Amaroq Minerals Ltd. provided details of its 2022 Kobberminebugt project exploration programme. Amaroq Exploration Programme: Amaroq acquired the licence covering these occurrences in the summer of 2021, following the conclusion of its mineral system modelling of South Greenland. The exploration conducted across the licence in 2022 consisted of early-stage geological reconnaissance of the metavolcanic/granite contact zones at Josva and up to 40km along strike of the Kobberminebugt shear zone.

This work included detailed drone surveying of the outcropping mineralisation at Josva at surface and within the historic adit system. The aim of this programme was to confirm the presence and style of the mineralisation, assess its potential to host a mineral resource through extensions of the historical mine and in multiple bodies along strike and review the most suitable way to generate targets across this licence block in 2023. The Company's field work indicated massive copper sulphide bearing (bornite, chalcopyrite, chalcocite) mineralisation hosted in a sheared vein system that parallels the Kobberminebugt shear.

These veins are hosted within a roughly 25m wide diopside-hornblende skarn exhibiting a strong cleavage and hosting lower grade copper mineralisation. This zone is in direct contact with hydrothermally altered Ketilidian granites. Samples of these vein systems returned up to 4.2% Cu over 2.5m including 11.6% Cu over 50cm.

Minor gold and silver grades were also reported. The Amaroq geology team is now confident in the skarn origin to this mineralisation at Kobberminebugt which opens up the potential for multiple mineralised skarns along the granite contact zone which extends ~40km to the northeast and in a further ~35km contact zone in the north of the licence. This highlights the copper potential of this area of the South Greenland copper belt.

Further, from assessing the attitude of the surface mineralisation at Josva, the team believes there is potential that this narrow mineralisation style could open up at depth or along strike, indicating mine scale tonnages. It is hypothesised these skarns formed late in the orogenic sequence that saw the subduction of material below the Archean craton to the North. These regions along the final suture zone are considered particularly prospective for Iron Oxide, Copper, Gold (IOCG) mineralisation and related hydrothermal and magmatic mineralisation styles.

2023 Exploration Programme: Amaroq intends to follow this exploration with a detailed assessment in 2023 of the skarn geometry and minerology, and plans to generate targets at depth at Josva and along strike of the skarn contact zones and Kobberminebugt shear system through commissioning a detailed airborne geophysical programme utilising a similar system to that successfully employed across the Company's other Greenland assets.