AMARC RESOURCE LTD - AXREF STOCK NEWS

Amarc Resources Ltd. announces an increase in investment from Freeport-McMoRan for the JOY Cu-Au District exploration in British Columbia. Year 1 funding for the 2021 exploration program rises from $4 million to $5.94 million. The program has successfully completed nine core holes totaling over 4,300 meters, focusing on the PINE and MEX deposits. Advanced IP surveys reveal significant potential for copper-gold mineralization at various targets. Laboratory results are pending for over 800 samples collected this season, further supporting exploration efforts.

Amarc Resources Ltd. has appointed Jeannine Webb as the new Chief Financial Officer, replacing Sebastian Tang, who resigned to focus on his accounting business. Webb brings over 25 years of experience in the resources sector and has served as CFO for numerous junior resource companies. Dr. Diane Nicolson, President and CEO, expressed confidence in Webb's ability to enhance the company's financial management as they advance their projects. Amarc is focused on developing high-value copper-gold mines in British Columbia, with significant potential across three porphyry districts.

Amarc Resources Ltd. announced a 37.5% increase in funding from Freeport-McMoRan Mineral Properties Canada Inc., raising the first-year contribution from CDN$4 million to CDN$5.5 million for the ongoing exploration at the JOY District in British Columbia. This funding will primarily enhance the diamond drilling program. Amarc aims to advance deposit delineation and assess targets known for copper and gold mineralization. Initial results are expected by the end of summer, as Amarc positions itself for potential significant shareholder value creation.

Amarc Resources Ltd. (TSX-V:AHR)(OTCQB:AXREF) has signed a four-way Exploration Agreement with Takla, Tsay Keh Dene, and Kwadacha Nations for the JOY Cu-Au District in north-central British Columbia. The agreement, promoting responsible mineral exploration, includes provisions for training, employment, and environmental monitoring, ensuring First Nations participation. Amarc has also partnered with Freeport-McMoRan for the JOY District exploration, with plans for a comprehensive drilling program in 2021. The company is focused on developing high-value copper-gold mines in proximity to infrastructure.

Amarc Resources Ltd. (TSXV:AHR)(OTCQB:AXREF) highlights a surge in global copper demand driven by renewable energy and electrification technologies. CEO Dr. Diane Nicolson states that a significant supply gap, predicted by Goldman Sachs to reach 8.2 million tonnes by 2030, underscores copper's critical role in achieving carbon-neutrality. Demand from wind, solar, and electric vehicles is expected to rise dramatically, with EV-related copper demand soaring over 1,000%. Amarc's three key copper-gold districts in British Columbia present a strategic position to capitalize on these trends.

Amarc Resources Ltd. (OTCQB:AXREF) has signed a Mineral Property Earn-In Agreement with Freeport-McMoRan, allowing Freeport to acquire up to a 70% stake in Amarc's JOY copper-gold district in British Columbia. The JOY District spans 482 km² and includes key targets like the PINE and MEX deposits. Freeport plans to invest CDN $35 million over five years, initiating a $4 million program in the first year. Amarc's partnership with Freeport aims to leverage their combined expertise to develop the promising mineral potential of the JOY District sustainably.

Amarc Resources Ltd. has entered into an Exploration Agreement with the Lake Babine First Nation for the DUKE Cu-Au District in British Columbia. The agreement outlines respectful engagement and cooperative planning to ensure mutual benefits. Spanning 704 km², the DUKE Project boasts a 100% interest held by Amarc and includes significant exploration targets. The company plans to conduct further exploration, supported by local infrastructure. Amarc emphasizes collaboration with indigenous groups for sustainable development and economic opportunities.

Amarc Resources Ltd. (TSXV:AHR)(OTCQB:AXREF) will exhibit at the 2021 Prospectors and Developers Association Conference from March 8 to 11. The company invites delegates to visit its virtual booth to discuss developments concerning its 100%-owned copper-gold districts in British Columbia: IKE, JOY, and DUKE. These districts contain four known copper-gold deposits and ten fully permitted porphyry copper-gold targets ready for drilling. Mark Rebagliati, a qualified person, has approved the technical content of this release.