Dr. Diane Nicolson reports

AMARC AND FREEPORT SUCCESSFULLY COMPLETE 2026 JOY COPPER-GOLD DISTRICT EXPLORATION PROGRAM

Aurora Minerals Ltd., a private joint venture company owned 60 per cent by Freeport-McMoRan Mineral Properties Canada Inc. and 40 per cent by Amarc Resources Ltd., has completed its 2026 exploration program at the Joy district in the Toodoggone region of north-central British Columbia. The $22-million program was financed by Freeport (see Amarc release dated July 21, 2026). Amarc is the primary contractor managing AML's site programs under a separate service agreement.

Dr. Diane Nicolson, president and chief executive officer, commented: "This season's exploration program continued to advance the potential of the Aurora deposit and to unlock what Amarc considers to be the Tier 1 potential of the 630-square-kilometre Joy copper-gold district in the Toodoggone region of British Columbia. With a rare combination of high intersected grades near surface, as well as excellent continuity and geometry in the discovery holes, Aurora is shaping up to be potentially one of British Columbia's highest-grade porphyry gold-copper-silver discoveries.

"Drilling was designed to both expand the Aurora deposit and to further explore the promising Twins copper-gold discovery within an underexplored and an extensive 8.5-square-kilometre sulphide system. Assay results will be reported once received and verified.

"Widespread surface exploration surveys were also completed in 2026. These surveys have defined what Amarc believes is another new porphyry gold-copper trend: the 12-kilometre-long Aurora trend (see Amarc release Aug. 12, 2026). Anchored in the west-southwest by the Aurora deposit and Northwest Gossan sulphide system, the Aurora trend runs east-northeast through the new ROE and the White Pass mineralized systems (the latter of which hosts the Brenda deposit) and a target area called Nub. The Aurora trend is subparallel to Joy's northeast-oriented Pine trend, located some 11 km to the south that hosts the Pine deposit, and the Twins and Canyon discoveries. The Aurora and Pine trends are also subparallel to the east-northeast-striking trend of the Kemess Au-Cu deposits (including Nugget, Central, Main, Underground and East) located further to the south and owned by Centerra Gold Inc."

Highlights of the 2026 Joy district field program:

• This year, 13,962 metres of core drilling was completed in 16 drill holes at the Joy district with up to four drill rigs at the Aurora deposit, NWG target and the Twins discovery. From 2017 to date, a total of 68,459 metres of drilling has been completed in 143 drill holes at Joy:
  • Aurora deposit expansion: 4,862 m of core drilling in seven stepout expansion drill holes at Aurora (to date, 22,450 m in 52 drill holes); these follow up on the 2024 discovery and 2025 expansion drilling at the Aurora deposit that expanded the mineralized drilling footprint from 600 m by 600 m to 1,400 m by 800 m (see Amarc release dated Jan. 17, 2025, Jan. 20, 2025, Feb. 28, 2025, and Jan. 23, 2026). Assay results will be reported once received and verified.
  • NWG target: 1,405 m of core drilling in three drill holes designed to further drill test the newly expanded NWG target. Assay results will be reported once received and verified.
  • Twins discovery: 7,694 m of core drilling in six drill holes to expand the Twins discovery hosted in a high-potential 8.5-square-kilometre sulphide system that may represent the largest sulphide system within the Toodoggone. Assay results will be reported once received and verified.
• Approximately 45 square kilometres of geological mapping.
• Nine hundred sixty-seven grid soil samples (to date, 9,862 samples), 358 rock chip samples (to date, 3,239 samples), 102 talus fines samples and 125 silt (to date, 467 samples) geochemical survey samples were also completed.
• Sixty-four line km of ground induced polarization geophysics (total current and historical 726 line km). As previously reported (see Amarc release dated Aug. 12, 2026), this year's ground IP has expanded known as well as identified major new sulphide systems along the emerging east-northeast 12-kilometre Aurora trend. The trend is composed of a cluster of porphyry gold-copper deposits and deposit targets exposed at different levels and expansive sulphide systems yet to be drill tested. This survey work along the Aurora trend achieved the following:
  • NWG target/Aurora deposit: expanded the original 4.5-square-kilometre NWG sulphide system that hosts the Aurora gold-copper deposit eastward over an area that now covers seven square kilometres and which remains to be fully drill tested.
  • ROE target: discovered a new and still open 4.5-square-kilometre sulphide system named the ROE target, adjacent to the east of the expanded NWG sulphide system.
  • White Pass/Brenda deposit: expanded the White Pass sulphide system that hosts the historical Brenda Au-Cu deposit from 3.0 square kilometres to 5.0 square kilometres.
  • Nub target: extended the Nub sulphide system, which has the potential to host multiple porphyry centres, and where survey work and initial scout drilling in previous years (see Amarc releases dated Feb. 19, 2026, and Oct. 22, 2025) have encountered the presence of gold-copper-silver enriched porphyry style alteration in scout drill holes.

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., a diversified, global mining company, members of Amarc's team have been associated with 39 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.

At Joy, Freeport-McMoRan Mineral Properties Canada, a wholly owned subsidiary of Freeport-McMoRan Inc., earned, under the mineral property earn-in agreement, an initial 60-per-cent interest in the Joy district by financing $35-million under an accelerated time frame (see Amarc releases dated May 12, 2021, and May 29, 2025). The Joy district is being advanced through Aurora Minerals, a private joint venture corporation held 60 per cent by Freeport and 40 per cent by Amarc (see Amarc release dated Sept. 4, 2025). Freeport has elected to earn a further 10-per-cent interest in the Joy district by financing an additional $75-million in staged expenditures. While Freeport is now the operator of Joy, Aurora Minerals, the joint venture company has appointed Amarc as the primary contractor to continue to manage the Joy exploration programs under a separate service agreement. In support of this momentum, Amarc executed on behalf of AML, an expanded exploration program of $20-million in 2026 (see Amarc release dated July 21, 2026, release).

At the Duke district, Boliden Mineral Canada Ltd., an entity within the Boliden group, a multinational Swedish metal provider primarily focused on zinc and copper, at Duke (see Amarc releases dated Nov. 22, 2022, and April 2, 2026), continues its participation having sole financed $30-million of exploration expenditures though to the end of 2025. Boliden and Amarc have entered a 60:40 joint venture, under which the parties must finance exploration activities on a pro rata basis or dilute their interest in the Duke JV. Amarc is the operator at the Duke district and is completing on behalf of the joint venture a $4-million exploration program in 2026 (see Amarc June 26, 2026, news release).

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, through 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 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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