Dr. Diane Nicolson reports

AMARC COMPLETES COMPREHENSIVE FIELD PROGRAMS TO ASSESS PORPHYRY COPPER-GOLD TARGETS ACROSS THE DUKE DISTRICT

Amarc Resources Ltd. has completed extensive airborne and surface exploration surveys on its 100-per-cent-owned Duke porphyry copper-gold (Cu-Au) district in central British Columbia. These comprehensive surveys were designed to assess 16 porphyry Cu-Au targets located across the District, to confirm highest priority targets for drill testing in 2024. Through 2023, $10 million in exploration expenditures at the DUKE District are being fully funded under the Mineral Property Earn-in Agreement with Boliden Mineral Canada Ltd. ("Boliden") (see Amarc news release November 22, 2022). Amarc is project operator. The results from the surveys will be released as soon as they are compiled and interpreted.

"These comprehensive District-wide field surveys have provided valuable new information over prioritized deposit targets, especially when combined with the knowledge gained about porphyry copper deposits in the greater District from our DUKE Deposit 2022-2023 drilling," said Amarc President & CEO Dr. Diane Nicolson. "All survey results from this inaugural District wide program are now streaming in and are being compiled, reviewed and actively prioritized in order to confirm our 2024 drill program."

Program Overview

Exploration works, including extensive airborne magnetic geophysical and LiDAR surveys [1] and also ground Induced Polarization ("IP") geophysical, soils geochemistry and geological mapping surveys focused on 16 porphyry Cu-Au deposit target areas. The principal components of the 2023 surveys completed include:5,759 line-km of high resolution airborne magnetics678 km 2 of LiDAR68 line-km of ground magnetics122 line-km of IP geophysics6,079 grid soil sample geochemistry analyses315 rock sample geochemistry analysesFramework and localized detailed geological mapping

The 16 prospective target areas were selected based on a comprehensive compilation of government and historical exploration data from over the entire District. The study highlighted the low exploration maturity of the productive Babine porphyry Cu-Au region and provided a new interpretation of the District's geological, geochemical and geophysical characteristics. These datasets included >2,300 regional geochemical samples, 116,344 line-km of airborne magnetic and radiometrics, and 25,500 line-km of aerogravity (see Amarc's DUKE Project 2020 Technical Report, available on the website at https://amarcresources.com/projects/duke-project/technical-report/ ).

As mentioned above, the extensive data from the 2023 surveys is currently being compiled. Once appropriately verified and integrated into existing historical datasets, it will be released. For information relating to Amarc's 2022 and 2023 DUKE drilling, see Amarc releases February 15, 2023 and June 15, 2023.

About Amarc Resources

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 Cu-Au 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 Cuplus or minusAu Districts located in different prolific porphyry regions of southern, central and northern BC, respectively. Each District represents significant potential for the development of multiple and important-scale, porphyry Cuplus or minusAu deposits. Importantly, each of the three districts is located in proximity to industrial infrastructure - including power, highways and rail.

Boliden Mineral Canada Ltd. ("Boliden"), an entity within the Boliden Group of companies at DUKE and Freeport-McMoRan Mineral Properties Canada Inc. ("Freeport"), a wholly-owned subsidiary of Freeport-McMoRan Inc. at JOY, can earn up to a 70% interest in each District through staged investments of $90 million and $110 million, respectively. Together this provides Amarc with potentially up to $200 million in non-share dilutive staged funding. Amarc is the operator of both programs.

Amarc is associated with HDI, a diversified, global mining company with a 35-year history of porphyry Cu deposit 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, PINE and DUKE. 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 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

Dr. Roy Greig, P.Geo, a Qualified Person ("QP") as defined by National Instrument 43-101, has read and approved all technical and scientific information related to the Duke Project contained in this news release. Dr. Greig is Amarc's Vice President, Exploration.

For further details on Amarc Resources Ltd., please visit the Company's website at www.amarcresources.com or contact Dr. Diane Nicolson, President and CEO, at (604) 684-6365 or within North America at 1-800-667-2114, or Kin Communications, at (604) 684-6730, Email: AHR@kincommunications.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF AMARC RESOURCES LTD.

Dr. Diane NicolsonPresident and CEO

We seek Safe Harbor.