Dr. Diane Nicolson reports

AMARC CLOSES FULLY SUBSCRIBED CAD$20 MILLION PRIVATE PLACEMENT FINANCING

Amarc Resources Ltd. has closed its previously announced private placement. The company issued, on a private placement basis, 20 million common shares of the company at a price of $1.00 per share for aggregate gross proceeds of $20-million. The gross proceeds of the offering will be used to advance any required future exploration expenditures in relation to the Joy District, to fund working capital and general corporate purposes, project investigations, and to progress Amarc's other properties, including the Duke and Ike.

"While the importance of the Aurora gold-copper deposit continues to come into focus, the institutional investors that participated in the offering also see the broader Tier 1 potential of the Joy district in which Aurora is located," said Amarc president and chief executive officer Dr. Diane Nicolson. "Amarc believes Aurora, a deposit with strong gold and copper grades in the near surface environment, continuity of mineralization, positive geometry, and growing scale, is not only important to unlocking the potential of the Joy district, but may well stand to be the key to the future development of the Toodoggone region. I want to thank Amarc's existing investors that participated in the offering for their continued vision and welcome the new investors who have joined us to realize the full potential of our three copper-gold districts -- Joy, Duke and Ike."

In accordance with Canadian securities laws, the shares are subject to a four-month-and-one-day hold period in Canada that expires Jan. 10, 2027.

Agentis Capital Mining Partners is acting as financial adviser to the company.

About Amarc Resources Ltd.

Amarc is a mineral exploration and development company led by a management team with a 40-year record of generating strong shareholder value through the discovery and development, and the successful transaction of long-life, high-value copper and/or gold deposits both in British Columbia and on the global stage. Through its association with Hunter Dickinson Inc. (HDI), a diversified, global mining company, members of Amarc's team have been associated with 36 discoveries or projects significantly advanced, 14 of which have been mined or are currently in production, with more to come.

Amarc is advancing the Joy, Duke and Ike districts located in prolific porphyry regions of northern, central and southern British Columbia, all of which are in proximity to key industrial infrastructure -- including power, highways and rail. Each district represents significant potential for the discovery and development of multiple and important-scale, porphyry copper plus or minus gold deposits. The Joy and Duke districts have attracted more than $144-million in strategic partner funding to date, from two highly sophisticated industry participants: Freeport McMoRan Minerals Properties Canada Inc., a wholly owned subsidiary of Freeport-McMoRan, a foremost global copper producer, at Joy (see Amarc releases May 12, 2021, and May 29, 2025), and Boliden Mineral Canada Ltd., a wholly owned subsidiary of Boliden AB, a multinational Swedish metals, mining and smelting company, at Duke (see Amarc releases Nov. 22, 2022, and April 2, 2026).

The Joy district hosts the metal-rich Aurora gold-copper deposit, discovered in 2024, which stands to be the key to the development of not only the district but to the entire Toodoggone region. The Joy district is also host to multiple other historical deposits, discoveries and deposit targets. The Duke district, and the Duke deposit, are located in the Babine region, one of B.C.'s most prolific porphyry copper-gold belts that includes the past-producing Bell and Granisle mines, and the advanced stage Morrison deposit, held by third parties. The Ike district hosts two known copper plus or minus gold deposits open for drill expansion and multiple deposit-scale targets ready for drill discovery.

Amarc has only just begun to tap the full potential of its three districts and is unlocking shareholder value through its well-financed discovery focused exploration, a highly disciplined approach to development and by consistently working to develop close partnerships with governments, communities, indigenous groups and other stakeholders.

Qualified person

Mark Rebagliati, PEng, a qualified person (QP) as defined by National Instrument 43-101, has reviewed and approved all technical and scientific information contained in this news release. Mr. Rebagliati is not independent of the company.

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