Operational update

Core Viewpoint - Amaroq Ltd. reports significant operational improvements at its Nalunaq gold mine, with production exceeding expectations and a successful 2025 exploration program underway [2][3]. Operations Update - The commissioning of the processing plant and ramp-up of mining operations at Nalunaq have shown steady improvements through Q3 2025 [5]. - Gold production as of October 7, 2025, has reached approximately 5,000 ounces, aligning with the company's revised full-year 2025 production guidance [5]. - A planned shutdown for commissioning activities is expected to start in the third week of October 2025, lasting about four weeks, after which the gravity circuit will be fully automated [5]. - The company aims to achieve a nameplate throughput of 300 tons per day by the end of 2025 [5]. Exploration Program - The 2025 exploration program has been completed, identifying resource upside with assay results pending [4]. - Surface drilling at the South Deep Zone has been completed, providing growth potential for the next Mineral Resource Update scheduled for Q1 2026 [5]. - Underground drilling between the 725 and 790 levels has been completed, with continuous definition drilling planned from the 800 level upwards [5]. - A 4,804-meter drilling program at Nanoq was completed on schedule, with initial assay results expected in Q4 2025 [5]. Strategic Initiatives - Satellite gold exploration around Nalunaq, along with copper and critical metals programs, has been completed, with assays pending [5]. - Strategic site visits to the Black Angel and Kangerluarsuk projects have been conducted to assess logistics and development pathways [5].