Of course, you can make money but the BIGGEST problem is that if those people haven't given you the permission to mail them, you will get into trouble. I have a huge list of email addresses of active US college students but I can't monetize it because I don't know how to avoid spam folder. I tried a few things but I got banned quickly like Mailchimp, Elasticemail. I even tried Mail-in-a-box on Digital Ocean server but it is tedious to set it up and Roundcube can't send emails in bulk. And, you'll probably get banned quickly.
In your case, you need to know something about the audience to choose an offer. If you don't know anything about the list, it is mostly useless.