Dr. Diane Nicolson reports

AMARC APPOINTS CHIEF FINANCIAL OFFICER

Carol Li has joined Amarc Resources Ltd. and, effective July 19, 2025, will be chief financial officer 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 chartered general accountant (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 chief executive officer 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 Dr. 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 (copper-gold) mines in British Columbia. 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 copper-plus-or-minus-gold districts located in different prolific porphyry regions of Northern, central and Southern B.C., respectively. Each district represents significant potential for the development of multiple and important-scale, porphyry copper-plus-or-minus-gold deposits. Importantly, each of the three districts is 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 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 gold-rich Aurora porphyry Cu-Au-Ag (copper-gold-silver) deposit.

Freeport-McMoRan Mineral Properties Canada Inc., a wholly owned subsidiary of Freeport-McMoRan Inc., at Joy and Boliden Mineral Canada Ltd., an entity within the Boliden group of companies, at Duke, can earn up to a 70-per-cent 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 financing for these districts. In addition, Amarc completed self-financed drilling 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 copper deposit discovery, development and transaction success. Previous and current HDI projects include some of B.C.'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, 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. The company pursues early and meaningful engagement to ensure its mineral exploration and development activities are well co-ordinated and broadly supported, address local priorities and concerns, and optimize opportunities for collaboration. In particular, the company seeks to establish mutually beneficial partnerships with indigenous groups within whose traditional territories its projects are located, through the provision of jobs, training programs, contract opportunities, capacity financing agreements and sponsorship of community events. All Amarc work programs are carefully planned to achieve high levels of environmental and social performance.

Mark Rebagliati, PEng, 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.

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