IP Chargeability Results Outline Extensive Mineralized Systems within 8 Target Areas

Multiple Drill Programs Designed to Develop the JOY District

Amarc has employed a highly effective targeting strategy that synthesizes extensive historical data with results from its own, modern geological investigations. This proven scientific process has defined 7 large (1 to 8 km²), high potential porphyry Cu-Au exploration target areas at JOY, most of which host multiple targets.

Target areas include the MEX Cluster, Tree, Canyon South, Twins, SW Takla, Central Takla and North Finley. Each is drill ready or can be rapidly brought to a drill ready status with focused surface surveys.

Additional details on 2 of these target areas (the MEX Cluster and Canyon South) are provided below.

MEX Deposit Cluster Highlights

• Located - between the PINE Deposit and MEX mineralized systems
• Exploration - multiple coincident soil geochemical, IP chargeability and airborne magnetics geophysical surveys, and geological sericite-chlorite alteration anomalies
• Opportunity - clear potential with drilling to discover additional PINE-style mineralization
• Reference – JOY Report

Canyon South

• Located - 3 km SW of the PINE Deposit
• Exploration - coincident IP chargeability and magnetic airborne geophysical anomalies, permissive structural intersections with peripheral historical drill holes returning Cu and Au values indicative of the outer regions of a porphyry system
• Opportunity – good opportunity exists to define another porphyry Cu-Au system by modern drilling guided by additional IP survey work
• Reference – JOY Report