Amarc Appoints Chief Financial Officer
AMARC APPOINTS CHIEF FINANCIAL OFFICER
July 7, 2025, Vancouver, BC – Amarc Resources Ltd. (“Amarc” or the “Company”) (TSX -V: AHR; OTC QB: AXREF) is
pleased to announce that Carol Li has joined Amarc and, effective July 19, 2025, will be Chief Financial Officer
(“CFO”) of the Company. She will be transitioning into the role until that time.
Ms. Li is an experienced financial professional holding Chartered Professional Accountant (“CPA”) and CGA
designations with more than 30 years of international experience in the resources industry as well as financial
services and securities firms. She has served as a CFO and as a director of public companies within the resources
sector. Her background as a financial executive is extensive, and incorporates financial reporting, budgeting,
capital project management, systems implementation, internal controls, taxation and capital markets along with
mergers and acquisitions. In project financing, her expertise includes debt financing, royalty, streaming and equity
financing.
Dr. Diane Nicolson, President and CEO of Amarc said, “On behalf of the members of the Board, I am delighted to
welcome Carol to the Amarc team whose experience and capabilities will serve to strengthen the Amarc executive
team. We look forward to her input and participation based on an extensive background in financial management
and expertise in project financing as we continue to advance three high potential copper-gold districts in British
Columbia that continue to deliver discoveries.”
Ms. Li replaces Tom Wilson who is retiring from his role with the Company. “I would like to acknowledge and thank
Tom Wilson for his efforts as CFO over the past several years and wish him all the best in the future,” said Nicolson.
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. Import antly, each of the three districts
are located in proximity to industrial infrastructure – including power, highways and rail.
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 since 1990. Their experience and early recognition of the
porphyry potentia l 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.
Freeport-McMoRan Mineral Properties Canada Inc. ("Freeport"), a wholly owned subsidiary of Freeport -
McMoRan Inc. at JOY and Boliden Mineral Canada Ltd. ("Boliden"), an entity within the Boliden Group of
companies at DUKE, can earn up to a 70% interest in each District through staged investments of $110 million
and $90 million, respectively. Together this provides Amarc with potentially up to $200 million in non -share
dilutive staged funding for these Districts. In addition, Amarc completed self -funded drill ing at its higher -
grade Empress Deposit in the IKE District in 2024. Amarc is the operator of all programs.
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, S isson, Maggie, AuRORA,
PINE, IKE and DUKE. 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 engagem ent 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 partn erships
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 program s are carefully planned to achieve high levels of environmental and social
performance.
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 Company’s projects contained in this news
release. Mr. Rebagliati is not independent of the Company.
For further details on Amarc Resources Ltd., please visit the Company’s website at www.amarcresources.com or
contact Dr. Diane Nicolson, President and 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 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 ot her licenses, studies and exploration of Amarc's projects will
continue to be positive, and no geological or technical problems will occur. 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 exploration 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, exploration and development of properties located within Aboriginal
groups asserted territories may affect or be perceived to affect asserted aboriginal rights an d title, which may cause permitting delays or
opposition by Aboriginal groups, continued availability of capital and financing, and general economic, market or business co nditions.
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.