Amarc and Hudbay Partner to Advance the Ike Copper Porphyry District

AMARC AND HUDBAY PARTNER TO ADVANCE THE IKE COPPER PORPHYRY DISTRICT

July 6, 2017, Vancouver, BC – Amarc Resources Ltd. (“Amarc” or the “Company”) (TSX -V: AHR ; OTCBB:

AXREF) is pleased to announce it has entered into a Mineral Property Farm-In Agreement (the “Agreement”)

with Hudbay Minerals Inc. (“Hudbay”) (TSX: HBM; NYSE: HBM). Under the terms of the Agreement Hudbay

may acquire, through a staged investment process, up to a 60% ownershi p interest in Amarc’s 462 km2,

100%-owned IKE copper porphyry district (the “IKE Project” or the “Project”), located near Gold Bridge,

British Columbia (“BC”).

Robert Dickinson, Executive Chairman of Amarc : “We are pleased to welcome Hudbay, a company with a

solid reputation as an experienced and responsible operator of important mines located in North and South

America, to a project we believe will emerge as one of Canada’s most important new mineral developments.”

Diane Nicolson, President of Amarc : “Hunter Dickinson associated companies have a long history of

discovering and developing porphyry copper deposits in BC that have gone on to generate decades of wealth

and opportunity for stakeholders and shareholders alike. We are excited to be combining our proven

porphyry copper discovery skill set with Hudbay’s acknowledged capabilities as a first-class mine builder and

operator.”

Agreement with Hudbay on the IKE Project

Under the terms of the Agreement, Hudbay can earn an initial 49% ownership interest in the IKE Project

under a Stage 1 Farm -in Right by funding $25 million 1 of expenditures before December 31, 2020 , of which

$3.3 million is committed for 2017.

Provided its Stage 1 Farm-in Right is exercised, Hudbay can, pursuant to a Stage 2 Farm-in Right, elect to earn

an additional 1% interest in the Project (for a total 50% interest), by funding $15 million of expenditures (for a

total of $40 million), also before December 31, 2020.

Stage 1 and Stage 2 Farm -in expenditures can be accelerated by Hudbay at its discretion. Amarc will be the

operator during the Stage 1 and Stage 2 periods. A Joint Venture (“JV”) will be formed when Hudbay has

acquired a 49% interest in the Project.

Provided that Hudbay has exercised its Stage 2 Farm-in Right and acquired a 50% interest in the IKE Project, it

can then elect to go forward via one of two paths.

1 All currency values are Canadian dollars.

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First, Hudbay can replace Amarc as operator of the JV after it funds all project expenditures and completes a

Feasibility Study for the IKE Project by December 31, 2025 . Having gained operatorship, Hudbay can then

choose to either go forward with Amarc in a 50/50 participating JV, or can instead elect to continue with its

Farm-in (the “Stage 3 Farm-in Right”) to acquire an additional 10% interest in the IKE Project (for a total 60%

interest). To exercise its Stage 3 Farm -in Right , Hudbay must fund all expenditures required to submit a

British Columbia Environment Assessment (“EA”) application for the IKE Project and, if applicable, a Canadian

EA application, with the application(s) being accepted for review by December 31, 2026. In addition, Hudbay

must also continue to fund all project expenditures until the necessary EA Certificate(s) are received.

Following receipt of the EA Certificate(s), all IKE Project expenditures going forward will be shared by Hudbay

and Amarc on a pro rata basis (Hudbay 60%/Amarc 40%) under the JV.

As a second a lternative path Hudbay can elect, after exercising its Stage 2 Farm-in Right, to proceed directly

to the Stage 3 Farm-in Right, so immediately becoming the operator, and acquire a further 10% interest (for a

total 60% interest) by, as above, submitting and having accepted for review a British Columbia EA application

and, if applicable, a Canadian EA application, by December 31, 2026. Again in this instance, Hudbay must also

fund all project expenditures until receipt of the necessary EA Certificate(s). As with the first path , following

receipt of the EA Certificate(s) , all IKE Project expenditures going forward will be shared by Hudbay and

Amarc on a pro rata basis (Hudbay 60%/Amarc 40%) under the JV.

If Hudbay does not submit the EA application(s) by December 31, 2026 , then Amarc will become operator

again.

Hudbay has th e right to defer either of its 2019 or 2020 expenditures , for a one -year period, subject to

certain conditions. If this deferral occurs, Amarc will have a “co-expenditure right”, whereby it can incur and

fund approved additional expenditures on the IKE Project up to the amount of the deferred expenditures.

Hudbay may elect to reimburse A marc for these additional expenditures, thereby retaining its interest in the

Project.

About the IKE Project

The IKE Project is located 33 k ilometres northwest of the historical mining communities of Gold Bridge and

Bralorne in south-central BC, near the heartland of the province’s producing porphyry copper mines. There is

good industrial infrastructure in the region. Power, railways and highways are all available in the area of Gold

Bridge, and in the regional towns of Pemberton and Lillooet. Mainline logging roads leading northwest from

Gold Bridge extend to within 13 kilometres of the IKE property.

Over the last three years, Amarc has made a significant new porphyry copper -molybdenum-silver discovery

at IKE. Together with the surrounding district of important- scale, porphyry copper

(±molybdenum±silver±gold) targets yet to be drilled, Amarc believes the IKE Project has the potential to

possess the grades and tonnages to emerge as an important mining camp.

To date, Amarc has drilled more than 12,000 metres in 21 widely-spaced core holes in the IKE deposit,

intersecting copper, molybdenum and silver mineralization over an area measuring 1,200 metres by 1,000

metres and 875 me tres vertically. This drilling indicates the potential for extensive resource volumes which

remain open to expansion in all lateral directions and to depth.

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In addition, Amarc has completed 132 km2 of regional geological mapping, collected 1,258 talus fines samples

and co nducted 77 line-kilometres of Induced Polarization (“IP”) geophysical surveys over regional targets.

Results from these surveys have identified four significant porphyry copper mineralized systems , along with

three more newly emerging po rphyry copper and precious metal epithermal deposit targets – all within 10

kilometres of the IKE deposit. Age dating of porphyry mineralization discovered within the IKE district has

confirmed at least four separate porphyry mineralizing events, occurring over an exceptionally long period of

46 million y ears. Progressing northwards from the IKE deposit , these porphyry copper mineralized systems

become decidedly more gold-bearing.

Amarc is working with government , stakeholders and First Nations toward th e responsible development of

the IKE Project , and manages an ongoing program of community and regional outreach. These e fforts

include the provision of jobs, training programs, contract opportunities, capacity funding and sponsorship of

community events. The Company is also seeking to establish comprehensive partnership discussions with

local First Nations at the earliest stages of project development with the goal of establishing progressive

agreements.

Amarc proactively supports government’s duty to c onsult First Nations. After a rigorous review process, the

Company has received a five-year, area-based permit for IKE Project exploration activities . A 300-hole drill

permit and authorization for 250 kilometres of IP surveying provides regulatory certainty and operational

flexibility at site.

Amarc plans to mobilize crews to the field for its 2017 drilling season in July. Approved project expenditures

of $3.3 million include core drilling focused on evaluating the potential resource size and grade of a t least

three high priority porphyry copper (±molybdenum±silver ±gold) targets located in proximity to the IKE

discovery. Extensive surface exploration surveys, including IP, geological mapping and talus fine geochemical

sampling, will be completed regiona lly to firm up additional porphyry copper deposit targets for potential

drill testing next year.

About Amarc Resources Ltd.

Amarc is a mineral exploration and development c ompany with an experienced and successful management

team focused on developing a new generation of B C porphyry copper mines. With the successful

combination of strong projects and successful management , Amarc has created a solid platform to

commence the value creation life cycle of a mining exploration company.

Amarc is advancing its 100% owned IKE, DUKE and JOY porphyry copper deposit districts, located in southern,

central and northern BC, respectively, each with proximity to industrial infrastructure, power, rail and

highways. These pro jects represent significant potential for the discovery of important scale , porphyry

copper-gold and copper-molybdenum deposits.

Amarc’s DUKE deposit, and an adjacent 190 km 2 porphyry copper district is located 80 k ilometres northeast

of Smithers BC, and 30 kilometres north of former mines (Bell and Granisle) operated by Noranda Mines. The

DUKE Project area is logging road accessible from Smithers or Fort St. James.

Historically, DUKE has been explored with surface geochemical and geophysical surveys, as well as 30 shallow

diamond drill holes. Many of the holes drilled intersected significant lengths of porphyry copper -

molybdenum-silver-gold mineralization, which remains open both laterally and to depth. The surrounding

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district hosts multiple second order porphyry copper deposit targets. Plans are to drill the DUKE deposit

target in fall 2017.

Amarc’s 72 km2 JOY mineral property is located 310 k ilometres north of Mackenzie BC, and 25 kilometres

north of the Kemess South Mine site, where AuRico Resources’ recently secured a BC EA Certificate for its

Underground Project.

Past operators conducted prospecting -style work on the JOY claims . Some 3,000 soil samples, 8 00 rock

samples and 30 silt samples were collected, but no drilling w as done. The surface surveys clearly indicate a

number of substanti al porphyry copper -gold and epithermal silver -gold deposit targets across the JOY

property. The deposit targets located on the JOY property are considered by Amarc to be a northern

extension to the prolific Kemess porphyry gold -copper district. Most impo rtantly, historical soil and rock

sampling, along with a recent soil survey , has revealed a regionally significant 7 km 2 copper, gold,

molybdenum, silver and zinc geochemical anomaly, which potentially reflects a large and shallowly buried

porphyry copper-gold deposit.

The Company is planning to complete surface exploration surveys including IP and drill testing of this

exceptional target this season.

Amarc is associated with Hunter Dickinson Inc. (“HDI”), a diversified, global mining company with a 25 -plus

year history of porphyry discovery and development success. Previous and current HDI porphyry projects

include some of BC’s and the world’s most important mineral resources, such as Pebble, Mount Milligan,

Kemess South, Kemess North, Gibraltar, Prosperity, Xietongmen, Newtongmen, Florence, Sisson and Maggie.

From its head office in Vancouver, Canada, HDI applies its unique strengths and capabilities to acquire,

develop, operate and monetize mineral projects to provide superior returns to shareholders.

Amarc is committed to working collaboratively with governments and stakeholders to achieve responsible

development of its projects, while contributing to sustainable development of the communities in which it

works. All w ork programs are carefully plann ed to achieve high levels of environmental and social

performance.

Qualified Person as Defined Under National Instrument 43-101

Mark Rebagliati, P. Eng., a Qualified Person as defined under National Instrument 43 -101, has reviewed and

approved the technical content of this release.

For further details on Amarc Resources Ltd., please visit the Company’s website at www.amarcresources.com

or contact Dr. Diane Nicolson, President, at (604) 684-6365 or within North America at 1-800-667-2114.

ON BEHALF OF THE BOARD

Ronald W. Thiessen

Chief Executive Officer

Neither the TSX Venture Exchange nor any other regulatory authority accepts responsibility for the adequacy

or accuracy of this release.

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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 drilling, exploitation activities and othe r related events or

developments 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. The Company cannot guarantee that the Consolidated Loan and issuance of

securities c ontemplated by this release will complete. There is no certainty that the Company will be able to repay the

Consolidated Loan or any other outstanding debt or liability of the Company in a timely manner or at all. Factors that could

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 explorat ion

successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and tenure and

delays due to third party opposition, changes in and the effect of government policies regarding mining and natural resource

exploration and exploitation, ex ploration and development of properties located within Aboriginal groups asserted 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 the Company'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.sedar.com.