Dr. Diane Nicolson reports

AMARC ANNOUNCES LOAN EXTENSION

Amarc Resources Ltd. has entered into third loan amendment agreement dated Nov. 25, 2024, with a lender who is a director and significant shareholder of the company. Pursuant to the amendment agreement, the repayment date of the $1-million loan thereunder was extended from Nov. 26, 2024, to Nov. 26, 2025. The other terms of the loan remain unchanged.

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 British Columbia. By combining high-demand projects with dynamic management, Amarc has created a solid platform to create value from its exploration-stage and development-stage assets.

Amarc is advancing its 100-per-cent-owned Ike, Duke and Joy porphyry copper-plus-or-minus-gold districts located in different prolific porphyry regions of Southern, central and Northern British Columbia, respectively. Each district represents significant potential for the development of multiple and important-scale porphyry copper-plus-or-minus-gold deposits. Importantly, each of the three districts is located in proximity to industrial infrastructure -- including power, highways and rail.