Dr. Diane Nicolson reports

AMARC AND FREEPORT SUCCESSFULLY COMPLETE 2025 AURORA EXPANSION FOCUSED DRILL PROGRAM AT JOY COPPER-GOLD DISTRICT

Amarc Resources Ltd. has successfully completed the 2025 drill program at the Joy district in the Toodoggone-Kemess region of north-central British Columbia (B.C.). The 2025 drilling program was primarily designed to expand the Aurora deposit, where 2024 drilling discovered high-grade, near-surface copper-gold-silver (Cu-Au-Ag) mineralization with exceptional vertical and lateral continuity. The area drilled in 2024 measured 500 metres by 600 metres and remained open to expansion (see Amarc releases Jan. 17 and Jan. 20, and Feb. 28, 2025). In addition to the Aurora deposit, the 630-square-kilometre Joy district hosts the Pine and Brenda historical deposits, Twins and Canyon Discoveries, and multiple other Cu-Au deposit targets. Amarc believes the Aurora discovery could be key to the emergence of a potential world-class porphyry Cu-Au district in the Toodoggone.

As announced on Sept. 4, 2025, Freeport-McMoRan Mineral Properties Canada Inc. elected to proceed to Stage 2 of the Joy mineral property earn-in agreement by sole-funding a further $75-million to earn an additional 10-per-cent interest in Aurora Minerals Ltd. The Joy district is now being advanced under a private joint venture corporation agreement. The $15-million-plus 2025 exploration program is being financed by Freeport.

Highlights of the 2025 Joy district field program

• A total of 15,381 metres of core drilling was completed in 35 drill holes across the Joy district with up to four drill rigs (total to date of 127 Amarc drill holes for 54,497 m in since 2017).
• Of these, 24 core holes (9,687 m) were drilled at Aurora, consisting of 23 deposit stepout expansion holes and a single infill hole (total 2024 to 2025 is 45 drill holes for 17,586 m). The area drill tested at Aurora now extends over an area of approximately one kilometre by one kilometre.
• The 2025 program follows up 2024 Aurora Discovery drilling, a highlight intercept from hole JP24075 is:
  • 266 metres of 1.2 grams per tonne Au, 0.31 per cent Cu and 3.4 g/t Ag from 34 m;
  • Including 109 m of 2.41 g/t Au, 0.51 per cent Cu and 5.3 g/t Ag from 37 m.
• Partial assay results from Aurora hole JP25098 were recently announced; it is located approximately 260 m southeast of drill hole JP24079 and some 350 m east-southeast of drill holes JP24081 and JP24084, which are the nearest to the 2024 Aurora Discovery core holes. Hole JP25098 illustrates the potential for significant expansion at Aurora (see Amarc release Sept. 22, 2025). Host rocks, alteration and mineralization in JP25098 are consistent with those encountered in the 2024 Aurora discovery drill holes.
• Two thousand twenty-five drilling was also designed to further expand the Twins and Canyon Discoveries and to test other new high-potential Cu-Au deposit targets identified by surface surveys.
• Next assay results are expected later this month, with additional results to be released in batches over the coming months.

Other survey work completed in 2025 includes 64 line km of ground-induced polarization (total Amarc and historical to date 662 line km) and 96 square km of airborne magnetics (total Amarc and historical to date 532 square km) geophysics, approximately 90 square km of geological mapping and 938 grid soil (total Amarc and historical 9,321 samples), 640 rock chip (total Amarc and historical 2,881) and 319 silt geochemical samples.

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 Cu-Au mines in British Columbia. 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 the Joy, Duke and Ike porphyry Cu plus or minus Au districts located in different prolific porphyry regions of northern, central and southern B.C., respectively. Each district represents significant potential for the development of multiple and important-scale, porphyry Cu plus or minus Au deposits. Importantly, each of the three districts are located in proximity to industrial infrastructure -- including power, highways and rail.

Freeport-McMoRan Mineral Properties Canada Inc., a wholly owned subsidiary of Freeport-McMoRan Inc. at Joy and Boliden Mineral Canada Ltd., an entity within the Boliden Group of Companies at Duke, can earn up to a 70-per-cent interest in each district through staged investments of $110-million and $90-million, respectively. Together, this provides Amarc with potentially up to $200-million in non-share dilutive staged funding for these districts. In addition, Amarc completed self-financed drilling at its Empress Cu-Au deposit in the Ike district in 2024. Amarc is the operator of the Duke district. Amarc manages and has been appointed the primary contractor of the exploration at the Joy district on behalf of Aurora Minerals Ltd., the private joint venture corporation which holds the Joy district mineral rights and titles, and in which Freeport and Amarc hold 60 per cent and 40 per cent of the shareholding, respectively.

Amarc's exploration is led by an internationally successful team of experienced geologists specializing in porphyry Cu-Au deposits. Members of this team have been involved in and have tracked porphyry Cu-Au exploration advancements in the Toodoggone region since 1990. Their experience and early recognition of the porphyry potential at the NWG target in terms of a shallowly overburden covered and underexplored transitional epithermal-porphyry geological setting, led to the discovery of the Au-rich Aurora porphyry Cu-Au-Ag deposit.

Amarc is associated with HDI, a diversified, global mining company with a 35-year history of porphyry Cu deposit discovery, development and transaction success. Previous and current HDI projects include some of B.C.'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, Aurora, Pine, Ike 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. The company pursues early and meaningful engagement to ensure its mineral exploration and development activities are well co-ordinated and broadly supported, address local priorities and concerns, and optimize opportunities for collaboration. In particular, the company seeks to establish mutually beneficial partnerships with indigenous groups within whose traditional territories the company's 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

Mark Rebagliati, PEng, a qualified person (QP) as defined by National Instrument 43-101, has reviewed and approved the technical and scientific information in this news release. Mr. Rebagliati is not independent of the company.

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