Amarc Announces More Drill Results From Aurora and Three Emerging Copper-Gold Systems, in Collaboration With Freeport at the Joy District

Highlights from additional AuRORA Deposit Discovery Drill Holes Include:

• 132.00 m of 1.71% CuEQ^* with 1.87 g/t Au, 0.63% Cu and 5.2 g/t Ag including
  90.00 m 0f 2.26% CuEQ with 2.53 g/t Au, 0.81% Cu and 6.5 g/t Ag

• 204.00 m of 0.72% CuEQ with 0.74 g/t Au, 0.28% Cu and 3.9 g/t Ag including
  50.85 m of 1.41% CuEQ with 1.51 g/t Au, 0.53% Cu and 6.5 g/t Ag
  ^* See notes to Table 1.

VANCOUVER, BC / ACCESS Newswire / February 28, 2025 / Amarc Resources Ltd. ("Amarc" or the "Company") (TSXV:AHR)(OTCQB:AXREF) is pleased to announce the remaining assays from the 2024 discovery drilling at its new, high grade, gold-rich porphyry copper-gold-silver ("Cu-Au-Ag") AuRORA Deposit, and those from other porphyry Cu systems in the JOY District. Drilling in 2024 resulted in another new porphyry Cu-Au-Ag discovery at the Twins Target on the PINE Trend. Both the AuRORA and Twins discoveries are located on the Company's 100% owned, 495 km² JOY Cu-Au District ("JOY") in the prolific Toodoggone-Kemess porphyry region of north-central British Columbia ("BC"). Amarc is the first company to drill test both the Northwest Gossan ("NWG") Target that hosts the AuRORA Deposit and the Twins Target (Figure 1, and Amarc releases January 17 and 20, 2025, March 2, 2023 and March 7, 2022). Freeport-McMoRan Mineral Properties Canada Inc. ("Freeport") is fully funding work programs at JOY to earn an interest in the project. Amarc is the operator of all programs.

The AURORA Deposit

Collectively, the 20 initial AuRORA holes have advanced Amarc's objective to drill systematic step outs to outline an outstanding Cu-Au-Ag deposit. The Company was unable to complete additional drilling along the four sections described in this release due to the required demobilization when the camp housing the Amarc crew closed for the season.

"Today's results continue to build on previously announced holes from the high grade, near-surface AuRORA porphyry Cu-Au-Ag discovery. AuRORA is characterized by its significant vertical and lateral continuity," said Dr. Diane Nicolson, Amarc President and CEO. "A total of 20 initial drill holes were completed with three core rigs at the end of the last season at AuRORA, and all results from these holes have now been announced. Importantly, the deposit remains open to further expansion. The grade range encountered so far at AuRORA is higher than that mined historically by Northgate Mineral Corp. at the Kemess South deposit (218 Mt at 0.63 g/t Au and 0.21% Cu¹), which forms part of the Kemess Mining District located immediately to the south of the JOY mineral claims. Centerra Gold Inc., which owns and is currently advancing the Kemess District, has reported gold and copper resources for the Kemess Underground and Kemess East deposits². Members of the Amarc team were the first to recognize the porphyry potential of the Kemess area within the Toodoggone, and discovered and transacted the Kemess South Deposit. Additionally, members of the Amarc team have collectively worked on all nine known porphyry deposits in the Toodoggone-Kemess region, providing an unparalleled local knowledge advantage."

This release reports assay data from an additional seven AuRORA deposit holes drilled along four east-west sections: Section 8000N, located 100 m to the north of Section 7900N, and sections 7700N, 7600N and 7500N located 100 m, 200 m and 300 m, respectively, south of Section 7800N - the discovery section (Figures 2 and 3, and Tables 1, 5 and 6). Assay data from 13 holes located on Sections 7800N and 7900N were reported in Amarc releases on January 17 and January 20, 2025.

Drillhole JP24080 on section 7700N at AuRORA returned 132 m of 1.71% CuEQ with 1.87 g/t Au, 0.63% Cu and 5.2 g/t Ag from 137 m, including 90 m of 2.26% CuEQ with 2.53 g/t Au, 0.81% Cu and 6.5 g/t Ag from 167 m, and 24 m of 4.17% CuEQ with 4.95 g/t Au, 1.35% Cu and 10.8 g/t Ag from 215 m (Table 1, and Table 5 which provides sample by sample results in holes JP24080 and JP24083 to show the continuity of the grades within these holes). Additionally, drillhole JP24017 crosses this section and intersected 108 m with 1.96% CuEQ at 2.38 g/t Au, 0.60% Cu and 5.17 g/t Agfrom 104 m within a longer interval extending from near surface, as previously reported (see Amarc January 17, 2025 release). Mineralization remains open to expansion east-west along the section (Figures 2 and 3). This section stepped out 100 m to the south of Section 7800N where previously reported drillhole JP24059 returned an outstanding 171 m with 1.09% CuEQ at 1.32 g/t Au, 0.34% Cu, 2.6 g/t Ag from 24 m and JP24074 returned 162 m with 1.90% CuEQ at 2.19 g/t Au, 0.63% Cu, 7.0 g/t Ag from 69 m (see Amarc release January 17, 2025).

Table 1: AuRORA Porphyry Cu-Au-Ag Deposit Discovery Drill Hole Assay Data
from Sections 8000N, 7900N, 7700N, 7600N and 7500N

Notes to Table 1:

1. Widths reported are drill widths, such that true thicknesses are unknown.

2. All assay intervals represent length-weighted averages.

3. Some figures may not sum exactly due to rounding.

4. Copper equivalent (CuEQ) calculations use metal process prices of: Cu US$4.00/lb, Au US$1800/oz., and Ag US$24/oz. and conceptual recoveries of: Cu 85%, Au 72% and 67% Ag. Conversion of metals to an equivalent copper grade based on these metal prices is relative to the copper price per unit mass factored by conceptual recoveries for those metals normalized to the conceptualized copper recovery. The metal equivalencies for each metal are added to the copper grade. The general formula for this is: CuEQ% = Cu% + ((Au g/t * (Au recovery / Cu recovery) * (Au $ per oz./31.1034768 / Cu $ per lb. * 22.04623)) + ((Ag g/t * (Ag recovery / Cu recovery) * (Ag $ per oz./ 31.1034768 / Cu $ per lb. * 22.04623)).

5. Drill hole JP24084 interval 201-207 m comprised broken ground, no core was recovered, and it was therefore averaged at zero grade.

Drillhole JP24083, on section 8000N, intersected 51 m of 1.41% CuEQ with 1.51 g/t Au, 0.53% Cu and 6.5 g/t Ag from 157 m, including 18 m of 1.81% CuEQ with 2.05 g/t Au, 0.62% Cu and 6.8 g/t Ag over 18.00 m, within 204 m of 0.72% CuEQ with 0.74 g/t Au, 0.28% Cu and 3.9 g/t Ag from 74 m (Tables 1 and 5). Mineralization also remains open to expansion east-west, north of JP24063, JP24073 and JP24077, along this section (Figures 2 and 3). This section stepped out 100 m to the north from Section 7900N, where previously reported drillhole JP24060 returned an outstanding 130 m with 1.98% CuEQ at 2.40 g/t Au, 0.61% Cu, 5.3 g/t Ag from 74 m (see Amarc release January 20, 2025).

Figure 1: Large Scale Mineral System Trends Occur at JOY that Host the AuRORA Discovery, PINE Deposit, Canyon Discovery, Twins and Other Sulphide Systems

Figure 2: AuRORA Deposit: High Grade, Near Surface, Exceptional Continuity, Open to Expansion - More to Come

Figure 3: AuRORA Deposit: High Grade, Near Surface, Cu-Au-Ag Mineralization, Open to Expansion (Sections 8000N, 7700N, 7600N and 7500N)

In addition to the 20 holes completed at the AuRORA discovery, five initial scout drill holes were completed elsewhere within the 3.7 km² NWG Target, as defined by Induced Polarization ("IP") chargeability geophysics (Figure 1 and Tables 4 and 6). The location of these scout drill holes was based on 2023 exploration survey data, and information from this drilling is currently being assessed in conjunction with the AuRORA discovery drill hole data and results from expanded surface geochemical sampling completed at NWG in 2024.

Other JOY District Drilling Successes

"Twins represents Amarc's third discovery in four years of a new copper-gold porphyry system at the JOY District. The AuRORA, Twins and Canyon (see Amarc release March 2, 2023) discoveries are all hosted in Lower Toodoggone formation rocks," added Dr. Nicolson. "In light of new scientific information gleaned from the AuRORA discovery, the Twins and Canyon discoveries, PINE Deposit and several other large-scale sulphide systems and targets across the JOY District are being further assessed and will require additional drilling. We believe outstanding potential is emerging within the JOY District, offering the opportunity for the potential development of a world class district like the Golden Triangle. Planning for the 2025 season is underway in collaboration with Freeport."

Amarc and Freeport have also established nine other sulphide systems at JOY, mainly located approximately 15 km to the southeast of the AuRORA discovery (Figure 1). These systems occur along trends similar to those found in some of the world's major porphyry Cu districts (see Amarc release January 20, 2025). Drilling to date in three of these sulphide systems, the Twins, PINE and Canyon, have intersected porphyry Cu-Au mineralization.

Twins Target Cu-Au Discovery

The highly prospective Twins porphyry target sulphide system is defined by a 7 km² IP chargeability geophysics anomaly (Figure 1). The large footprint of this target, its veneer of glacial overburden cover, and the Cu-Au intercepts in previous initial, very widely spaced and relatively shallow reconnaissance drill holes completed by Amarc, highlighted the significant exploration potential for the discovery of another porphyry Cu-Au deposit (see Amarc release March 2, 2023).

One of the early scout holes JP22020, tested a magnetic high within the chargeability anomaly and intersected a broad 204 m geochemically anomalous interval with 136 ppb Au and 340 ppm Cu from 12 m, and was considered to be in proximity to a porphyry Cu-Au deposit. In 2024, follow up hole JP24051 was set back 187 m to the northeast and drilled on the same section but below JP22020: it returned intercepts of 96 m of 0.25% CuEQ with 0.27 g/t Au, 0.09% Cu and 0.5 g/t Ag from 345 m, and 124 m of 0.33% CuEQ with 0.35 g/t Au, 0.13% Cu and 0.6 g/t Ag from 491 m (Figure 4 and Tables 2, 4 and 6). Additional drilling is required to determine the extent and nature of this discovery and to further explore the extensive, high potential Twins Target.

Figure 4: Twins Drilling Makes Amarc's Third Porphyry Cu-Au Discovery in the Emerging JOY District - Au-Cu Mineralization Wide Open to Expansion

Table 2: Significant intersections at the Twins Target Discovery Drill Hole JP24051