Amarc Provides Update on Joy Copper-Gold District, BC, Initial 2021 Drilling Expands Pine Deposit, Intersecting 101.9 m of 0.56% CuEQ-1, Additional Large-Scale Porphyry Copper-Gold Deposit Targets Confirmed

Vancouver - Amarc Resources Ltd. ('Amarc' or the 'Company') (TSX-V: AHR; OTCQB: AXREF) is pleased to announce assay results from an initial, nine-hole drill program completed in 2021 with Freeport-McMoRan Mineral Properties Canada Inc.

Freeport is earning into the Company's 482 km2 JOY Cu-Au District ('JOY') located in the active Toodoggone portion of the Golden Horseshoe trend, north-central British Columbia ('BC').

'One of the key factors that drove our acquisition and consolidation of the JOY District was a recognition of the important-scale potential of the PINE copper-gold deposit,' said Amarc President & CEO Diane Nicolson. 'A significant number of historical core holes were available for reassessment, providing the scope for both reinterpretation and rediscovery. Building on these legacy assets, the three long core holes we completed at the PINE deposit in 2021 intercepted some of the highest grades over the longest intervals encountered to date and indicate the extension of copper-gold mineralization to significant depth. Also, valuable information derived from historical core holes combined with new surface mapping and geophysical surveys have confirmed additional potential for higher-grade zones within the known deposit, major lateral extensions and the discovery of proximal deposits.'

Nicolson said initial scout exploration drilling completed on other large-scale porphyry Cu-Au deposit targets within the JOY District, along with extensive Induced Polarization ('IP') geophysical surveys, have confirmed significant discovery potential. Amarc and Freeport have initiated detailed planning for a drill program at the PINE Deposit and aggressive drill testing of district targets in 2022.

About the JOY District

Amarc's 100%-owned JOY District is located on the northern extension of the prolific Kemess porphyry Cu-Au District, which includes the former Kemess South mine, the permitted and development-stage Kemess North underground deposit, and the advanced-stage Kemess East underground deposit - all currently held by Centerra Gold Inc. Through its association with Hunter Dickinson Inc., Amarc's technical team was first to recognize the Kemess District's true porphyry potential, acquiring Kemess North and Kemess South as early-stage prospects and advancing both to significant porphyry Cu-Au deposits. Kemess South was sold in 1996 on beneficial terms to a predecessor of Northgate Minerals, which brought that deposit into production.

The JOY District is readily accessed via resource roads servicing the southern end of the Toodoggone region, including Centerra's Kemess porphyry Cu-Au deposits and the historic Lawyers, Baker and Shasta epithermal precious metal mines now being redeveloped by Benchmark Metals Inc. and TDG Gold Corp, respectively.

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 copper-gold mines in BC. 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 its 100%-owned IKE, DUKE and JOY porphyry copper+/-gold districts located in different prolific porphyry regions of southern, central and northern BC, respectively. Each district represents significant potential for the development of multiple and important-scale, porphyry copper+/-gold deposits. Importantly each of the three districts is located in proximity to industrial infrastructure - including power, highways and rail.

Amarc is associated with HDI, a diversified, global mining company with a 30-year history of porphyry discovery and development success. Previous and current HDI projects include some of BC'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, IKE and PINE. 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. We pursue early and meaningful engagement to ensure our mineral exploration and development activities are well coordinated and broadly supported, address local priorities and concerns, and optimize opportunities for collaboration. In particular, we seek to establish mutually beneficial partnerships with Indigenous groups within whose traditional territories our projects are located, through the provision of jobs, training programs, contract opportunities, capacity funding agreements and sponsorship of community events. All Amarc work programs are carefully planned to achieve high levels of environmental and social performance.

Contact:

Dr. Diane Nicolson

Tel: [phone]

Forward Looking and other Cautionary Information

This news release includes certain statements that may be deemed 'forward-looking statements'. All such statements, other than statements of historical facts that address exploration plans and plans for enhanced relationships are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: Amarc's projects will obtain all required environmental and other permits and all land use and other licenses, studies and exploration of Amarc's projects will continue to be positive, and no geological or technical problems will occur. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, potential environmental issues or liabilities associated with exploration, development and mining activities, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and tenure and delays due to third party opposition, changes in and the effect of government policies regarding mining and natural resource exploration and exploitation, exploration and development of properties located within Aboriginal groups asserted territories may affect or be perceived to affect asserted aboriginal rights and title, which may cause permitting delays or opposition by Aboriginal groups, continued availability of capital and financing, and general economic, market or business conditions, as well as risks relating to the uncertainties with respect to the effects of COVID-19. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

(C) 2022 Electronic News Publishing, source ENP Newswire