High-Grade Iron and Copper/Gold Potential Confirmed at Minturn Prospect Reykjavík, Jan. 21, 2026 (GLOBE NEWSWIRE) -- Amaroq Ltd.(“Amaroq” or the “Company”) High-Grade Iron and Copper/Gold Potential Confirmed at Minturn Prospect ** Grades of up to 69.5% iron across 9km strike of surface magnetite **–**Sampling suggests Copper Gold potential within parallel Electromagnetic (EM) anomaly ** TORONTO, ONTARIO – 21 January 2026 – Amaroq Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ, OTCQX: AMRQF), an independent mine development corporation focused on unlocking Greenland’s mineral potential, is pleased to announce significant exploration results from the 2025 field campaign at its Minturn prospect, north of the US Pituffik Space Base in Northwest Greenland. Indications suggest Minturn is a large-scale, mineralised system, with extensive iron oxide alteration and brecciation, similar to other well-known Iron Oxide Copper Gold (“IOCG”) deposits. These results highlight Minturn’s significant potential as a new IOCG discovery, in a frontier region of Greenland. James Gilbertson, VP Exploration of Amaroq, commented:“These initial results from Minturn demonstrate that Greenland has the geological ingredients to host truly elephant-scale mineral systems. The identification of what appears to be a Kiruna-style IOCG project, underpinned by extensive iron oxide alteration and very high iron grades at surface, represents a significant strategic step for Amaroq and its joint venture company, Gardaq. Additionally, the scale of the system and the presence of magnetic and electromagnetic anomalies, point to the potential for copper and gold mineralisation within a broader IOCG framework. We are now in active planning for a 2026 programme of scout drilling, detailed mapping and ground geophysics, to properly test the scale, geometry and economic potential of this emerging system.” Highlights Amaroq believe that Minturn represents a highly strategic opportunity, in which the discovery of a Kiruna-type IOCG system in this region would be of international significance, reinforcing Greenland’s prospectivity for large “critical mineral” deposits, beyond gold and adding a new dimension to Amaroq’s growth pipeline.Reprocessing and reinterpretation of historic geophysical datasets, has resulted in an improved geological model, revealing a significant mineralised system over a large linear 80km zone.High-grade iron assays from surface samples, returned iron (Fe) grades up to 69.5% Fe. These exceptional grades (66–69% Fe in multiple samples), underscore the presence of a significant iron-oxide core within the system.The extensive iron oxide-rich alteration discovered, is calibrated to a significant magnetic anomaly, indicative of a large and robust IOCG-style system over a ~9 km trend.Minturn represents the opportunity for Direct Shipping Ore (DSO) for Direct Reduced Iron (DRI) products (Soil sampling across the magnetic anomaly and a parallel Electromagnetic (EM) anomaly, suggest the potential for copper and gold within a broader IOCG deposit model.Geophysical and geochemical indicators are being evaluated, to target potential Cu-Au enriched centres in future work.Based on these encouraging results, Amaroq is designing an aggressive follow-up campaign for 2026, that may include scout drilling, detailed mapping, and ground geophysical surveys to delineate the extent of the mineralised system The accompanying presentation on the Minturn results is available on our website at the link below: https://www.amaroqminerals.com/investors/presentations/ Background to the Minturn ProjectThe Minturn project in northwest Greenland, north of the US Space Base at Pituffik, is a key addition to Amaroq’s growing strategic minerals portfolio, within its strategic JV company Gardaq, reflecting the Company’s drive to unlock Greenland’s mineral potential, beyond gold. Minturn was first investigated by Government owned NunaMinerals in 2010, when an extensive magnetic anomaly (~80 km long) was identified in the Inglefield Land region. NunaMinerals collected surface float samples of massive magnetite that averaged about 62.4% iron (Fe) – high iron grades. At the time, this occurrence was interpreted as a vanadium-rich titanomagnetite (iron) system, essentially an iron deposit with high Fe (and accessory titanium and vanadium) values, rather than a potential copper-gold target. Amaroq’s team revisited the historical data and applied modern processing and interpretation techniques to the geophysical surveys. This re-analysis revealed that the earlier data may have been misunderstood, indicating a much larger and more complex mineralised system than initially thought. The new geological model suggests that Minturn is likely a Kiruna-style Iron Oxide Copper Gold (IOCG) system, characterised by extensive iron oxide alteration and brecciation – features typical of IOCG deposits. Kiruna-style IOCG systems are known for hosting large-scale, high-grade, multi-commodity deposits