Amaroq (AMRQ) CMD 2024 Presentation summary

Strategic overview and business pillars

• Fully funded program to commence trial mining and processing at Nalunaq in 2024, underpinning value and growth trajectory.

• Focus on Greenland's untapped mineral wealth through exploration and development initiatives.

• Core business pillars include exploration, mining, logistics, servicing, and renewable energy integration.

• Aims to secure Western supply of critical raw materials, positioning as a key player in the region.

Nalunaq project development and milestones

• Major construction milestones achieved: ramp rehabilitation, ventilation, process plant terrace, and gold room construction.

• Trial mining and process plant construction advanced, with new ore drives and resource expansion drilling planned for 2024.

• Production mining scheduled for June–November 2024, targeting 110 t/day ore rate and parallel resource expansion.

• Key economic metrics: C$96m liquidity (Q1), phase 1 cash outlay C$30m, plant recovery rates up to 94%.

• Project timeline includes phased commissioning, ramp-up, and steady-state operation through 2025.

Exploration and resource growth

• Aggressive resource expansion at Nalunaq, targeting a 2.0 Moz exploration goal with extensive surface and underground drilling.

• 2024 drilling program focuses on both Main and 75 Vein extensions, with mineral resource updates scheduled.

• Holds 13 exploration licenses across >6,000 km² in South Greenland, covering gold and strategic minerals.

• South Greenland identified as highly prospective for gold, copper, REE, and nickel, with multiple active projects.