AMARC INTERSECTS 60 m GRADING 0.90% CuEQ1 AND CONFIRMS HIGH COPPER-GOLD TENOR IN HISTORICAL EMPRESS DRILLING, FURTHER ADVANCING ITS IKE DISTRICT IN BC Significant assays from nine core holes drilled in 2024 at the Empress Deposit include:
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AMARC INTERSECTS 60 m GRADING 0.90% CuEQ1 AND CONFIRMS HIGH COPPER-GOLD TENOR IN
HISTORICAL EMPRESS DRILLING, FURTHER ADVANCING ITS IKE DISTRICT IN BC
Significant assays from nine core holes drilled in 2024 at the Empress Deposit include:
• 181 m at 0.46% CuEQ1 (0.31 g/t Au, 0.29% Cu and 0.8 g/t Ag) from 30 m and 60 m at 0.90% CuEQ (0.60 g/t Au, 0.56%
Cu and 1.3 g/t Ag) from 123 m
• 68 m at 0.56% CuEQ (0.30 g/t Au, 0.38% Cu and 1.0 g/t Ag) from 123 m incl. 29 m at 0.73% CuEQ (0.46 g/t Au, 0.47%
Cu and 1.3 g/t Ag)
Significant assays from 2024 resampling of historical core at the Empress Deposit include:
• 99 m at 0.61% CuEQ (0.34 g/t Au, 0.41% Cu and 1.8 g/t Ag) from 22 m incl. 60 m at 0.74% CuEQ (0.37 g/t Au, 0.52%
Cu and 2.3 g/t Ag)
• 158 m at 0.69% CuEQ (0.47 g/t Au, 0.43% Cu and 1.0 g/t Ag) from 23 m and 47 m at 1.44% CuEQ (0.89 g/t Au, 0.93%
Cu and 1.8 g/t Ag) from 107 m
1 See notes to Tables 1 and 2.
May 14, 2025, Vancouver, BC – Amarc Resources Ltd. (“Amarc” or the “Company”) (TSX-V: AHR; OTCQB:
AXREF) is pleased to announce the results from its comprehensive, late 2024 exploration program at its
100% owned, 500 km 2 IKE Copper-Gold (“Cu-Au”) District, located in southern British Columbia (“BC”).
The program focused on the higher grade Cu -Au mineralization discovered by historical operators within
the Greater Empress Area which is a sizable subarea within the overall IKE District. The style and form of
mineralization at Empress is unique within the western Cordillera with the initial technical data suggesting
the centre of this robust mineralized Au -Cu system has not yet been defined. Greater Empress is located
6 km north of the Company’s substantial IKE porphyry copper-molybdenum-silver (“Cu-Mo-Ag”) discovery
(Figure 1, and November 6, 2018 release). The 2024 program successfully confirmed high potential for the
expansion of mineralization found historically at Empress and the discovery of additional higher grade
intrusion-related replacement and porphyry Cu±Au±Mo±Ag deposits. Management considers the IKE
District to be one of the prolifically mineralized belts in BC.
“At IKE, Amarc’s team is in the privileged position of focusing our exploration towards multiple, open-
ended historical deposits and targets with elevated copper and gold grades, in addition to multiple
porphyry copper ±gold±molydenum±silver and epithermal gold-silver deposit targets within the
Greater Empress Area and across the IKE District ,” said Dr. Diane Nicolson, Amarc President and
CEO.
“The hallmark of these mineral systems is their abundance as well as the size and strength of their
alteration and metal signatures, which collectively have the potential to establish the IKE District as
a premier mineral district. The 2024 program marked Amarc’s successful initial testing of the higher
grade Empress copper-gold potential along a 15 km+ highly prospective corridor within the IKE
District. Amarc is currently integrating this new data with extensive previous airborne, and
ground survey and drill information to plan further drilling programs to efficiently advance the
Greater Empress Area and the overall IKE District.”
Nicolson added, “In addition to IKE, Amarc is also effectively advancing the DUKE Cu-Au District (Babine
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Region) and JOY Cu-Au District ( Toodoggone Region) in BC . Notably, Amarc recently announced the
discovery of the exciting high grade, from surface AuRORA Cu -Au-Ag Deposit at JOY (January 17, 2025
release).”
The Significant Exploration Potential of the Greater Empress Area
The Greater Empress Area straddles the contact of the intrusive rocks of the Coast Plutonic Complex
(“CPC”) with older volcanic rocks to the north over a strike length of more than 15 km in the IKE District .
Strong and widespread alteration with abundant sulphides along this contact are associated with a variety
of deposit types, alteration assemblages, including Cu-Au-Ag replacement deposits such as Empress and
Empress East, porphyry Cu±Au±Mo±Ag occurrences and high sulphidation epithermal Au-Ag systems (see
2020 IKE Technical Report https://amarcresources.com/projects/ike-project/technical-report/).
Historical drilling encountered significant higher grade Cu-Au-Ag replacement-style mineralization at the
Empress Deposit hosted by altered volcanics, commonly occurring near the surface and predominantly
within 100 m vertically above the contact of the CPC intrusive rocks with the overlying volcanics (Figures
2, 3 and 4). More limited historical drilling at the Empress East Deposit Target, some 1.3 km to the east,
intercepted mineralization similar in both style and grade to the Empress Deposit.
Although the grades and extents of the mineralization encountered so far indicate high potential at Greater
Empress, the understanding of controls on the mineralization is advancing, and has confirmed the area
remains substantially underexplored.
Figure 1 - Location and Geology of the Greater Empress Area within the High Potential IKE Cu -Au
District
Amarc’s 2024 Greater Empress Area Exploration Program
Amarc’s exploration program focused on the Empress Deposit and Empress East Deposit Target within the
Greater Empress Area at which historical drilling had encountered higher grade Cu-Au mineralization. The
2024 work comprised two principle and supporting activities:
• the geological re -examination (4, 610.7 m in 27 drill holes) and resampling for analyses (1, 541
samples from 23 holes) of historical drill core; and
• selected diamond drill testing on broad centres in nine (1,873 m) new core holes of targets within
the Empress Deposit and Empress East Deposit Target to determine the strength, continuity and
form of the historically identified strong Cu-Au mineralization (Figures 2 and 3).
Figure 2 - Empress Deposit and Empress East Deposit Target: Plan of Historical and Amarc 2024
Drill Holes
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Re-Assaying and Geological Re -Logging of Historical Core Holes at the Empress Deposit and Empress
East Deposit T arget, and other T argets Within the Greater Empress Area
Key results of this re-assaying and re-logging program include:
• Approximately 29% of all available drill core was re-assayed with a majority of the historical assays
showing strong positive correlations with the 2024 re -assay data, indicating that the historical
database may be meaningfully integrated into future modelling and resource estimation ;
• Re-logging revealed a style and form of mineralization characterized by: (i) stacked significant
grade Cu -Au, magnetite-silica replacement bodies within the volcanics; and (ii) thick, well
mineralized porphyry-style Cu-Au-Mo intrusive-hosted zones; and
• A new appreciation of the importance of structural controls on the development of higher -grade
mineralized zones in the Empress replacement magnetite -silica bodies which provides a
significant opportunity to build resources.
Table 1 presents the results from Amarc’s re -assaying of historical core holes. T he location of
historical drill holes and those that were re -assayed, is shown in Figure 2. Additional information on
the comparability of historical assays to the 2024 re -assays is provided below in the Quality
Control/Quality Assurance section of this release.
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Table 1: Results from Greater Empress Historical Drill Core Re -Assay Program5
Deposit/Target Section Drill
Hole Incl. From
(m)
To
(m)
Int.1,2,3
(m)
CuEQ4
(%)
Au
(g/t)
Cu
(%)
Ag
(g/t)
Empress 89-1
79.86 108.51 28.65 0.17 0.13 0.09 0.2
89-2 21.64 120.70 99.06 0.61 0.34 0.41 1.8
Incl. 21.64 53.95 32.31 0.48 0.34 0.28 1.2
Incl. 60.66 120.70 60.04 0.74 0.37 0.52 2.3
and 60.66 78.94 18.28 1.17 0.61 0.81 3.4
B-B’ 89-7 19.81 36.88 17.07 0.28 0.15 0.19 0.7
C-C’ 89-106 88.70 144.50 55.80 0.45 0.32 0.26 1.3
Incl. 88.70 118.90 30.20 0.69 0.52 0.39 2.1
89-127 22.56 45.72 23.16 0.42 0.26 0.27 1.1
88.70 101.50 12.80 0.37 0.24 0.23 1.0
105.46 108.51 3.05 0.64 0.41 0.40 1.3
148.44 217.63 69.19 0.79 0.37 0.57 2.2
Incl. 163.68 174.04 10.36 2.13 1.05 1.50 6.1
B-B’ 90-178 105.77 113.39 7.62 0.61 0.35 0.40 1.7
140.82 198.73 57.91 1.37 0.96 0.82 2.7
210.92 218.85 7.93 0.82 0.52 0.51 2.2
90-18 22.56 180.14 157.58 0.69 0.47 0.43 1.0
Incl. 47.85 74.37 26.52 0.89 0.71 0.49 1.5
and 47.85 62.48 14.63 1.06 0.95 0.52 1.3
Incl. 106.98 180.14 73.16 1.01 0.62 0.66 1.3
and 106.98 154.23 47.25 1.44 0.89 0.93 1.8
90-21 10.36 23.47 13.11 0.46 0.34 0.26 0.8
200.25 209.40 9.15 0.83 0.97 0.28 1.5
90-22 143.87 188.37 44.5 2.00 1.42 1.18 4.6
90-24 96.32 182.27 85.95 0.33 0.22 0.20 0.7
Incl. 159.11 182.27 23.16 0.85 0.56 0.53 1.8
and 168.86 182.27 13.41 1.27 0.82 0.79 2.7
90-28 40.23 102.72 62.49 0.33 0.25 0.18 1.2
Incl. 90.53 102.72 12.19 0.77 0.59 0.43 2.8
90-29 96.01 111.86 15.85 0.62 0.30 0.45 1.3
141.12 214.58 73.46 0.62 0.37 0.41 1.0
Incl. 154.53 197.21 42.68 0.85 0.52 0.56 1.3
and 177.70 197.21 19.51 1.34 0.87 0.85 2.0
90-30 11.89 103.63 91.74 0.25 0.14 0.17 0.7
Incl. 11.89 31.70 19.81 0.40 0.29 0.23 0.9
146.00 223.42 77.42 0.73 0.48 0.45 1.2
Incl. 164.59 208.48 43.89 1.14 0.77 0.70 1.9
90-31 170.08 192.33 22.25 0.43 0.19 0.32 1.0
90-32 121.92 152.10 30.18 0.41 0.24 0.27 1.2
91-36 3.35 8.08 4.73 0.33 0.20 0.21 1.0
25.91 66.75 40.84 0.29 0.19 0.18 0.6
116.13 134.42 18.29 0.32 0.18 0.21 0.5
91-48 71.32 189.89 118.57 0.31 0.16 0.22 0.8
Incl. 156.97 184.10 27.13 0.47 0.16 0.37 1.1
Empress East
91-39 13.72 37.80 24.08 0.67 0.53 0.36 1.8
103.33 147.52 44.19 0.44 0.27 0.28 1.0
177.39 205.44 28.05 0.26 0.16 0.17 0.8
91-54 74.98
85.04 10.06 0.36 0.20 0.25 1.0
108.20 158.19 49.99 0.53 0.26 0.38 1.3
Incl. 126.80 158.19 31.39 0.65 0.30 0.47 1.4
and 126.80 133.81 7.01 1.11 0.70 0.70 2.4
91-55 6.10 60.66 54.56 0.22 0.09 0.16 1.1
Incl.
51.51 60.66 9.15 0.45 0.13 0.36 2.4
Empress Gap 91-41 69.80 153.31 83.51 0.21 0.09 0.16 0.7
Granite Porphyry
Target
91-49 188.98 291.08 102.10 0.26 0.17 0.15 0.3
See Table 2 for Notes and Table 3 for drill hole information .
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2024 Drilling at the Empress Deposit and Empress East Deposit T arget
Amarc drilled nine holes in the Greater Empress Area to confirm the strength, continuity and form of the
historically identified well Cu -Au mineralized intersections at the Empress Deposit and Empress East
Deposit Target. Six of the eight drill holes collared at the Empress Deposit intercepted significant Cu-Au
mineralized zones (Figures 2 and 4). A single drill hole collared at Empress East also intercepted significant
Cu-Au mineralization. Drill results are presented in Table 2 and discussed in detail below on a section-by-
section basis from west to east.
Figure 3 - Historical Drilling at Empress Deposit and Empress East Deposit Target: Lateral Higher
Grade Cu-Au Drill Intercepts Indicate Significant Expansion Potential (Section A -A')
Figure 4 - Empress Deposit and Empress East Deposit Target: Cu -Au Grade Continuity, Lateral
Extent, Open to Expansion (Section B -B' , C-C' , D-D' , and E-E')
2 Detailed comparisons and correlation analyses of the historical and 2024 re -assay results provide a high level of confidence for
the use of the historical assay results in the ongoing exploration of the Greater Empress Area (Further details in QAQC below). The
drill sections show 2024 holes and results and historical holes and results. Results from 2024 re-assay are discussed below.
Empress Deposit - Figure 4 Section B-B’
This section shows significant Cu-Au mineralization over some 450 m south to north. The
mineralization is open to expansion to the west and northwest and it extends to and is continuous
with that in higher grade intersections to the east.
Hole EM24074 (vertical hole) intercepted 180.5 m at 0.46% CuEQ (0.31 g/t Au, 0.29% Cu and 0.8 g/t Ag)
from 30.0 m, including 138.5 m at 0.55% CuEQ (0.37 g/t Au, 0.34% Cu and 0.9 g/t Ag), 78.0 m at 0.78%
CuEQ (0.54 g/t Au, 0.47% Cu and 1.1 g/t Ag) and 60.0 m at 0.90% CuEQ (0.60 g/t Au, 0.56% Cu and 1.3
g/t Ag). Hole EM24076 (a shallower dipping drill hole collared at the same location), intercepted 29.4 m at
0.50% CuEQ (0.32 g/t Au, 0.32% Cu and 0.8 g/t Ag) from 162.4 m . Hole EM24075 stepped out
approximately 50 m to the north of historical hole 90-17 and intercepted 68.3 m at 0.56% CuEQ (0.30 g/t
Au, 0.38% Cu and 1.0 g/t Ag) from 123.0 m, including 29.0 m at 0.73% CuEQ (0.46 g/t Au, 0.47% Cu and
1.3 g/t Ag). Re-assayed historical drill hole 90-17 returned 57.9 m at 1.37% CuEQ (0.96 g/t Au, 0.82% Cu
and 2.7 g/t Ag) from 140.8 m.
Notably, re-assayed historical hole 90-24 drilled approximately 25 m to the west of EM24075 intercepted
86.0 m at 0.33% CuEQ (0.22 g/t Au, 0.20% Cu and 0.70 g/t Ag) from 96 .3 m, including 23.2 m at 0.85%
CuEQ (0.56 g/t Au, 0.53% Cu and 1.7 g.t Ag) and 13.4 m at 1.27% CuEQ (0.82 g/t Au, 0.79% Cu and 2.7
g/t Ag). In addition, re-assayed historical hole 90-18 collared 79 m southwest of EM24074 returned 157.6
m at 0.69% CuEQ (0.47 g/t Au, 0.43% Cu and 1.0 g/t Ag) from 22.6 m, including 26.5 m at 0.89% CuEQ
(0.71 g/t Au, 0.49% Cu and 1.5 Ag), including 73.2 m at 1.01% CuEQ (0.62 g/t Au , 0.66% Cu and 1.3 g/t
Ag) and 47.3 m at 1.44% CuEQ (0.89 g/t Au, 0.93% Cu and 1.8 g/t Ag). The mineralization in the 2024 drill
holes and re-assayed holes 90-22, 90-24, 90-32, 90-36 is open to expansion to west and northwest.
In addition, two re-assayed historical holes drilled approximately 30 m to east of this section returned
significant results. Hole 89-12 intercepted 69.1 m at 0.79% CuEQ (0.37 g/t Au, 0.57% Cu and 2.2 g/t Ag)
from 148.4 m, including 10.4 m at 2.13% CuEQ (1.05 g/t Au, 1.50% Cu and 6.1 g/t Ag) , and hole 90 -30
intercepted 77.4 m at 0.73% CuEQ (0.48 g/t Au, 0.45% Cu and 1.2 g/t Ag) from 146 m , including 43.9 m
at 1.14% CuEQ (0.77 g/t Au, 0.70% Cu and 1.9 g/t Ag).
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Empress Deposit - Figure 4 Section C-C’
This section shows mineralization with higher grades occurs in both the Amarc 2024 and the re -
assayed historical holes, and continues to the east and north. The Deposit also remains open to
expansion.
Hole EM24078 intercepted 32.0 m at 0.83% CuEQ (0.70 g/t Au, 0.43% Cu and 2.7 g/t Ag) from 72.0 m,
and 72.0 m at 0.40% CuEQ (0.20 g/t Au, 0.28% Cu and 0.8 g/t Ag) from 130.0 m, including 33.9 m at 0.58%
CuEQ (0.28 g/t Au, 0.41% Cu and 0.9 g/t Ag). Hole EM24080, a vertical hole collared from the same set
up, intercepted 41.0 m at 0.52% CuEQ (0.36 g/t Au, 0.31% Cu and 1.3 g/t Ag) from 99.0 m. Historical hole
89-10 that was re -assayed is an angle hole, collared some 55 m to the north of EM24078 and EM24080,
and intercepted 55.8 m at 0.45% CuEQ (0.32 g/t Au, 0.26% Cu and 1.3 g/t Ag) from 88.7 m, including 30.2
m at 0.69% CuEQ (0.52 g/t Au, 0.39% Cu and 2.1 g/t Ag).
In addition, historical re -assayed hole 90 -29, located 60 m north -northwest of historical hole 89 -10,
returned 15.9 m at 0.62% CuEQ (0.3 0 g/t Au, 0.45% Cu and 1.3 g/t Ag) from 96.0 m, 73.5 m at 0.62%
CuEQ (0.37 g/t Au, 0.41% Cu and 1.0 g/t Ag) from 141.1 m, including 42.7 m at 0.85% CuEQ (0.52 g/t Au,
0.56% Cu and 1.3 g/t Ag) and 19.5 m at 1.34% CuEQ (0.87 g/t Au, 0.85% Cu and 2.0 g/t Ag).
Empress Deposit - Figure 4 Section D-D’
On this section Hole EM24079 intercepted 90.0 m at 0.20% CuEQ (0.09 g/t Au, 0.15% Cu and 0.6 g/t Ag)
from 90.0 m, with mineralization remaining open to the east towards the Empress Gap target (Figures 2
and 3).
Empress East Deposit Target – Figure 4 Section E-E’
This section shows that the Empress East Deposit Target remains open to expansion in several
directions.
Hole EM24082, located approximately 1,300 m to the east of the Empress Deposit, intercepted 33.0 m at
0.67% CuEQ (0.22 g/t Au, 0.53% Cu and 3.4 g/t Ag) from 162 m. Notably, alteration intensity and Cu-Au
grades are increasing in strength to depth and southward towards the CPC contact with a largely
untested highly prospective block of ground to the south of this hole.
In addition, re-assayed historical hole 91-39 drilled approximately 60 m to the north intercepted 24.1 m at
0.67% CuEQ (0.53 g/t Au, 0.36% Cu and 1.8 g/t Ag) from 13.7 m.
Empress Gap: Limited historical drilling, mainly short <60 m deep percussion holes across the
approximately 1 km Empress Gap zone located between the Empress Deposit and Empress East Deposit
Target, suggests there are clear opportunities to expand the Empress Deposit and Empress East Deposit
Target across the Empress Gap Target (Figures 2 and 3). Due to poor weather conditions in November 2024,
the Gap was not drill tested; however, a single historical core hole 91-41 drilled in the Gap was re-assayed
in 2024 and returned an encouraging intercept of 83.5 m at 0.21% CuEQ (0.09 g/t Au, 0.16% Cu and 0.7 g/t
Ag) from 69.8 m. The Empress Gap requires comprehensive drilling.
Granite Porphyry: The nearby Granite porphyry Cu±Au±Ag±Mo occurrence, a deposit target concealed by
shallow overburden was recognized during Amarc’s 2024 geological examination of historical drill core
(Figure 1 and Table 1) . This newly identified deposit target is considered a possible source of the
mineralizing replacement fluids for Empress. Re-assaying of historical drill hole 91-49 returned 102.1 m of
0.26% CuEQ (0.17 g/t Au, 0.15% Cu and 0.3 g/t Ag) from 189 m. The Granite Deposit Target requires drill
delineation.
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Table 2: Assay Results from Amarc’s 2024 Drill Program at Greater Empress
Deposit
Section Drill
Hole Incl. From
(m)
To
(m)
Int.1,2,3
(m)
CuEQ4
(%)
Au
(g/t)
Cu
(%)
Ag
(g/t)
Empress B-B’ EM24074 6.00 24.00 18.00 0.23 0.14 0.15 0.6
30.00 210.50 180.50 0.46 0.31 0.29 0.8
Incl. 72.00 210.50 138.50 0.55 0.37 0.34 0.9
and 111.00 189.00 78.00 0.78 0.54 0.47 1.1
and 123.00 183.00 60.00 0.90 0.60 0.56 1.3
B-B’ EM24075 123.00 191.28 68.28 0.56 0.30 0.38 1.0
Incl. 153.00 182.00 29.00 0.73 0.46 0.47 1.3
B-B’ EM24076 5.60 19.90 14.30 0.22 0.13 0.14 0.4
41.00 95.00 54.00 0.19 0.10 0.14 0.5
132.00 150.00 18.00 0.31 0.18 0.21 0.4
162.42 191.85 29.43 0.50 0.32 0.32 0.8
B-B’ EM24077 146.50 150.00 3.50 0.37 0.26 0.22 1.1
C-C’ EM24078 72.00 104.00 32.00 0.83 0.70 0.43 2.7
130.00 202.00 72.00 0.40 0.20 0.28 0.8
Incl. 143.75 177.68 33.93 0.58 0.28 0.41 0.9
D-D’ EM24079 90.00 180.00 90.00 0.20 0.09 0.15 0.6
C-C’ EM24080 3.00 17.00 14.00 0.37 0.21 0.25 1.0
65.00 69.00 4.00 0.49 0.46 0.22 1.7
99.00 186.00 87.00 0.36 0.22 0.23 1.0
Incl. 99.00 140.00 41.00 0.52 0.36 0.31 1.3
Incl. 162.75 186.00 23.25 0.27 0.11 0.20 0.8
C-C’ EM24081 No Significant Results
Empress
East
E-E’ EM24082 42.70 54.00 11.30 0.53 0.46 0.27 1.3
86.00 93.00 7.00 0.30 0.07 0.25 0.9
111.00 195.00 84.00 0.46 0.20 0.34 1.8
Incl. 162.00 195.00 33.00 0.67 0.22 0.53 3.4
Footnotes to Tables 1 and 2
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 prices of: Cu US$4.00/lb, Au US$1800/oz., and Ag US$24/oz. and
conceptual recoveries of: Cu 90%, Au 72% and 67% Ag. Conversion of metals to an equivalent copper grade based
on these metal prices is relative to the c opper 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. Note that Table 1 includes results from re-assayed data, whereas Table 2 presents assays from the 2024 drilling.
6. Drill hole 89-10 interval 121.9 - 128.3 m was compromised within broken ground, whereby no core was recovered
and therefore averaged at ‘zero’ grade.
7. Drill hole 89-12 interval 156.36 - 156.97 m was compromised within broken ground, whereby no core was recovered
and therefore averaged at ‘zero’ grade.
8. Drill hole 90-17 intervals 175.26 – 175.87 m and 176.17 – 193.24 m were compromised within broken ground,
whereby no core was recovered and therefore averaged at ‘zero’ grade.
9. Drill hole 91-47 drilled at Empress West had weakly anomalous concentrations of copper.
10. See Table 3 for drill hole information.
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.
-8-
Amarc is advancing its 100% -owned JOY, DUKE and IKE 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. Importantly,
each of the three districts is located in proximity to industrial infrastructure – including power, highways
and rail.
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 e ach 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. Amarc has
completed an initial self -funded dr illing program at its higher grade Empress Deposit in the IKE
District.
Amarc is associated with HDI, a diversified, global mining company with a 35 -year history of porphyry Cu
deposit discovery and development 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,
IKE, PINE, 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 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
partnerships 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.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Mark
Rebagliati, P.Eng., a Qualified Person who is not independent of Amarc.
Quality Assurance & Quality Control (“QAQC”)
Amarc drilled nine core holes (1,873 m) at the IKE Project in 2024. In addition, the Company re-sampled
and re-assayed 23 historical drill holes (4,393 m for 1,541 samples).
Sample Preparation & Methodology
The 2024 Amarc core was logged, photographed and cut in half with a diamond saw. The resampled
historical core was relogged, photographed and sampled using a variety of methods outlined below. The
intent of the historical drill core re-sampling program was twofold: 1. to validate the historical Aqua Regia
digestion method for Cu, Ag, and Mo; and 2. to assess the reliability of the historical Au fire assay results.
Assay data for approximately 5,643 samples from short percussion and core holes drilled in the Greater
Empress Area (i.e. Empress Deposit, and the Empress East, Empress Gap and Empress West Deposit
Targets) are available. Gold assays are partially absent from the historical database (i.e. partially absent for