Company Overview

Amaroq Ltd. is a Greenland-focused mining and energy transition company engaged primarily in gold exploration, development, and mining, with additional exposure to strategic minerals and infrastructure development. The company operates within the mining and natural resources sector and is publicly traded on the AIM market of the London Stock Exchange, the TSX Venture Exchange, and the OTC market under the symbol AMRQF. Its principal activities center on the development of mineral assets in Southern Greenland, particularly the Nalunaq gold mine and surrounding exploration portfolio.

The company’s primary revenue driver is expected to be gold production from the Nalunaq Mine, alongside long-term exploration potential across a broader land package containing gold, copper, nickel, and rare earth element prospects. Amaroq has positioned itself as one of the few foreign-listed mining companies with a concentrated operational focus in Greenland, benefiting from early-mover access to mineral licenses in a region increasingly viewed as strategically important for critical minerals supply chains. Originally established as AEX Gold Inc., the company rebranded to Amaroq Minerals Ltd. in 2022 and later adopted the name Amaroq Ltd. as it expanded beyond gold into broader resource development and infrastructure initiatives.

Business Operations

Amaroq’s operations are centered on mineral exploration, mine development, and associated infrastructure projects in Greenland. Its core business units include the Nalunaq Gold Project, regional exploration assets in Southern Greenland, and emerging strategic minerals initiatives. The company generates value through mineral resource development, gold production advancement, and exploration activities designed to expand existing resource estimates and identify new deposits. The Nalunaq Mine, previously operated by Crew Gold before being placed on care and maintenance, serves as the company’s flagship producing asset.

The company maintains exploration licenses covering extensive land positions across Southern Greenland and controls related infrastructure assets supporting logistics and mining operations in remote Arctic conditions. Amaroq has also pursued partnerships and financing arrangements involving institutional investors, Nordic banks, and strategic stakeholders connected to Greenlandic development initiatives. Its subsidiaries and operating entities manage exploration permits, mining licenses, and local operational activities in Greenland, while the company’s corporate functions are coordinated through international offices and public-market listings.

Strategic Position & Investments

Amaroq’s strategic direction focuses on establishing itself as a long-term Greenlandic mining operator with diversified exposure to both precious metals and critical minerals. A major component of this strategy has been the redevelopment and advancement of the Nalunaq Mine, including investments in processing facilities, underground development, and logistics infrastructure intended to support commercial gold production. The company has also expanded exploration efforts targeting copper, nickel, and rare earth elements, reflecting increasing global demand tied to electrification and energy transition supply chains.

The company has pursued financing initiatives involving debt facilities, equity raises, and strategic investment support to fund mine construction and exploration growth. Amaroq has also invested in regional infrastructure capabilities, including power and logistics development, to strengthen operational reliability in Greenland’s remote operating environment. Its broader portfolio includes multiple exploration targets beyond Nalunaq, positioning the company to potentially evolve into a diversified Arctic resource developer. Public disclosures indicate continued emphasis on responsible development practices, local workforce participation, and cooperation with Greenlandic authorities.

Geographic Footprint

Amaroq’s operations are overwhelmingly concentrated in Greenland, particularly in the southern region near the Nalunaq project area. The company maintains its primary operational presence through mining licenses and exploration properties distributed across Greenlandic mineral belts considered prospective for gold and critical minerals. Its activities include exploration drilling, mine development, infrastructure construction, and regional geological assessment programs.

Corporate and capital markets activities extend internationally through listings in the United Kingdom, Canada, and the United States OTC market. The company’s investor base and financing relationships include participants from Europe and North America, while its operational influence is tied directly to Greenland’s emerging role in Arctic mining and strategic mineral development. Greenland remains the company’s dominant operational jurisdiction according to public filings and investor materials.

Leadership & Governance

Amaroq’s leadership team combines mining finance, exploration, and operational development experience with a strategic focus on building a long-term Arctic mining platform. The company’s governance structure reflects its transition from a junior exploration company into a producing and development-stage mining operator. Public communications and filings emphasize disciplined capital allocation, operational execution, and responsible resource development in Greenland.

Key executives and directors include:

• Eldur Olafsson – Chief Executive Officer
• Tim Wood – Chief Financial Officer
• Andrew Chubb – Vice President Exploration
• John F. Nugent – Non-Executive Chairman
• William Rand – Chief Development Officer

The company’s leadership has consistently communicated a strategy centered on advancing gold production while expanding exposure to strategic minerals that may benefit from long-term global energy transition demand. Governance practices are guided through public market disclosure requirements applicable to its London and Canadian exchange listings, including reporting standards associated with publicly traded mining issuers.