Dr. Diane Nicolson reports

AMARC ADDS INVESTOR RELATIONS RESOURCE IN PREPARATION FOR THE 2026 EXPLORATION PROGRAM SET TO COMMENCE IN JUNE

Amarc Resources Ltd. has appointed Tom McMillan to vice-president, investor relations. This addition to the Amarc team is in anticipation of heightened investor engagement driven by the forthcoming 2026 exploration program and its subsequent results.

The company is currently working closely with Freeport-McMoRan Mineral Properties Canada Inc. to finalize planning for the 2026 exploration season at Joy, the flagship porphyry gold-copper district that is anchored by the high-grade Aurora deposit, the Pine deposit, and highly prospective Twins and Canyon discoveries.

"I look forward to working with Tom to advance and refine our communications efforts as we finalize planning for another active field season at the Joy and Duke districts. The 2025 exploration program at Joy continued to expand the gold-rich Aurora deposit, identified new areas of mineralization to the north and south, and revealed new potential at the Twins discovery and multiple other deposit targets across the Joy district. At the same time, we are planning the execution of the 2026 exploration program at our Duke porphyry copper-gold district in central British Columbia with our joint venture partner Boliden Mineral Canada Ltd.," said Amarc chief executive officer Dr. Diane Nicolson.

"Establishing a vice-president of investor relations is an important step forward in our market outreach strategy as we expand awareness of Amarc in North America and Europe. Tom brings more than 20 years of experience successfully unlocking shareholder value for mineral exploration, mining, industrial and heavy equipment companies," Dr. Nicolson continued.

Mr. McMillan has driven success in the capital markets for public companies across a diverse range of industries. With 25 companies he has packaged more than $3.1-billion in M&A (merger and acquisition) transactions, $2.6-billion in financings, and been recognized by numerous IR awards for advancing shareholder value. From 2019 to 2022, he was vice-president, investor relations, for Stantec, a global leader in sustainable engineering, architecture and environmental services during which time the company was recognized for best investor relations -- mid cap and best sustainability reporting by IR Impact Magazine.

Mr. McMillan holds a BSc from the University of British Columbia, an MBA from the University of Calgary, and has completed the executive program in mergers and acquisitions at the Wharton School of Business.

"On behalf of Amarc's management and board, I would like to welcome Tom to our team," said Amarc chair Bob Dickinson. "He has established a strong track record of creating shareholder value for public companies by clearly and consistently articulating their opportunities, and connecting them with the right relationships in the capital markets. His addition to the Amarc team aligns with the goals and advancing stage of Amarc and he will greatly assist us in capitalizing on the growth opportunities ahead for our company."

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.

At Joy, Freeport-McMoRan Mineral Properties Canada Inc., a wholly owned subsidiary of Freeport-McMoRan Inc. earned, under the mineral property earn-in agreement, an initial 60-per-cent interest in the Joy district by funding $35-million under an accelerated time frame (see Amarc releases May 12, 2021, and May 29, 2025). The Joy district is now being advanced through Aurora Minerals Ltd. (AML), a private joint venture corporation held 60 per cent by Freeport and 40 per cent by Amarc (see Sept. 4, 2025, release). Freeport has elected to earn a further 10-per-cent interest in the Joy district by funding an additional $75-million in staged expenditures. While Freeport is now the operator of Joy, Aurora Minerals Ltd., the joint venture company has appointed Amarc as the primary contractor to continue to manage the Joy exploration programs under a separate services agreement. In support of this momentum, Amarc executed on behalf of AML, an expanded exploration program exceeding $16-million plus in 2025, completing substantial drilling at Aurora and across multiple other deposit targets.

At Duke, Boliden Mineral Canada Ltd., an entity within the Boliden Group of Companies, continues its participation having sole financed $30-million of exploration expenditures though to the end of 2025. Boliden and Amarc have now entered a 60:40 joint venture (the Duke JV) under which the parties must finance exploration activities on a pro rata basis or dilute their interest in the Duke JV. Amarc is the operator at the Duke district.

Amarc owns a 100-per-cent interest in the Ike Cu-Au district in Southern B.C. Amarc completed self-financed drilling at its Empress Cu-Au deposit in the Ike district in 2024. Amarc is the operator at the Ike district.

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, Duke, Ike, Pine and Aurora. 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 all technical and scientific information related to the Joy project contained in this news release. Mr. Rebagliati is not independent of the company.

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