Amarc Increases JOY District Budget to $20 Million for 2026 Exploration

Amarc Resources Ltd. has announced a $5 million increase in the 2026 exploration budget for the JOY Copper-Gold District, raising the total to $20 million. This project, located in British Columbia, is fully financed by Freeport-McMoRan Mineral Properties Canada Inc. through AuRORA Minerals Ltd, a joint venture where Freeport holds a 60% stake and Amarc a 40% stake.

The additional funding from Freeport is aimed at advancing the exploration program, particularly with the drilling operations focusing on the AuRORA Porphyry Gold-Copper-Silver Deposit and the TWINS Gold-Copper Discovery. These efforts come as part of Freeport's $75 million earn-in agreement for an additional 10% interest in the JOY District, targeting a 70% interest in total.

Following the 2026 program, Freeport will need to invest approximately $35.9 million more to fulfill its earn-in requirements. Amarc, as the primary contractor, continues to manage the exploration operations under a separate services agreement.