Amaroq Ltd. · LSE:AMRQ
Amaroq — Amaroq Minerals — Investor Presentation (January 2025)
26 slides from Amaroq's investor presentation, January 2025
Slide 1: Corporate Presentation
CORPORATE PRESENTATION January 2025 www.amaroqminerals.com | AMRQ Amaroq Minerals Ltd. is a Greenland-focused mining company engaged in the identification, acquisition, exploration and development of gold and strategic metals properties in Greenland.
Slide 2: Disclaimer and Technical Information
DISCLAIMER AND TECHNICAL INFORMATION The information contained herein has been provided solely for information purposes and does not purport to be comprehensive or contain all the information that may be required by recipients to evaluate Amaroq Minerals Ltd (the “Company”). The presentation and the
Slide 3: Highly Experienced Board and Executive Management Team
HIGHLY EXPERIENCED BOARD AND EXECUTIVE MANAGEMENT TEAM Eldur Olafsson Ellert Arnarson Joan Plant Founder, President & CEO Chief Financial Officer Executive Vice Board Member President BOARD MEMBERS MANAGEMENT TEAM Graham Stewart Warwick Morley-Jepson Non-Executive Chairman Non-Executive Director Jam
Slide 4: Amaroq Investment Case
AMAROQ INVESTMENT CASE Amaroq Minerals Nordic resource development strategy Development & Exploration Logistics & Renewable Mining Servicing Energy Shortest, lowest risk path to 1 cashflow via the re-development of Nalunaq Nalunaq cashflow to self-fund and 2 unlock the true gold and strategic minera
Slide 5: Greenland Supports the Main Growth in the Nordics
GREENLAND SUPPORTS THE MAIN GROWTH IN THE NORDICS Amaroq – largest licence holder in South Greenland Members of The European Self-governing country within Raw Materials Alliance the Kingdom of Denmark (ERMA) with +90 Operating closely associated with the EU, Companies although not a member Supportiv
Slide 6: Corporate Summary
CORPORATE SUMMARY High-quality register with a substantial base Ticker: of institutional shareholders AMRQ (AIM / TSX-V / NASDAQ Iceland) Other UK & Canada investors Icelandic Pension Funds 15% and Insurance Companies 21% Financial highlights • ~398M – issued share capital Board and management 10% •
Slide 7: Gold Portfolio Nalunaq A/S
GOLD PORTFOLIO NALUNAQ A/S Amaroq Minerals: Corporate Profile
Slide 8: Amaroq's Gold Portfolio
AMAROQ’S GOLD PORTFOLIO TARTOQ NANOQ NANORTALIK GOLD BELT EAGLE’S NEST 2,013 km2 12 VAGAR RIDGE Current Licence Holding Active project Sites NALUNAQ GOLD MINE 1 (Nalunaq) Producing Assets Slide: 7 Amaroq Minerals: Corporate Profile
Slide 9: Nalunaq – Operating Mine Layout
NALUNAQ – OPERATING MINE LAYOUT MINING FRONT 1 Underground Production, Surface Processing and Camp and Port MOUNTAIN BLOCK MINING FRONT 2 TARGET BLOCK HARBOR CAMP TRIAL MINING AREA TEMP FUEL STORAGE MOUNTAIN MINE ROAD BLOCK MINING FRONT 3 VALLEY BLOCK 450 LEVEL TARGET BLOCK 300 PORTAL TAILINGS SOUTH
Slide 10: Nalunaq Mine – Construction Metrics
NALUNAQ MINE – CONSTRUCTION METRICS Estimated Construction Metrics 3,500+T ~40,000T CARGO DELIVERED MATERIAL MINED TO DATE 1,535 m3 600+ MATERIAL USED IN ROAD CONSTRUCTION 20ft CONTAINERS DELIVERED 11,500T +100T 9,250 OVERBURDEN REMOVED EXPLOSIVES DEVLIVERED MAN-DAYS ~170,000T 4 MATERIAL MOVED TO CR
Slide 11: The Nalunaq Gold Mine
THE NALUNAQ GOLD MINE Slide: 10 Amaroq Minerals: Corporate Profile
Slide 12: Nalunaq Key Metrics 2025
NALUNAQ KEY METRICS 2025 Q1-2025 Q2-2025 Q3-2025 Q4-2025 Ave. Processing Rate (t/day)1 140-160t/d 190-210t/d 240-260t/d 260-300t/d Plant Recovery1 65-70% 70-80% 80-90% 90-94% Phase 1 (Gravity) Total Capital Cost US$104.8m Phase 2 (Flotation) Cash Outlay1 US$2.9m US$2.6m Phase 1 @ 31/10 85% Complete
Slide 13: Nalunaq Resource Growth
NALUNAQ RESOURCE GROWTH Main Vein Resource Growth Underground Current Mineral Resource 2024 Surface Drilling Drilling 320Koz @ 28 g/t Au 2.99Km MOUNTAIN Exploration Target 2024 Underground Drilling BLOCK 2Moz 3.7Km (Planned) TARGET BLOCK Ave Thickness 0.7m Planned Underground Highest Grade Intersect
Slide 14: Nalunaq Resource Growth – Vein Potential
NALUNAQ RESOURCE GROWTH 75 Vein Potential Current Mineral Resource 2024 Surface Drilling TBD 2.89Km Exploration Target 2024 Underground Drilling TBD 3.7Km (Planned) Ave Thickness 0.7m Resampling programme Highest Grade Intersect from historical drilling to 256g/t Au over 0.5cm further test 75 Vein h
Slide 15: Nanoq Gold Project
NANOQ GOLD PROJECT NANOQ Further High-Grade Projects within the Nanortalik Gold Belt Historical results up to 175g/t Au over 0.8m JOKUM’S SHEAR Nanoq, along with Jokum's Shear, sits on a 20km structural corridor within the Nanortalik Gold Belt. Originally discovered by Goldcorp in 1997 and re- disco
Slide 16: Nanoq Gold Project
NANOQ GOLD PROJECT Conceptual Exploration and Development Programme Stage 1 (2024) – Scout drilling to confirm mineralization style and potential grades, offering insights into operational requirements. Stage 2 (2025) – Systematic drilling focused on understanding geometry, grade continuity, metallu
Slide 17: Nalunaq Satellite Projects
NALUNAQ SATELLITE PROJECTS TOM’S VEIN (Up to 9.25g/t Au) Near Plant Opportunities EAGLE’S NEST (Up to 34g/t Au) IVITUUT EAST RIDGE (Up to 86.7g/t Au) VAGAR RIDGE (Up to 2,533g/t Au) BISMUTH VALLEY (Up to 3g/t Au) JOHN’S LAKE SHIP MOUNTAIN NALUNAQ GOLD MINE Gold Exploration Licence Nalunaq Mining Lic
Slide 18: Strategic Minerals Gardaq A/S JV (51%)
STRATEGIC MINERALS GARDAQ A/S JV ( 5 1 % ) Amaroq Minerals: Corporate Profile
Slide 19: Amaroq's Strategic Mineral Portfolio
AMAROQ’S STRATEGIC MINERAL PORTFOLIO 1 COPPER – Proven Porphyry Potential JOHAN DAHL LAND 2 NICKEL – Voisey’s Bay Analogy Copper TARGET NORTH 3 RARE EARTH – Gardar Province Copper/Gold TARGET WEST Copper JOSVA Copper NUNARSUIT /Nickel/REE 4,246 km2 >20 LICHTENAU STENDALEN Copper/Nickel Current Licen
Slide 20: 2025 Exploration Growth Strategy
2025 EXPLORATION GROWTH STRATEGY Future Programme – Results Dependant Upcoming Exploration News flow 75 Vein Resampling Results Gold Strategic Minerals Nalunaq 2024 Surface Drilling Results Nalunaq Outcrop Sampling Results Nanoq Scout Drilling Results Nalunaq New Copper Definition & Infill Target De
Slide 21: Servicing Assets, Services & Supplies for Emerging Mining Frontier
SERVICING ASSETS, SERVICES & SUPPLIES FOR EMERGING MINING FRONTIER Providing sustainable uplift for Nordics via increased supply chain transparency, availability and cost savings Pricing Re-investment Debt assumption 80% of available cash re-invested for the Long-term debt financing at 12% Cost of C
Slide 22: Renewable Energy Strategy
RENEWABLE ENERGY STRATEGY To provide renewable energy option to Amaroq’s mining and exploration operations Nalunaq o Process Plant – Hydroelectric power to reduce diesel usage o Mining – in discussion with equipment providers to acquire battery run equipment to reduce ventilation and diesel requirem
Slide 23: Nalunaq Renewable Energy Production
NALUNAQ RENEWABLE ENERGY PRODUCTION Hydro and Wind Nalunaq Hydro CAPEX - CAD 6,0m Capacity 700 kW Generation 3.5 GWh/yr Annual diesel savings 1.2m L Annual cost savings 1.97 mCAD Annual OPEX 80 kCAD Net savings 1.89 mCAD/yr Reduced CO2 emissions 3.15 t/yr Nalunaq Wind CAPEX - CAD 1,8m Capacity 300 k
Slide 24: Creating a Greenlandic Legacy Based on Nordic Principles
CREATING A GREENLANDIC LEGACY BASED ON NORDIC PRINCIPLES Empowering Greenland to become a strategic supplier of gold and the materials needed to power a greener future Returned Reitun ESG Rating February 2024 B3. We follow the Global Reporting Initiative (GRI) Standards when collecting data so we ca
Slide 25: 2024-25 Milestones / News Flow
2024-25 MILESTONES / NEWS FLOW Q4-2024 Q1-2025 Q2-2025 Q3-2025 Q4-2025 Q1-2026 Q1 Q1 NALUNAQ 1st Gold Phase 1 MRE4 Phase 2 Steady State MRE5 Commission Commission Operation EXPLORATION Exploration Start of Initial Exploration Results Exploration Results Results REGULATORY, SERVICES/ENERGY Quarterly
Slide 26: Contact Us
www.amaroqminerals.com CONTACT US AMAROQ MINERALS LTD 100 King Street West, Suite 3400, 1 First Canadian Place, Toronto, Ontario, M5X 1A4, Canada Eldur Olafsson, Chief Executive Officer AIM, TSXV, Nasdaq: AMRQ
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