1%.\n* The increase in Indicated Mineral Resources was principally driven by the\nsuccessful 2025 underground infill drilling and development sampling\nprogramme, which allowed the Indicated classification boundary to be extended\nwithin the Upper Mountain Block.\n* MRE5 incorporates 6,467m of new drilling from 11 surface and 30 underground\ndrillholes, together with 119 channel samples and 165 chip samples collected\nduring 2025.\n* The Mineral Resource remains highly resilient to changes in cut-off grade.\nBara estimates that doubling the cut-off grade to approximately 12g/t Au would\nreduce contained gold by only approximately 12%.\n* The updated estimate provides a strengthened technical foundation for\nongoing mine planning, resource conversion drilling and the studies required\nto support the declaration of a maiden Mineral Reserve.\n* Exploration Target remaining of between 400kt and 2.2Mt at grades of\n10–30g/t Au has been identified for additional Main Vein potential. (The\nidentified 75 vein and extensions to the Main Vein within the South Block\nDeeps area are not included in this exploration potential). The Exploration\nTarget is conceptual in nature and is not a Mineral Resource.\n* MRE5 does not include the recently announced high-grade intersections from\nongoing underground drilling, which post-date the estimate and provide clear\npotential upside for future Mineral Resource updates.\nJames Gilbertson, VP Exploration, commented:\n\n“Crossing the half-million-ounce threshold at an average grade of more than\n30g/t Au is an important milestone for Nalunaq and further confirms its\nposition as an exceptionally high-grade gold deposit.\n\n“More significant than the headline growth, is the 10.6% increase in\nIndicated ounces, demonstrating that our focused underground drilling and\ndevelopment sampling programmes are progressively increasing confidence in the\nresource, while replacing and adding to the ounces depleted through mining.\n\n“MRE5 provides a stronger technical foundation for short- and medium-term\nmine planning and for the technical studies required to support a maiden\nMineral Reserve. A substantial proportion of the resource, including the very\nhigh-grade MB HG2 domain, remains in the Inferred category and represents a\nclear priority for further definition drilling.\n\n“The Main Vein also remains open along strike and at depth, with significant\nconceptual potential beyond the current Mineral Resource. We will continue\nsystematic underground and surface drilling with the dual objective of\nprogressively replacing mined ounces and expanding the overall resource\nbase.”\n\nNalunaq MRE5 Mineral Resource Statement\n\nEffective date: 1 December 2025\n\n Classification  Tonnes    Gold grade   Contained gold  \n Indicated       163,300t  33.20g/t Au  174 koz         \n Inferred        352,800t  29.03g/t Au  329koz          \n Total           516,100t  30.35g/t Au  504 koz         \n\nThe Mineral Resources are 100% attributable to Amaroq through its wholly owned\nsubsidiary, Nalunaq A/S.\n\nMineral Resource Statement Notes\n1. Mineral Resources are reported in accordance with the Canadian Institute of\nMining, Metallurgy and Petroleum Definition Standards for Mineral Resources\nand Mineral Reserves dated 10 May 2014.\n2. The Mineral Resource has an effective date of 1 December 2025 and has been\ndepleted to reflect the surveyed underground mining voids as of that date.\n3. Mineral Resources are reported on an in-situ, undiluted wireframe basis\nabove a cut-off grade of 5.52g/t Au.\n4. The cut-off grade is based on a gold price of US$3,000/oz, gold recovery of\n94%, gold payability of 98.84%, a mining cost of US$164/t, processing cost of\nUS$160/t, allocated general and administrative costs of US$46/t and other\napplicable operating assumptions independently reviewed and validated by Bara.\n5. Mineral Resources are not Mineral Reserves and do not have demonstrated\neconomic viability. No Mineral Reserves have been declared for Nalunaq.\n6. Indicated Mineral Resources are principally supported by areas of\nhigh-density underground development sampling and drilling within the first\nvariogram search range.\n7. The MB HG2 domain, which contains 61.7kt at 87.89g/t Au for approximately\n174.3koz, remains entirely classified as Inferred because of the current\ndensity and distribution of drill coverage.\n8. The Competent Person and Qualified Person responsible for the Mineral\nResource Estimate is Mr James McFarlane, MCSM, CGeol, CEng, FIMMM, QMR, RPGeo,\nFIQ, of Bara Consulting Ltd.\n9. Tonnes are reported in dry metric tonnes, gold grades in grams per tonne\nand contained gold in troy ounces. Figures have been rounded and may therefore\nnot sum precisely.\n10. MB means Mountain Block, TB means Target Block and SB means South Block.\nComparison with MRE4\nMRE5 supersedes the Mineral Resource Estimate announced by the Company on 28\nMarch 2025, which had an effective date of 23 February 2025.\n\n Classification  MRE4 contained gold  MRE5 contained gold  Change  \n Indicated       158 koz              174 koz              +10.6%  \n Inferred        326 koz              329 koz              +0.9%   \n Total           484 koz              504 koz              +4.1%   \n\nThe principal changes relative to MRE4 are:\n* Extension of the Indicated Mineral Resource classification within the Upper\nMountain Block, supported by the 2025 underground infill drilling and\ndevelopment sampling programme.\n* Improved definition of the Main Vein and associated high-grade domains from\nunderground drilling, channel sampling and chip sampling.\n* Incorporation of mining depletion and updated underground void surveys\nthrough to 1 December 2025.\n* Updated operating and economic assumptions reflecting the transition to an\nowner-operated mining model and the commissioning of the full gravity and\nflotation process flowsheet.\n* Application of a revised cut-off grade of 5.52g/t Au.\nMRE5 Database and Estimation Methodology\nMRE5 incorporates drilling and sampling completed through the 2025 field\nseason. The new information comprises:\n* 11 surface diamond drillholes;\n* 30 underground diamond drillholes;\n* 6,467m of new drilling;\n* 119 underground channel samples; and\n* 165 underground chip samples.\nThe 2025 underground programme was concentrated within the Upper Mountain\nBlock, where increased data density has supported the extension of the\nIndicated Mineral Resource classification.\n\nThe surface drilling programme tested the southern continuation of the Main\nVein within the lower Valley area, extending the interpreted expression of the\nmineralised structure beyond that used for MRE4.\n\nThe full MRE5 database comprises drilling and sampling information accumulated\nsince the initial exploration of Nalunaq in the early 1990s. The resource\nmodel incorporates geological interpretation, domain-based grade estimation,\nvariography, high-grade treatment and validation against drilling, underground\ndevelopment sampling and surveyed mine workings.\nMRE5 continues to model the deposit within separate high and lower-grade\nestimation domains to represent the geological distribution and nugget effect\ncharacteristic of Nalunaq’s coarse-gold mineralisation.\n\nNo Measured Mineral Resources have been declared. The current availability of\nhistorical quality-control records and the maturity of mine-to-mill\nreconciliation data do not yet support classification at the Measured level.\n\nCut-off Grade and Resource Resilience\nMRE5 is reported above a cut-off grade of 5.52g/t Au, compared with the\n5.90g/t Au cut-off applied in MRE4.\n\nThe revised cut-off grade reflects updated mining, processing and operating\ncost information, together with a US$3,000/oz long-term gold price assumption\nand a 94% combined gravity and flotation recovery assumption.\n\nThe resource demonstrates low sensitivity to increasing cut-off grade because\nof the high-grade nature of the deposit. Bara estimates that increasing the\ncut-off grade to approximately 12g/t Au would reduce the total contained gold\nwithin the Mineral Resource by only approximately 12%.\n\nAs part of its assessment of reasonable prospects for eventual economic\nextraction (“RPFEEE”), Bara also undertook Mineable Shape Optimiser\n(“MSO”) work using mining parameters consistent with the cut-off grade\nassumptions and Amaroq’s current operating parameters. This work confirmed\nthat the reported undiluted MRE5 remains well aligned with a mining-dilution\nassessment at practical minimum stoping dimensions, with the variance between\ndiluted and undiluted contained metal assessed by Bara as immaterial.\n\nNalunaq Exploration Target\nIn addition to the MRE5 Mineral Resource, Bara has identified an Exploration\nTarget for further Main Vein potential of:\n400,000–2,200,000 tonnes at 10–30g/t Au.\n\nThe Exploration Target includes areas where geological and assay information\nindicates potential continuity of the Main Vein, but where data density is\ncurrently insufficient to allow classification as a Mineral Resource.\n\nThe potential quantity and grade of the Exploration Target are conceptual in\nnature. There has been insufficient exploration to define a Mineral Resource,\nand it is uncertain whether further exploration will result in all or any part\nof the Exploration Target being delineated as a Mineral Resource.\n\nQualified Person Statement\nThe Mineral Resource Estimate was prepared by James McFarlane, MCSM, CGeol,\nCEng, FIMMM, QMR, RPGeo, FIQ, Principal Consultant, Mining and Geology, of\nBara Consulting Ltd., an independent Qualified Person in accordance with the\nrequirements of National Instrument 43-101.\n\nMr McFarlane has reviewed and approved the scientific and technical\ninformation relating to the Mineral Resource Estimate contained in this\nannouncement.\n\nThe technical information presented in this press release has also been\nreviewed and approved by James Gilbertson, CGeol, Vice President Exploration\nof Amaroq and a Chartered Geologist with the Geological Society of London, who\nis a Qualified Person as defined by National Instrument 43-101.\n\nUse of a Standard\nThe Mineral Resource information included within this announcement is reported\nin accordance with the Canadian Institute of Mining, Metallurgy and Petroleum\nDefinition Standards on Mineral Resources and Mineral Reserves dated 10 May\n2014, as required by National Instrument 43-101.\n\n-ENDS-\n\nEnquiries:\nAmaroq Ltd. C/O \nEd Westropp, Chief Corporate Development and Strategy Officer \n+44 (0)7385 755711\newe@amaroqminerals.com\n\nPanmure Liberum Limited (Nominated Adviser and Corporate Broker)\nScott Mathieson\nPiers Shimwell\n+44 (0) 20 7886 2500\n\nCanaccord Genuity Limited (Corporate Broker)\nJames Asensio\nRory Blundell\nHarry Rees\n+44 (0) 20 7523 8000\n\nCitigroup Global Markets (Corporate Broker) \nAndrew Miller-Jones\nDavid Herring\n+44 (0) 207 986 3463\n\nCamarco (Financial PR)\nElfie Kent\nFergus Young \n+44 (0) 20 3757 4980\n\nFurther Information:\n\nAbout Amaroq\n\nAmaroq’s principal business objectives are the identification, acquisition,\nexploration, and development of gold and strategic metal properties in South\nGreenland. The Company’s principal asset is a 100% interest in the Nalunaq\nGold mine. The Company has a portfolio of gold and strategic metal assets in\nSouthern Greenland covering the two known gold belts in the region as well as\nadvanced exploration projects at Stendalen and the Sava Copper Belt exploring\nfor Strategic metals such as Copper, Nickel, Rare Earths and other minerals.\nAmaroq is continued under the Business Corporations Act (Ontario) and wholly\nowns Nalunaq A/S, incorporated under the Greenland Companies Act.\n\nInside Information\n\nThis announcement does not contain inside information.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/339067de-ff2d-48df-b28a-e34eb4ae308c)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX3tsq8g","title":"Updated Mineral Resource Estimate and publication of Competent Persons Report","author":"Globe Newswire","ticker":"AMRQ","created":"2026-07-29T13:10:00.436Z","tickers":["AMRQ"],"exchange":"LSE","article_body":"Reykjavík, July 29, 2026 (GLOBE NEWSWIRE) --\n\nAmaroq Ltd.\n(“Amaroq” or the “Company”)\n\nUpdated Mineral Resource Estimate (“MRE5”) and publication of Competent\nPersons Report (“CPR”)\n\nUpdated Nalunaq MRE Exceeds 500koz at 30.35g/t Au\n\n10.6% Increase in Indicated Gold Resources Strengthens the Pathway Towards a\nMaiden Mineral Reserve\n\n29 July 2026 – Amaroq Ltd. (AIM, NASDAQ Iceland: AMRQ, OTCQX: AMRQF), an\nindependent mine development company focused on unlocking Greenland’s\nmineral potential, is pleased to announce MRE5 for its 100%-owned Nalunaq gold\nmine in South Greenland. MRE5 for Nalunaq has been published this morning\nalongside the updated CPR for Nalunaq and the rest of the Amaroq Greenland\nportfolio, in conjunction with the proposed admission of the Company’s\ncommon shares to the equity shares (commercial companies) category of the\nOfficial List of the Financial Conduct Authority and to trading on the main\nmarket for listed securities of the London Stock Exchange.\n\nMRE5 has been independently prepared by Bara Consulting Ltd. (“Bara”) and\nhas an effective date of 1 December 2025.\n\nHighlights\n* Total Mineral Resources have increased to 504 koz of contained gold,\ncomprising 174 koz in the Indicated category and 329 koz in the Inferred\ncategory, at an average grade of 30.35g/t Au, consistent with the high-grade\nnature of the Nalunaq deposit.\n* The Indicated Mineral Resource category increased in contained gold by 10.6%\nto 174 koz, comprising 163.3kt at 33.20g/t Au, relative to MRE4, more than\nreplacing depletion from mining activities up to the MRE5 effective date of 1\nDecember 2025.\n* Inferred Mineral Resources increased to 329 koz, comprising 352.8kt at\n29.03g/t Au. Total contained gold increased by 4.1%.\n* The increase in Indicated Mineral Resources was principally driven by the\nsuccessful 2025 underground infill drilling and development sampling\nprogramme, which allowed the Indicated classification boundary to be extended\nwithin the Upper Mountain Block.\n* MRE5 incorporates 6,467m of new drilling from 11 surface and 30 underground\ndrillholes, together with 119 channel samples and 165 chip samples collected\nduring 2025.\n* The Mineral Resource remains highly resilient to changes in cut-off grade.\nBara estimates that doubling the cut-off grade to approximately 12g/t Au would\nreduce contained gold by only approximately 12%.\n* The updated estimate provides a strengthened technical foundation for\nongoing mine planning, resource conversion drilling and the studies required\nto support the declaration of a maiden Mineral Reserve.\n* Exploration Target remaining of between 400kt and 2.2Mt at grades of\n10–30g/t Au has been identified for additional Main Vein potential. (The\nidentified 75 vein and extensions to the Main Vein within the South Block\nDeeps area are not included in this exploration potential). The Exploration\nTarget is conceptual in nature and is not a Mineral Resource.\n* MRE5 does not include the recently announced high-grade intersections from\nongoing underground drilling, which post-date the estimate and provide clear\npotential upside for future Mineral Resource updates.\nJames Gilbertson, VP Exploration, commented:\n\n“Crossing the half-million-ounce threshold at an average grade of more than\n30g/t Au is an important milestone for Nalunaq and further confirms its\nposition as an exceptionally high-grade gold deposit.\n\n“More significant than the headline growth, is the 10.6% increase in\nIndicated ounces, demonstrating that our focused underground drilling and\ndevelopment sampling programmes are progressively increasing confidence in the\nresource, while replacing and adding to the ounces depleted through mining.\n\n“MRE5 provides a stronger technical foundation for short- and medium-term\nmine planning and for the technical studies required to support a maiden\nMineral Reserve. A substantial proportion of the resource, including the very\nhigh-grade MB HG2 domain, remains in the Inferred category and represents a\nclear priority for further definition drilling.\n\n“The Main Vein also remains open along strike and at depth, with significant\nconceptual potential beyond the current Mineral Resource. We will continue\nsystematic underground and surface drilling with the dual objective of\nprogressively replacing mined ounces and expanding the overall resource\nbase.”\n\nNalunaq MRE5 Mineral Resource Statement\n\nEffective date: 1 December 2025\n\n Classification  Tonnes    Gold grade   Contained gold  \n Indicated       163,300t  33.20g/t Au  174 koz         \n Inferred        352,800t  29.03g/t Au  329koz          \n Total           516,100t  30.35g/t Au  504 koz         \n\nThe Mineral Resources are 100% attributable to Amaroq through its wholly owned\nsubsidiary, Nalunaq A/S.\n\nMineral Resource Statement Notes\n1. Mineral Resources are reported in accordance with the Canadian Institute of\nMining, Metallurgy and Petroleum Definition Standards for Mineral Resources\nand Mineral Reserves dated 10 May 2014.\n2. The Mineral Resource has an effective date of 1 December 2025 and has been\ndepleted to reflect the surveyed underground mining voids as of that date.\n3. Mineral Resources are reported on an in-situ, undiluted wireframe basis\nabove a cut-off grade of 5.52g/t Au.\n4. The cut-off grade is based on a gold price of US$3,000/oz, gold recovery of\n94%, gold payability of 98.84%, a mining cost of US$164/t, processing cost of\nUS$160/t, allocated general and administrative costs of US$46/t and other\napplicable operating assumptions independently reviewed and validated by Bara.\n5. Mineral Resources are not Mineral Reserves and do not have demonstrated\neconomic viability. No Mineral Reserves have been declared for Nalunaq.\n6. Indicated Mineral Resources are principally supported by areas of\nhigh-density underground development sampling and drilling within the first\nvariogram search range.\n7. The MB HG2 domain, which contains 61.7kt at 87.89g/t Au for approximately\n174.3koz, remains entirely classified as Inferred because of the current\ndensity and distribution of drill coverage.\n8. The Competent Person and Qualified Person responsible for the Mineral\nResource Estimate is Mr James McFarlane, MCSM, CGeol, CEng, FIMMM, QMR, RPGeo,\nFIQ, of Bara Consulting Ltd.\n9. Tonnes are reported in dry metric tonnes, gold grades in grams per tonne\nand contained gold in troy ounces. Figures have been rounded and may therefore\nnot sum precisely.\n10. MB means Mountain Block, TB means Target Block and SB means South Block.\nComparison with MRE4\nMRE5 supersedes the Mineral Resource Estimate announced by the Company on 28\nMarch 2025, which had an effective date of 23 February 2025.\n\n Classification  MRE4 contained gold  MRE5 contained gold  Change  \n Indicated       158 koz              174 koz              +10.6%  \n Inferred        326 koz              329 koz              +0.9%   \n Total           484 koz              504 koz              +4.1%   \n\nThe principal changes relative to MRE4 are:\n* Extension of the Indicated Mineral Resource classification within the Upper\nMountain Block, supported by the 2025 underground infill drilling and\ndevelopment sampling programme.\n* Improved definition of the Main Vein and associated high-grade domains from\nunderground drilling, channel sampling and chip sampling.\n* Incorporation of mining depletion and updated underground void surveys\nthrough to 1 December 2025.\n* Updated operating and economic assumptions reflecting the transition to an\nowner-operated mining model and the commissioning of the full gravity and\nflotation process flowsheet.\n* Application of a revised cut-off grade of 5.52g/t Au.\nMRE5 Database and Estimation Methodology\nMRE5 incorporates drilling and sampling completed through the 2025 field\nseason. The new information comprises:\n* 11 surface diamond drillholes;\n* 30 underground diamond drillholes;\n* 6,467m of new drilling;\n* 119 underground channel samples; and\n* 165 underground chip samples.\nThe 2025 underground programme was concentrated within the Upper Mountain\nBlock, where increased data density has supported the extension of the\nIndicated Mineral Resource classification.\n\nThe surface drilling programme tested the southern continuation of the Main\nVein within the lower Valley area, extending the interpreted expression of the\nmineralised structure beyond that used for MRE4.\n\nThe full MRE5 database comprises drilling and sampling information accumulated\nsince the initial exploration of Nalunaq in the early 1990s. The resource\nmodel incorporates geological interpretation, domain-based grade estimation,\nvariography, high-grade treatment and validation against drilling, underground\ndevelopment sampling and surveyed mine workings.\nMRE5 continues to model the deposit within separate high and lower-grade\nestimation domains to represent the geological distribution and nugget effect\ncharacteristic of Nalunaq’s coarse-gold mineralisation.\n\nNo Measured Mineral Resources have been declared. The current availability of\nhistorical quality-control records and the maturity of mine-to-mill\nreconciliation data do not yet support classification at the Measured level.\n\nCut-off Grade and Resource Resilience\nMRE5 is reported above a cut-off grade of 5.52g/t Au, compared with the\n5.90g/t Au cut-off applied in MRE4.\n\nThe revised cut-off grade reflects updated mining, processing and operating\ncost information, together with a US$3,000/oz long-term gold price assumption\nand a 94% combined gravity and flotation recovery assumption.\n\nThe resource demonstrates low sensitivity to increasing cut-off grade because\nof the high-grade nature of the deposit. Bara estimates that increasing the\ncut-off grade to approximately 12g/t Au would reduce the total contained gold\nwithin the Mineral Resource by only approximately 12%.\n\nAs part of its assessment of reasonable prospects for eventual economic\nextraction (“RPFEEE”), Bara also undertook Mineable Shape Optimiser\n(“MSO”) work using mining parameters consistent with the cut-off grade\nassumptions and Amaroq’s current operating parameters. This work confirmed\nthat the reported undiluted MRE5 remains well aligned with a mining-dilution\nassessment at practical minimum stoping dimensions, with the variance between\ndiluted and undiluted contained metal assessed by Bara as immaterial.\n\nNalunaq Exploration Target\nIn addition to the MRE5 Mineral Resource, Bara has identified an Exploration\nTarget for further Main Vein potential of:\n400,000–2,200,000 tonnes at 10–30g/t Au.\n\nThe Exploration Target includes areas where geological and assay information\nindicates potential continuity of the Main Vein, but where data density is\ncurrently insufficient to allow classification as a Mineral Resource.\n\nThe potential quantity and grade of the Exploration Target are conceptual in\nnature. There has been insufficient exploration to define a Mineral Resource,\nand it is uncertain whether further exploration will result in all or any part\nof the Exploration Target being delineated as a Mineral Resource.\n\nQualified Person Statement\nThe Mineral Resource Estimate was prepared by James McFarlane, MCSM, CGeol,\nCEng, FIMMM, QMR, RPGeo, FIQ, Principal Consultant, Mining and Geology, of\nBara Consulting Ltd., an independent Qualified Person in accordance with the\nrequirements of National Instrument 43-101.\n\nMr McFarlane has reviewed and approved the scientific and technical\ninformation relating to the Mineral Resource Estimate contained in this\nannouncement.\n\nThe technical information presented in this press release has also been\nreviewed and approved by James Gilbertson, CGeol, Vice President Exploration\nof Amaroq and a Chartered Geologist with the Geological Society of London, who\nis a Qualified Person as defined by National Instrument 43-101.\n\nUse of a Standard\nThe Mineral Resource information included within this announcement is reported\nin accordance with the Canadian Institute of Mining, Metallurgy and Petroleum\nDefinition Standards on Mineral Resources and Mineral Reserves dated 10 May\n2014, as required by National Instrument 43-101.\n\n-ENDS-\n\nEnquiries:\nAmaroq Ltd. C/O \nEd Westropp, Chief Corporate Development and Strategy Officer \n+44 (0)7385 755711\newe@amaroqminerals.com\n\nPanmure Liberum Limited (Nominated Adviser and Corporate Broker)\nScott Mathieson\nPiers Shimwell\n+44 (0) 20 7886 2500\n\nCanaccord Genuity Limited (Corporate Broker)\nJames Asensio\nRory Blundell\nHarry Rees\n+44 (0) 20 7523 8000\n\nCitigroup Global Markets (Corporate Broker) \nAndrew Miller-Jones\nDavid Herring\n+44 (0) 207 986 3463\n\nCamarco (Financial PR)\nElfie Kent\nFergus Young \n+44 (0) 20 3757 4980\n\nFurther Information:\n\nAbout Amaroq\n\nAmaroq’s principal business objectives are the identification, acquisition,\nexploration, and development of gold and strategic metal properties in South\nGreenland. The Company’s principal asset is a 100% interest in the Nalunaq\nGold mine. The Company has a portfolio of gold and strategic metal assets in\nSouthern Greenland covering the two known gold belts in the region as well as\nadvanced exploration projects at Stendalen and the Sava Copper Belt exploring\nfor Strategic metals such as Copper, Nickel, Rare Earths and other minerals.\nAmaroq is continued under the Business Corporations Act (Ontario) and wholly\nowns Nalunaq A/S, incorporated under the Greenland Companies Act.\n\nInside Information\n\nThis announcement does not contain inside information.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/339067de-ff2d-48df-b28a-e34eb4ae308c)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-07-29T13:10:00.818960717Z","server_sent_at_ms":1785330600818},"received_at":"2026-07-29T13:10:00.870Z","source_url":"https://www.globenewswire.com/news-release/2026/07/29/3335313/0/en/updated-mineral-resource-estimate-and-publication-of-competent-persons-report.html"},"analysis":{"id":"91176","press_release_id":"102151","analysis_json":{"industry":{"label":"Gold","sector":"Materials"},"redFlags":["No Measured Mineral Resources have been declared","Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability","MB HG2 domain (174.3koz) remains entirely classified as Inferred","Exploration Target is conceptual in nature and there is no certainty it will be delineated as a Mineral Resource"],"eventType":"operations_update","narrative":"Amaroq released its fifth Mineral Resource Estimate (MRE5) for the Nalunaq gold mine, reporting total contained gold of 504 koz at an average grade of 30.35 g/t Au.\n\nThe Indicated Mineral Resource category grew by 10.6% to 174 koz, successfully replacing mining depletion and extending the classification boundary through underground drilling.\n\nAn Exploration Target of 400kt to 2.2Mt at grades of 10–30g/t Au was identified for the Main Vein, providing additional upside potential alongside a strengthened technical foundation for a maiden Mineral Reserve declaration.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Resource update shows strong growth and ultra-high grades, de-risking the path to reserves at Nalunaq."},"keyFigures":{"customDimensions":{"total_resource_koz":504,"cut_off_grade_gt_au":5.52,"new_drilling_meters":6467,"inferred_resource_koz":329,"indicated_resource_koz":174,"indicated_change_percent":"10.6%","exploration_target_tonnes":"400,000–2,200,000","total_resource_grade_gt_au":30.35,"inferred_resource_grade_gt_au":29.03,"exploration_target_grade_gt_au":"10–30","indicated_resource_grade_gt_au":33.2}},"quotedText":"Crossing the half-million-ounce threshold at an average grade of more than 30g/t Au is an important milestone for Nalunaq and further confirms its position as an exceptionally high-grade gold deposit.","namedEntities":{"people":[{"name":"James Gilbertson","role":"VP Exploration"},{"name":"James McFarlane","role":"Principal Consultant, Bara Consulting Ltd."}],"products":["Nalunaq gold mine"],"companies":[{"name":"Amaroq Ltd.","ticker":"AMRQ"},{"name":"Bara Consulting Ltd.","relationship":"consultant"},{"name":"Nalunaq A/S","relationship":"subsidiary"},{"name":"Panmure Liberum Limited","relationship":"Nominated Adviser and Broker"},{"name":"Canaccord Genuity Limited","relationship":"Corporate Broker"}],"dollarAmounts":[{"amount":"US$3,000/oz","context":"long-term gold price assumption"},{"amount":"US$164/t","context":"mining cost assumption"},{"amount":"US$160/t","context":"processing cost assumption"}]},"materialImpact":{"score":3,"reasoning":"MRE5 delivers a 10.6% increase in Indicated resources and pushes total resources past the 500koz mark at an exceptionally high grade of 30.35g/t Au. This is a significant de-risking event for the development pathway, though it falls short of a commercial production decision or major M&A."},"tickerRelevance":{"others":[],"primary":"AMRQ"},"globalImportance":25,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"positive resource update MRE","sectorWeight":"materials/mining"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":3,"narrative":"Amaroq released its fifth Mineral Resource Estimate (MRE5) for the Nalunaq gold mine, reporting total contained gold of 504 koz at an average grade of 30.35 g/t Au.\n\nThe Indicated Mineral Resource category grew by 10.6% to 174 koz, successfully replacing mining depletion and extending the classification boundary through underground drilling.\n\nAn Exploration Target of 400kt to 2.2Mt at grades of 10–30g/t Au was identified for the Main Vein, providing additional upside potential alongside a strengthened technical foundation for a maiden Mineral Reserve declaration.","key_figures":{"customDimensions":{"total_resource_koz":504,"cut_off_grade_gt_au":5.52,"new_drilling_meters":6467,"inferred_resource_koz":329,"indicated_resource_koz":174,"indicated_change_percent":"10.6%","exploration_target_tonnes":"400,000–2,200,000","total_resource_grade_gt_au":30.35,"inferred_resource_grade_gt_au":29.03,"exploration_target_grade_gt_au":"10–30","indicated_resource_grade_gt_au":33.2}},"named_entities":{"people":[{"name":"James Gilbertson","role":"VP Exploration"},{"name":"James McFarlane","role":"Principal Consultant, Bara Consulting Ltd."}],"products":["Nalunaq gold mine"],"companies":[{"name":"Amaroq Ltd.","ticker":"AMRQ"},{"name":"Bara Consulting Ltd.","relationship":"consultant"},{"name":"Nalunaq A/S","relationship":"subsidiary"},{"name":"Panmure Liberum Limited","relationship":"Nominated Adviser and Broker"},{"name":"Canaccord Genuity Limited","relationship":"Corporate Broker"}],"dollarAmounts":[{"amount":"US$3,000/oz","context":"long-term gold price assumption"},{"amount":"US$164/t","context":"mining cost assumption"},{"amount":"US$160/t","context":"processing cost assumption"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-07-29T18:29:20.803Z","global_importance":25,"audience_relevance":15,"importance_components":{"tickerTier":"small-cap","eventGravity":"positive resource update MRE","sectorWeight":"materials/mining"}},"durationMs":169390,"modelName":"glm-4.7"}}