Amaroq Pours First Gold at Nalunaq Mine

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Reykjavík, Nov. 28, 2024 (GLOBE NEWSWIRE) — (“Amaroq Minerals” or the “Firm”)

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Amaroq Pours First Gold at Nalunaq Mine

TORONTO, ONTARIO – 28 November 2024 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an unbiased mine improvement firm with a considerable land bundle of gold and strategic mineral property in Southern Greenland, is delighted to announce it has accomplished the primary gold pour at its cornerstone Nalunaq gold mine in Greenland on 27 November 2024.

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Highlights

• On November 26, 2024, the Authorities of Greenland accepted the Section 1 Commissioning of the Nalunaq plant, which has since been operated at its nameplate capability.
• The primary gold pour at Nalunaq occurred on November 27, 2024, producing 1.2 kilograms (39 troy ounces) of gold after a 10-hour processing interval.
• The Firm will proceed to optimise the processing plant throughout Section 1 Commissioning and goals to conduct a gold pour on a weekly foundation.

Subsequent steps

• Section 2 Commissioning, incorporating the flotation circuit, is because of full in Q2 2025.
• Ramp-up to a gentle state nameplate plant capability of 260-300 tonnes per day of fabric between 12-16 g/t Au is predicted to happen in This autumn 2025.
• An up to date Mineral Useful resource Estimate (MRE4) for Nalunaq is predicted to be revealed in Q1 2025.

Eldur Olafsson, CEO of Amaroq Minerals, commented:

“I wish to thank my colleagues and the staff on the bottom who’ve labored tirelessly all through the development and commissioning to ship first gold on time, sustaining a robust security document – this can be a exceptional achievement for Amaroq and our companions.

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“First Gold Pour on the Nalunaq mine signifies a serious step on our journey, triggering preliminary money circulate technology. As Nalunaq transitions from being a price centre to a money generator, our focus turns to useful resource, mine life extension and additional exploration to unlock the total mineral potential of our Greenland portfolio.

“All through this, we stay targeted on the sustainable supply of our tasks, working intently with the local people, and delivering our function of making a Greenlandic legacy.

“I’d additionally wish to thank our local people, the Greenlandic authorities, and our shareholders for his or her ongoing help.”

A video of the primary gold pour is on the market to observe on the beneath hyperlink:
https://youtube.com/shorts/YsHlvluY3lc

Enquiries:

Amaroq Minerals Ltd.
Eldur Olafsson, Govt Director and CEO
eo@amaroqminerals.com

Eddie Wyvill, Company Growth
+44 (0)7713 126727
ew@amaroqminerals.com

Panmure Liberum Restricted (Nominated Adviser and Company Dealer)
Scott Mathieson
Nikhil Varghese
Kieron Hodgson
+44 (0) 20 7886 2500

Canaccord Genuity Restricted (Company Dealer)
James Asensio
Harry Rees
Tel: +44 (0) 20 7523 8000

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Camarco (Monetary PR)
Billy Clegg
Elfie Kent
Fergus Younger
+44 (0) 20 3757 4980

For Company updates:
Comply with @Amaroq_Minerals on X (Previously generally known as Twitter)
Comply with Amaroq Minerals Ltd. on LinkedIn

Additional Info:

About Amaroq Minerals

Amaroq Minerals’ principal enterprise targets are the identification, acquisition, exploration, and improvement of gold and strategic metallic properties in South Greenland. The Firm’s principal asset is a 100% curiosity within the Nalunaq Gold mine. The Firm has a portfolio of gold and strategic metallic property in Southern Greenland masking the 2 identified gold belts within the area in addition to superior exploration tasks at Stendalen and the Sava Copper Belt exploring for Strategic metals akin to Copper, Nickel, Uncommon Earths and different minerals. Amaroq Minerals is sustained beneath the Enterprise Firms Act (Ontario) and wholly owns Nalunaq A/S, included beneath the Greenland Public Corporations Act.

Neither TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this launch.

Inside Info
This announcement doesn’t include inside data.

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