Amarc Announces Loan Extension

AMARC ANNOUNCES LOAN EXTENSION

December 20, 2024, Vancouver, BC – Amarc Resources Ltd. (“Amarc” or the “Company”) (TSX -V: AHR; OTCQB:

AXREF) announces that that it has entered into Third Loan Amendment Agreement dated November 25, 2024 (the

“Amendment Agreement”) with a lender who is a director and significant shareholder of the Company. Pursuant

to the Amendment Agreement, the repayment date of the $1,000,000 loan (the “Loan”) thereunder was extended

from November 26, 2024 to November 26, 2025. The other terms of the Loan remain unchanged.

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 its 100% -owned JOY, DUKE and IKE porphyry Cu±Au districts located in different prolific

porphyry regions of southern, central and northern BC, respectively. Each district represents significant potential

for the development of multiple a nd important-scale, porphyry Cu±Au deposits. Importantly, each of the three

districts is located in proximity to industrial infrastructure – including power, highways and rail.

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

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

ON BEHALF OF THE BOARD of Directors of Amarc Resources Ltd.

Dr. Diane Nicolson

President and Chief Executive Officer

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.