Amaroq's Nalunaq Gold Mine Surpasses 500koz Resource Mark — Amaroq Ltd.

Event summary

Amaroq's updated mineral resource estimate for Nalunaq shows 504koz of contained gold, a 4.1% increase from previous estimates.
Indicated resources rose by 10.6%, now totaling 174koz at an average grade of 30.35g/t Au.
The update was prepared by Bara Consulting and includes 6,467m of new drilling data as of December 2025.
Exploration target identified for additional Main Vein potential ranges between 400kt–2.2Mt at grades of 10–30g/t Au.

The big picture

Amaroq's updated resource estimate strengthens its position as a high-grade gold deposit, aligning with broader industry trends of resource expansion in challenging mining environments. The increase in indicated resources supports the company’s pathway toward declaring a maiden mineral reserve, a critical step for attracting investment and advancing mine development. The exploration target identified beyond current resources highlights significant potential for further growth.

What we're watching

Resource Conversion: How Amaroq will prioritize further definition drilling to convert inferred resources into indicated or measured categories.
Mine Planning: The pace at which the strengthened technical foundation will support mine planning and studies for a maiden mineral reserve declaration.
Exploration Potential: Whether additional high-grade intersections from ongoing drilling will provide upside for future resource updates.