Amarc and Boliden Commence a $4 Million Exploration Program at the Duke District, B.c.
AMARC AND BOLIDEN COMMENCE A $4 MILLION EXPLORATION PROGRAM AT THE DUKE DISTRICT, B.C.
June 25, 2026, Vancouver, BC – Amarc Resources Ltd. (“Amarc” or the “Company”) (TSXV: AHR; OTCQB: AXREF; FSE:
AQ5) is pleased to announce it has commenced field surveys to firm up copper-gold (“Cu -Au”) deposit targets for
potential drill testing later in the season at the DUKE Copper-Gold District ("DUKE District" or "District") in central
British Columbia ("BC") . This $4 million , 2026 exploration program is fully funded by Boliden Mineral Canada Ltd.
(“Boliden”) as part of the Boliden 60%/Amarc 40% Joint Venture (the “DUKE JV” or “JV”) (see Amarc release April 2,
2026). Under the terms of the DUKE JV , Amarc has 180 days from April 30, 2026 to elect to contribute $2.66 million
in funding to the program to maintain its full 40% interest in the JV. Amarc is continuing as project operator.
"Amarc continues to advance the DUKE District in collaboration with Boliden through the systematic approach to
exploration that has been the hallmark of our team’s success over the years," said Diane Nicolson, President and CEO.
“The overall goal of the DUKE JV is to be a substantial party to the potential establishment of an importan t BC
porphyry copper-gold district, to further increase shareholder value from success in the JOY District with the
discovery of the high grade AuRORA Deposit which will play a key leading role in the development of the Toodoggone
copper-gold region. Such successes have long -term positive economic implications for the provincial and local
communities."
The 732 km 2 DUKE District is located 80 km northeast of Smithers within the Babine Region, a well mineralized
porphyry belt in BC, hosting the former Bell and Granisle Cu-Au mines that were operated by Noranda Mines, and
the advanced stage copper-gold Morrison deposit owned by a third party. Notable infrastructure is in place to service
the former mines and the forestry and mineral exploration industries, including an extensive network of forest roads
across the DUKE District.
To-date, the systematic and extensive DUKE District programs have both substantially expanded the DUKE Cu-Mo-
Au-Ag Deposit to an area measuring 900 x 600 metres which remains open to expansion , and also revealed the
potential for the development of a porphyry Cu-Au district while efficiently screening out less prospective areas (see
Amarc release July 2, 2025). Notably, the DUKE Deposit lies approximately 6 km to the southeast of American Eagle’s
promising NAK Cu-Au Deposit (see American Eagle website https://americaneaglegold.ca), along the southeast trending
regional NAK–DUKE magnetic corridor (see Amarc release April 2, 2026) . This corridor also hosts Amarc’s C6 and M 4
targets which are to the southeast of the DUKE Deposit.
In 2026, planned exploration activi ties include Induced Polarization (51 line-km) and Magnetotellurics (80 line -km)
ground geophysical, geochemical and geological surveys, combined with planned drill testing of deposit targets within
the extensive DUKE District.
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 BC. 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±Au Districts located in different prolific porphyry regions of
northern, central and southern BC, respectively. Each District represents significant potential for the development of
multiple and important-scale, porphyry Cu±Au deposits such as the important AuRORA Deposit Cu-Au discovery located
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within the JOY District . 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. ("Freeport"), a wholly owned subsidiary of Freeport -
McMoRan Inc. earned, under the Mineral Property Earn -In Agreement, an initial 60% interest in the JOY District by
funding CAD $35 million under an a ccelerated timeframe (see Amarc releases May 12, 2021 and May 29, 2025). The
District is now being advanced through AuRORA Minerals Ltd, (“AML”) a private joint venture corporation held 60% by
Freeport and 40% by Amarc (see September 4, 2025 release). Freeport has elected to earn a further 10% 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 CAD $16 million in 2025, completing substantial expansion
drilling at the AuRORA Deposit and across other discoveries and deposit targets.
At the DUKE District, Boliden Mineral Canada Ltd. (“Boliden”), an entity within the Boliden Group of companies,
continues its participation having sole funded CAD$30 M of exploration expenditures though to the end of 2025. Boliden
and Amarc have now entere d a 60:40 joint venture (the “DUKE JV”) under which the parties must fund 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% interest in the IKE Cu-Au and Cu-Mo District in southern BC. Amarc completed self-funded drilling
at its Empress Cu-Au Deposit in the IKE District in 2024. Amarc is the operator at the IKE District.
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, where the JOY District and the AuRORA Deposit are located, 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 BC'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, PINE, IKE, DUKE 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. We
pursue early and meaningful engageme nt to ensure our mineral exploration and development activities are well
coordinated and broadly supported, address local priorities and concerns, and optimize opportunities for collaboration.
In particular, we seek to establish mutually beneficial partner ships with Indigenous groups within whose traditional
territories our 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.
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Qualified Person
Mark Rebagliati, P.Eng, 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.
For further details on Amarc Resources Ltd., please visit our website at www.amarcresources.com or contact:
Diane Nicolson, President & CEO at +1 (778) 388 45603, Email: [email protected]
Tom McMillan, VP Investor Relations at +1 (604) 364-8386, Email: [email protected]
Kin Communications at +1 (604) 684-6730, Email: [email protected].
SUBSCRIBE to Amarc’s Communications
ON BEHALF OF THE BOARD OF DIRECTORS OF AMARC RESOURCES LTD.
Dr. Diane Nicolson
President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking and other Cautionary Information
This news release includes certain statements that may be deemed "forward-looking statements". All such statements, other than statements of historical
facts that address exploration plans and plans for enhanced relationships are forward-looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual
results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking
statements include the following: Amarc's projects will obtain all required environmental and other permits and all land use and other licenses, studies and
exploration of Amarc's projects will continue to be positive, and no geological or technical problems will occur. Factors that cou ld cause actual results to
differ materially from those in forward -looking statements include market prices, potential environmental issues or liabilities associated with exploration,
development and mining activities, exploitation and exploration successes, continuity of mineralization, uncertainties relate d to the ability to obtain
necessary permits, licenses and tenure and delays d ue to third party opposition, changes in and the effect of government policies regarding mining and
natural resource exploration and exploitation, exploration and development of properties located within Aboriginal groups ass erted territories may affect
or be perceived to affect asserted aboriginal rights and title, which may cause permitting delays or opposition by Aboriginal groups, continued availability of
capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from those projected in the forward -looking statements. For more information on
Amarc Resources Ltd., investors should review Amarc's annual Form 20-F filing with the United States Securities and Exchange Commission at www.sec.gov
and its home jurisdiction filings that are available at www.sedarplus.ca.