Dr. Diane Nicolson reports

AMARC, FREEPORT-MCMORAN MINERAL PROPERTIES CANADA INC. CONTINUE EARN-IN AT JOY COPPER-GOLD DISTRICT INTO 2022

Amarc Resources Ltd. has continued its earn-in with Freeport-McMoRan Mineral Properties Canada Inc. into a second drilling season at the company's Joy copper-gold district located in the Toodoggone region of the Golden Horseshoe trend in north-central British Columbia. In November, Amarc announced that Freeport invested $5.94 million in 2021.

"We are excited at the opportunity to continue to advance JOY in collaboration with Freeport into 2022," said Amarc President & CEO Dr. Diane Nicolson. "The combined porphyry copper-gold exploration and discovery capabilities of our respective teams is now focused on integrating results as they are received from this year's field work into existing data sets. This work will define next season's comprehensive deposit delineation and district exploration programs and related budgets."

In addition to Amarc's collaboration with Freeport, Nicolson acknowledged the important contributions made by the Tsay Keh Dene, Kwadacha, Takla and Tahltan Nations over the course of an ambitious 2021 season, as well as by local government personnel and on-site contractors. She said the active participation of Indigenous groups and local stakeholders in Amarc's exploration program was fully supported by Freeport, which recognizes the important role of community engagement and involvement.

Results from Amarc's 2021 exploration activities will be released as they become available.

Chief Darryl McCook of the Kwadacha Nation commented: "We continue to be encouraged by the collaborative approach Amarc has taken with respect to working with First Nations on exploration activities at JOY. We will continue to work with Amarc to achieve its responsible mineral exploration goals at JOY, while developing a pathway for the sharing of future economic opportunities and benefits."

In June 2021, Amarc announced it had entered into a four-way Exploration Agreement with Takla Nation, Tsay Keh Dene Nation and Kwadacha Nation to: guide engagement and information sharing between the parties; establish a pathway for negotiating future agreements to support more advanced stages of development; and, deliver opportunities for employment, contracting and participation in environmental monitoring.

About Amarc Resources Ltd.

Amarc is a mineral exploration and development company with an experienced and successful management team focused on developing a new generation of long-life, high-value porphyry copper-gold mines in BC. By combining high-demand projects with dynamic management, Amarc has created a solid platform to create value from its exploration and development-stage assets.

Amarc is advancing its 100%-owned IKE, DUKE and JOY porphyry copperplus or minusgold districts located in different prolific porphyry districts in southern, central and northern BC, respectively. Each district represents significant potential for the development of multiple and important-scale, porphyry copperplus or minusgold deposits. Importantly each of the three districts is located in proximity to industrial infrastructure - including power, highways and rail.

Amarc is associated with HDI, a diversified, global mining company with a 30-year history of porphyry discovery and development success. Previous and current HDI projects include some of BC's and the world's most important porphyry deposits - such as Pebble, Mount Milligan, Southern Star, Kemess South, Kemess North, Gibraltar, Prosperity, Xietongmen, Newtongmen, Florence, Casino, Sisson, Maggie, IKE and Pine. From its head office in Vancouver, Canada, HDI applies its unique strengths and capabilities to acquire, develop, operate and monetize mineral projects.

Amarc works closely with local governments, Indigenous groups and other stakeholders in order to advance its mineral projects responsibly, and in a manner that contributes to sustainable community and economic development. We pursue early and meaningful engagement to ensure our mineral exploration and development activities are well coordinated and broadly supported, address local priorities and concerns, and optimize opportunities for collaboration. In particular, we seek to establish mutually beneficial partnerships with Indigenous groups within whose traditional territories our projects are located, through the provision of jobs, training programs, contract opportunities, capacity funding agreements and sponsorship of community events. All Amarc work programs are carefully planned to achieve high levels of environmental and social performance.

Qualified Person as Defined Under National Instrument 43-101

Mark Rebagliati, P. Eng., a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical content in this release.

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