Amarc Resources Ltd. announced that core drilling has resumed at its 100%-owned DUKE porphyry Cu-Au district in central British Columbia after an end of year break. This is the first phase of programs to be funded under the Mineral Property Earn-in Agreement with Boliden Mineral Canada Ltd., a wholly-owned subsidiary of the Boliden Group. Under the terms of that Agreement, Boliden may earn up to a 70% ownership interest, by investing in stages up to $90 million in the exploration and development of Amarc's DUKE District.

Amarc is project operator during the earn-in phase. Core drilling focused at the DUKE Deposit was initiated in late 2022, with two holes completed prior to the holiday break. One core rig is now drilling and will be joined by a second rig later this week.

One rig will focus on further delineating the DUKE Deposit, while the other will drill test the largely overburden covered, 3 km2 Induced Polarization ("IP") chargeability anomaly that surrounds the DUKE Deposit. IP chargeability surveys measure the relative quantity of sulphide mineralization and are particularly effective in detecting potential porphyry Cu deposits covered by overburden. The fully-funded 2023 program is planned to continue until spring break-up, then recommence again in the summer with drilling and additional surface programs testing some 12 prioritized deposit targets across the DUKE District.