Reykjavík, Aug.  07, 2026  (GLOBE NEWSWIRE) --   Amaroq Ltd.(&#34;Amaroq&#34; or the &#34;Company&#34;)  Scout drilling commences at the high-impact Minturn project, Northwest Greenland  7 August 2026 - Amaroq Ltd.

TSXV:AMRQ

Scout drilling commences at the high-impact Minturn project, Northwest Greenland

Amaroq launches Minturn scout drilling to test potential IOCG system

<section class="insight" data-version="1">
 <section data-block="information">
 <h3>Information</h3>
 Reykjavík, Aug. 07, 2026 (GLOBE NEWSWIRE) -- Amaroq Ltd.(&amp;#34;Amaroq&amp;#34; or the &amp;#34;Company&amp;#34;) Scout drilling commences at the high-impact Minturn project, Northwest Greenland 7 August 2026 - Amaroq Ltd.
 </section>

 <section data-block="ai-summary-paragraph">
 <h3>AI Summary</h3>
 Amaroq launches a focused scout diamond drilling program at the Minturn iron-copper-gold prospect in Northwest Greenland to test depth continuity of high-grade magnetite-rich iron and explore copper-gold potential alongside a parallel EM/geochemical anomaly. The target is defined by a ~9 km magnetic anomaly within an 80 km corridor, with surface iron grades up to 69.5% Fe. Positive results could validate a large IOCG-style system and accelerate Amaroq&#039;s North Greenland expansion, though logistical challenges persist.
 </section>

 <section data-block="ai-summary-bullets">
 <h3>Key Points</h3>
 <ul><li>Scout drilling at Minturn begins. Tests depth continuity of high-grade iron.</li><li>Surface iron grades up to 69.5% Fe. Tests copper-gold potential with EM anomaly.</li><li>Minturn sits on Greenland&#039;s strongest magnetic anomaly; 9km target within an 80km corridor.</li><li>Logistics-driven streamline prioritises direct drill testing; expands North Greenland exposure.</li></ul>
 </section>

 <section data-block="companies-mentioned">
 <h3>Companies Mentioned</h3>
 <ul><li>Amaroq Ltd. (AMRQ): Leading the Minturn scout program; potential valuation upside if results indicate a large IOCG-style system.</li><li>Gardaq A/S: JV partner holding Minturn interests; critical for North Greenland development, with potential value upside if drilling progresses.</li></ul>
 </section>

 <section data-block="category">
 <h3>Industry News</h3>
 Industry News: This release details a new exploration program at Minturn, highlighting potential scale in a Greenland IOCG-style system and reflecting Amaroq&#039;s strategic expansion beyond South Greenland.
 </section>

 <section data-block="market-moving">
 <h3>Market-Moving</h3>
 <ul><li>Minturn drill results expected in coming months could trigger a price re-rate.</li><li>High surface Fe grades (up to 69.5%) and EM-copper-gold targets support upside if confirmed.</li><li>North Greenland logistics risk could cap near-term upside until progress reduces execution risk.</li></ul>
 </section>

 <section data-block="key-facts">
 <h3>Key Facts</h3>
 <ul><li>Minturn scout diamond drilling program commenced August 7, 2026.</li><li>Surface iron grades up to 69.5% Fe identified in 2025 sampling.</li><li>Minturn defined by a ~9 km magnetic anomaly within an ~80 km mineralised corridor.</li><li>Minturn located in Inglefield Land, Northwest Greenland; JV structured with Gardaq A/S.</li></ul>
 </section>

 <section data-block="trading-thesis">
 <h3>Trading Thesis</h3>
 Near-term catalyst for TSXV:AMRQ; expect volatility as drilling results materialize over months.
 </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link>Reykjavík, Aug. 07, 2026 (GLOBE NEWSWIRE) -- Amaroq Ltd. ("Amaroq" or the "Company") Scout drilling commences at the high-impact Minturn project, Northwest Greenland 7 August 2026 - Amaroq Ltd. ((LSE and NASDAQ Iceland: AMRQ, OTCQX:<a class="ticker" href="https://www.benzinga.com/quote/AMRQF">AMRQF</a>), an independent mine development company focused on unlocking Greenland&#39;s mineral potential, is pleased to announce the commencement of a focussed scout diamond drilling programme at the Minturn iron-copper-gold prospect in Inglefield Land, Northwest Greenland, following successful surface sampling in 2025. Highlights <ul type="disc"><li style="text-align:justify;">A scout drilling programme is commencing to provide the first direct test of the Minturn mineralised system at depth;</li><li style="text-align:justify;">Drilling will assess the depth continuity and geometry of the high-grade iron mineralisation discovered in 2025, during surface sampling, which confirmed assay grades of up to 69.5% Fe and test the potential for copper-gold mineralisation associated with a parallel electromagnetic and geochemical anomaly;</li><li style="text-align:justify;">Minturn is centred on what the Company believes to be Greenland&#39;s strongest regional magnetic anomaly, with reprocessed geophysics defining a coherent approximately 9km magnetic target within a broader 80km mineralised corridor;</li><li style="text-align:justify;">Given the logistical complexity of operating in Northwest Greenland, the programme has been streamlined, with planned ground geophysical surveys deferred, to better enable time and resources to be prioritised towards direct drill testing;</li><li style="text-align:justify;">The programme represents an important step in Amaroq&#39;s expansion into North Greenland and in building the operating knowledge required to unlock the potential of large-scale mineral systems across Greenland. </li></ul> James Gilbertson, VP Exploration, commented: "Minturn is an exceptional and previously untested target, centred on what we believe to be Greenland&#39;s strongest regional magnetic anomaly. At surface, we have already identified high-grade iron mineralisation across a substantial trend, alongside geophysical and geochemical evidence, that supports potential for copper and gold within a broader IOCG-style system. "Operating in this remote part of Northwest Greenland has presented real mobilisation challenges due to weather and long supply routes. We have responded by focussing the programme on drilling, which will provide us with the greatest potential to advance our understanding of this potentially large play. The scout programme will give critical and potentially value enhancing information on the sub-surface and help us design the next phase with far greater confidence." 2026 Minturn scout drilling programme overview The programme will undertake initial scout drilling across priority targets selected from Amaroq&#39;s integrated geological, magnetic, electromagnetic and geochemical datasets. The holes are designed to provide the first information on the continuity and geometry of the high-grade magnetite-rich iron mineralisation below surface, while also testing the depth potential of the adjacent copper-gold target. The results will be integrated with the 2025 surface sampling and historic airborne geophysical data to refine the geological model, assess the scale of the system and design future ground geophysics and follow-up drilling. Amaroq remains committed to Minturn&#39;s potential scale and strategic importance and will use this programme to build the practical operating knowledge required for sustained exploration in North Greenland, drawing on the experience and infrastructure established through its operations in South Greenland. About the Minturn project Minturn is located in the Inglefield Land region of Northwest Greenland, approximately 220km north of the US Pituffik Space Base. The prospect is interpreted as a potentially large iron oxide copper gold ("IOCG") or Kiruna-style mineral system and is held within Amaroq&#39;s strategic joint venture company, Gardaq A/S. Reprocessing and reinterpretation of historic geophysical datasets identified a coherent approximately 9km magnetic anomaly within a broader 80km mineralised corridor. Reconnaissance work completed in 2025 returned surface iron grades of up to 69.5% Fe, including multiple samples grading 66-69% Fe. A parallel electromagnetic anomaly and associated ionic-leach geochemistry provide targets for potential copper-gold mineralisation. The programme now commencing will be the first drilling to test these interpretations at depth. Qualified Person Statement The technical information presented in this press release has been reviewed and approved by James Gilbertson, CGeol, Vice President Exploration of Amaroq and a Chartered Geologist with the Geological Society of London, who is a Qualified Person as defined by National Instrument 43-101. -ENDS- Enquiries: Amaroq Ltd. C/O Ed Westropp, Chief Corporate Development and Strategy Officer +44 (0)7385 755711 ewe@amaroqminerals.com Canaccord Genuity Limited (Corporate Broker) James Asensio Rory Blundell Harry Rees +44 (0) 20 7523 8000 Citigroup Global Markets Limited (Corporate Broker) Andrew Miller-Jones David Herring +44 (0) 207 986 3463 Panmure Liberum Limited (Corporate Broker) Scott Mathieson Piers Shimwell +44 (0) 20 7886 2500 Camarco (Financial PR) Elfie Kent Fergus Young  +44 (0) 20 3757 4980 Further Information: About Amaroq Amaroq&#39;s focus is the identification, acquisition, exploration and development of gold and strategic metals in Greenland. The Company&#39;s principal asset is the 100% owned and operated, producing Nalunaq Gold Mine. Amaroq&#39;s significant exploration portfolio includes opportunities in gold, copper, nickel and rare earth elements across South Greenland, as well as zinc, lead, silver, germanium and gallium at its West Greenland Hub centred on the past-producing zinc-lead-silver mine at Maarmorilik and the nearby Kangerluarsuk exploration licence, and the Minturn iron oxide copper gold prospect in Northwest Greenland. The Company&#39;s strategy is to unlock Greenland&#39;s resource potential through continued exploration and development while building a responsible, full-cycle mining company, including through its Suliaq subsidiary, which provides mining services and logistics capabilities for Greenland&#39;s developing mining sector, and Imeq ApS, Greenland&#39;s first private hydroelectric project. The Company is listed on the LSE and Nasdaq Iceland under the ticker AMRQ, and on OTCQX under AMRQF. Inside Information The announcement does not contain inside information. <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=MTAwMTI1NjQ1OSM0MDI0ODQzMTMjMjI2MjIxOQ=="></img> <img alt="" src="https://ml-eu.globenewswire.com/media/YTAxMWRiN2YtYmE1Ny00YjI0LThlMDgtZWYwYTMyOTBkN2M5LTEyNzM3NjktMjAyNi0wOC0wNy1lbg==/tiny/Amaroq-Ltd-.png" referrerpolicy="no-referrer-when-downgrade"></img><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/339067de-ff2d-48df-b28a-e34eb4ae308c"><img src="https://ml-eu.globenewswire.com/media/339067de-ff2d-48df-b28a-e34eb4ae308c/small/amaroq-logo-png.png" border="0" width="150" height="100" alt="Primary Logo"></img></a>

Amaroq launches a focused scout diamond drilling program at the Minturn iron-copper-gold prospect in Northwest Greenland to test depth continuity of high-grade magnetite-rich iron and explore copper-gold potential alongside a parallel EM/geochemical anomaly. The target is defined by a ~9 km magnetic anomaly within an 80 km corridor, with surface iron grades up to 69.5% Fe. Positive results could validate a large IOCG-style system and accelerate Amaroq's North Greenland expansion, though logistical challenges persist.

News insight

Scout drilling commences at the high-impact Minturn project, Northwest Greenland

AI summary

Sentiment rationale

Key facts

Industry News