Amaroq Minerals

Amaroq Minerals Ltd. is an independent mineral exploration and development company with a strategic focus on Greenland's extensive mineral resources. Founded in 2017 by Eldur Olafsson, the company operates with the objective of identifying, acquiring, and developing gold and strategic metal properties. Olafsson, a geologist by training with a BSc from the University of Iceland, brought extensive experience from the global geothermal and mining industries, having previously worked on integrated mining projects in Greenland for over seven years and co-founding Arctic Green Energy. His career includes a track record of advancing companies from exploration to production, notably in the geothermal sector in Asia.

The company's business model is centered on a full-cycle approach, from exploration to production, with a primary revenue stream derived from the sale of gold. This is supplemented by a growing portfolio of strategic minerals critical for the energy transition, including copper, nickel, and rare earth elements. A key component of Amaroq's strategy is to utilize cash flow generated from its primary gold asset to self-fund exploration and development across its wider portfolio. The company’s operations are divided into several pillars: Development & Mining, Exploration, Logistics & Servicing, and Renewable Energy. Amaroq is listed on London's AIM market, the Toronto Venture Exchange (TSX-V), and the NASDAQ Iceland Main Market under the ticker AMRQ.

Amaroq's principal asset is the 100%-owned Nalunaq gold mine in Southern Greenland, a past-producing mine that the company is redeveloping. This high-grade project achieved its first gold pour in the fourth quarter of 2024 and is expected to ramp up to full-scale operations during 2025. Beyond gold, Amaroq holds the largest mineral rights package in South Greenland, covering an extensive area across several mineral belts, including the Sava Copper Belt, the Nanortalik Gold Belt, and the Gardar Province. Through its 51%-owned joint venture, Gardaq A/S, the company is actively exploring for strategic minerals like copper at the historic Josva mine, nickel and cobalt at the Stendalen project, and various rare earth elements. This diversified portfolio positions Amaroq to supply materials essential for technologies like EV batteries and renewable energy systems.

Keywords: mineral exploration, Greenland mining, gold production, strategic metals, copper exploration, nickel resources, rare earth elements, Nalunaq gold mine, Eldur Olafsson, Gardaq JV, Sava Copper Belt, Stendalen project, energy transition materials, Arctic mining, resource development, publicly traded mining company, South Greenland, Nanortalik Gold Belt, Gardar Province, mining logistics, renewable energy in mining