Mr. Ronald Thiessen of Amarc reports

AMARC AND THOMPSON CREEK PROGRESS AT IKE ON POSITIVE RESULTS

Exploration work has commenced at the new IKE porphyry copper-molybdenum-silver discovery and surrounding district. Core drilling, combined with regional geological, geochemical and geophysical surveys, is now under way. Amarc Resources Ltd. is the current operator of the IKE project, in partnership with Thompson Creek Metals Company Inc., which is financing $3-million of expenditures over 2016 to continue earning into the IKE project.

Eighteen holes (10,437 metres) drilled at IKE in 2014/2015 all intersected varying amounts of chalcopyrite and molybdenite mineralization over an increasingly broad area measuring 1,200 metres east-west by 1,000 metres north-south and extending to depths of over 500 metres (see Amarc's news release dated Dec. 9, 2015). This major new British Columbia porphyry copper discovery remains open to expansion in all lateral directions and to depth. Grades returned over long continuous drill intercepts compare favourably with the range of copper-equivalent grades at active British Columbia porphyry copper mines.

This year, a drill rig is on site to complete holes that will continue to outline the southern extension of the IKE deposit. In addition, the current program will test the previously undrilled IKE West deposit target located 800 metres west of the IKE deposit (see Amarc's corporate presentation on the company's website).

Exploration results from Amarc's district-wide surveys completed in 2014/2015, combined with historical fieldwork by previous operators and the tendency of porphyry deposits to cluster, indicate a number of important-scale porphyry deposit targets proximal to the IKE discovery. These targets have high potential to host additional bulk-tonnage porphyry copper (plus or minus gold plus or minus molybdenum plus or minus silver) mineralization. Currently, the first comprehensive geological mapping of the entire IKE district is being completed. In addition, talus geochemical sampling and induced polarization ground geophysical surveys are progressing over a number of compelling targets that sit outboard of IKE. These surveys will be fully integrated with all available Amarc and historical data with the goal of establishing additional high-quality mineral deposit targets for drilling next year.

To efficiently advance the IKE porphyry copper discovery and surrounding district, Amarc has partnered with Thompson Creek (see Amarc's news release dated Feb. 29, 2016). Under that agreement, Thompson Creek can earn an initial 30-per-cent interest in the IKE project by financing $15-million of expenditures before Dec. 31, 2019, of which $3-million was completed in 2015 and an additional $3-million has been committed for 2016. By completing the financing of an initial $5-million of expenditures, Thompson Creek has earned its first incremental 10-per-cent interest in the project. After Thompson Creek earns a 30-per-cent interest, it may earn an additional 20-per-cent interest in the IKE project, for a total of a 50-per-cent joint venture interest by, among other things, completing a feasibility study.

With the IKE project under way and Thompson Creek on board as a strong financing partner, Amarc is now assessing the acquisition of other porphyry copper properties in British Columbia with the goal of expanding the company's portfolio of high-quality mineral projects.

About the IKE project

The new IKE discovery is located 45 kilometres northwest of the historical mining communities of Gold Bridge and Bralorne in south-central British Columbia, near the heartland of the province's producing porphyry copper mines. Amarc's discovery core drilling is located above the treeline within a large and barren cirque. Although current access to the property is by helicopter, there is good infrastructure in the region. Mainline logging roads leading east from Gold Bridge are located 20 kilometres to the south of IKE. Power, railways and highways are all available in the area of Gold Bridge and the nearby town of Lillooet.

Amarc is fully committed to working constructively with governments and stakeholders toward the responsible development of the IKE project, while contributing to the sustainable development of local communities. All work programs are planned to achieve high levels of environmental performance and local benefit, including providing opportunities for employment, contracting and training for local people. Amarc is committed to meaningful and constructive engagement with first nation communities and has offered and remains open to establishing comprehensive and progressive agreements at IKE. The company also works pro-actively to support government's consultation duties to assist with timely and fair decision making.

Qualified person as defined under National Instrument 43-101

Mark Rebagliati, PEng, a qualified person as defined under NI 43-101, has reviewed and approved the technical content of this release.

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