Gold Production for YE 2025 and Award of Impact Benefit Agreement (“IBA”)

Core Viewpoint - Amaroq Ltd. has reported year-end gold production from its Nalunaq gold mine of approximately 6.6 thousand ounces (koz), exceeding the midpoint of its annual guidance range of 6-7 koz, indicating strong operational performance and progress in the commissioning phase of the mine [3][4][6]. Group 1: Production and Operational Highlights - The gold production of ~6.6 koz for the year ended 2025 is above the mid-point of the guidance range [3][6]. - The processing unit and mining operations at the Nalunaq mine have performed well since the restart of operations following a shutdown in Q4 2025, with expectations to increase the recovery factor to approximately 90% upon completion of Phase 2 in Q2 2026 [4][6]. - Mining and processing rates are anticipated to remain consistent into the new year [6]. Group 2: Agreements and Future Plans - The final Impact Benefit Agreement (IBA) for the Nalunaq mine has been approved, marking a significant milestone for the company and the development of a successful mining industry in Greenland [5][6]. - The company plans to announce production guidance and budget for 2026 in late February 2026 [6]. Group 3: Company Overview and Strategic Assets - Amaroq Ltd. focuses on the identification, acquisition, exploration, and development of gold and strategic metal assets in Greenland, with its flagship asset being the 100%-owned Nalunaq Gold Mine [7]. - The company has also acquired a 100% interest in the Black Angel zinc-lead-silver project, which is historically one of Greenland's highest-grade base metal operations, as part of its West Greenland Hub strategy [8]. - Beyond gold and base metals, Amaroq controls a diverse portfolio of strategic metal licenses across South Greenland, including advanced exploration projects for copper, nickel, and rare earth elements [9].