Amaroq Ltd. · LSE:AMRQ
Amaroq — Investor Presentation (2025)
25 slides from Amaroq's investor presentation, 2025
Slide 1: The West Greenland Hub: A Pathway to Greenland's Next Mine
THE WEST GREENLAND HUB A PATHWAY TO GREENLAND’S NEXT MINE www.amaroqminerals.com | AIM: AMRQ; TSXV: AMRQ www.amaroqminerals.com | AIM: AMRQ; TSXV: AMRQ
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 Ltd (the “Company”). The presentation and the informat
Slide 3: West Greenland Hub Highlights
WEST GREENLAND HUB Highlights • Re-assayed bulk sample material from within the Black Angel deposit confirms the high-grade nature of the mineralisation, averaging 24.6% zinc, 28.1% lead and 295 g/t silver. • Commercial levels of germanium (44 ppm) and gallium (21 ppm) and cadmium (1,328 ppm) also i
Slide 4: Amaroq's Expanded Portfolio
AMAROQ’S EXPANDED PORTFOLIO Critical Metals Along the Ancient Atlantic Margins GR AVUT EENLAND MINERALISATION WHERE ANCIENT CONTINENTS MEET UN An expanding portfolio shaped by the same N tectonic forces that endowed Scandinavia and Canada with world-class mineral resources. CRITICAL MINERALS ROOTED
Slide 5: Working Across Two Hubs
WEST GREENLAND HUB WORKING ACROSS TWO HUBS Two Greenland Hubs—Unlocking a Continental Scale Opportunity KANGERLUARSUK (Zn, Pb, Ag) Amaroq now operates across two strategic hubs in BLACK ANGEL (Zn, Pb, Ag) WEST Greenland. In the south, our team is based at the operating SOUTH Nalunaq Gold Mine, provi
Slide 6: Creation of West Greenland Hub
Additional Regional Growth Opportunities CREATION OF WEST GREENLAND HUB Au Au Located within an active high potential exploration district REE BLACK ANGEL Kangerluarsuk (Zn, Pb, Ag) Former producing high grade room and pillar mine with significant in situ infrastructure and >176,000m of core drillin
Slide 7: West Greenland Hub Strategy
WEST GREENLAND HUB STRATEGY Three Stages, One Vision - Redevelop, Discover, Grow STAGE 1 – Black Angel Development Assess and grow the current Mineral Resources at Black Angel towards Reassessment of current models, mining options, new surface drilling a critical size and development decision progra
Slide 8: Black Angel
Le % LA BLACK ANGEL
Slide 9: Key Information: Location and Licences
KEY INFORMATION Location and Licences MEL 2020-26 MEL 2025-171 MEL 2025-171 The project is located in central western Greenland, approximately 200 km north of Ilulissat—a major regional hub of 7,000 people with direct flight connections to Reykjavik, Iceland. The licence area surrounds the historic
Slide 10: Key Information: Discovery and Historical Production
KEY INFORMATION Discovery and Historical Production 1930s Discovered during marble quarrying Original Discovery investigations. 11.2Mt Operated continuously from 1973 to 1990 (17 years) producing 11.2Mt @ 12.6% Zn, Historical Production 4.1% Pd, 28g/t Ag. Room & Pillar With substantial in-situ high-
Slide 11: Key Information: Current Resources
KEY INFORMATION Current Resources At a grade of 8.2% Zn, 2.9% Pb and 4.4mt 11g/t Ag. 87% Indicated ~380Kt of Current Mineral Resource contained Zn equivalent ~US$1.1Bt Pillar Mineral Resource, 2007 Area Class Kt Pb% Zn% Angel Indicated 791 4.5 13.0 Cover Indicated 522 2.4 8.3 TOTAL 1,313 2.6 7.5 A f
Slide 12: Further Geological Potential
FURTHER GEOLOGICAL POTENTIAL Potential for a Growing Resource Base Discovery of 'Buckshot' Sulphide – Key Highlights • A 2022 study by iCRAG, and GEUS mapped large parts of the Black Angel licence area. • This led to a new geological and structural model identifying potential satellite deposits. • A
Slide 13: Remaining Resources and Exploration Potential
FURTHER GEOLOGICAL POTENTIAL Remaining Resources and Exploration Potential Deep Ice Cover Zone Angel Zone Glacier Zone 1.73Mt Arc Zone 492Kt Nunngarut Historical Mine Areas Nunngarut Retreating Ice 55.5Kt Exploration Potential Regional Prospectivity Model draped over topography Slide: 12 Amaroq – Th
Slide 14: Deep Ice Potential
DEEP ICE POTENTIAL Open Ground Hosting High Grade Intersects in Widely Drilled Areas V-125 1.3% Pb+Zn 9.4m V-215 6.0% Pb+Zn 12.8m V-126 V-149 1.6% Pb+Zn 4.2% Pb+Zn 2.3m 2.7m V-206 V-146 12.4% Pb+Zn 6.4% Pb+Zn 13.5m 1.4m Tributary V-182 5.4% Pb+Zn V-142 2.2m 5.9% Pb+Zn V-216 1.5m 32.6% Pb+Zn Cover 6.
Slide 15: Deep Ice Potential: Open Ground
DEEP ICE POTENTIAL Significant exploration potential remains in the coarsely drilled areas east of Deep Ice 1, with Open Ground Hosting High Grade Intersects in Widely Drilled Areas sufficient space to host substantial additional high-grade resources. Deep Ice Target C Three key open ground target z
Slide 16: By-Product Potential: Germanium, Gallium & Cadmium
BI-PRODUCT POTENTIAL Germanium, Gallium Newly realised critical mineral potential within the Black Angel material & Cadmium Critical Minerals and Their Uses Amaroq conducted a programme of re-assaying of a historical bulk sample, taken by the previous owner, from the Angel and Cover orebody. The res
Slide 17: Opportunity Summary
OPPORTUNITY SUMMARY Aggressive Resource Goal: Aiming to outline sufficient additional tonnage of high-grade Zn-Pb resources to spearhead the reopening the mine (targeting similar scale to historical production). Proven High Grades: Black Angel was a past-producing operation (1973– 1990) that milled
Slide 18: Assets and Logistics
ASSETS AND LOGISTICS On-Site Infrastructure: Mine Camp at Maarmorilik: • Accommodation for 30+ personnel • Offices, medical room, canteen • Water treatment plant with desalination • Internet & telecoms via mountaintop relay stations Underground Mine Infrastructure: • Access tunnels: 6 km developed •
Slide 19: Black Angel Restart Options
BLACK ANGEL RESTART OPTIONS Restarting Black Angel: Fast-Track Revenues or Long-Term Growth Two clear restart pathways are under evaluation for Black Angel. A fast-track “Short Cut Option” would leverage existing feasibility work to bring operations online quickly, while the “Maximum Resource Option
Slide 20: Kangerluarsuk & Growth Options
KANGERLUARSUK & GROWTH OPTIONS
Slide 21: Kangerluarsuk: High-Grade Zinc and Silver Next to Black Angel
KANGERLUARSUK High-Grade Zinc and Silver Next to Black Angel The Kangerluarsuk Project hosts high-grade, stratabound Zn-Pb-Ag ± Cu mineralisation within the Paleoproterozoic Karrat Group, only 12 km north of the historic Black Angel Mine. Early exploration has confirmed multiple outcropping zones Ka
Slide 22: Kangerluarsuk: A Geological Connection to Black Angel
KANGERLUARSUK A Geological Connection to Black Angel Black Angel is a Mississippi Valley-Type (MVT) zinc-lead- silver deposit hosted in a carbonate sequence formed within a deepening marine basin. Just to the north, Kangerluarsuk represents a SEDEX-style deposit developed in the deeper water part of
Slide 23: Regional Play Strategy
REGIONAL PLAY STRATEGY Au Au Building a Regional Hub—Reviving Black Angel to Unlock New Frontiers REE Kangerluarsuk (Zn, Pb, Ag) Black Angel and Kangerluarsuk sit within the Karrat sedimentary basin and form the centre of Amaroq’s West Greenland Exploration Amaroq’s South Greenland Hub Hub. Black An
Slide 24: Next Steps: Planning for 2026 and Beyond
NEXT STEPS Planning for 2026 and beyond • Black Angel Site Rehabilitation – assessing upgrade requirements to facilitate a growing exploration and mine development effort. • Mine Rehabilitation Options – conducting a review of the underground conditions and rehabilitation requirements from the cable
Slide 25: Contact Us
www.amaroqminerals.com www.amaroqminerals.com CONTACT US AMAROQ 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 AIM, TSXV, Nasdaq: AMRQ