Amarc Resources Ltd. reported completion of the Phase 1 core drilling program at its 100%-owned DUKE porphyry Cu-Au district ("DUKE District" or "DUKE"), central British Columbia ("BC"). Three drill rigs were deployed during the program completing 11,070 m in 24 core holes. Two rigs focused on further delineating the DUKE Cu-Mo-Ag-Au Deposit, while the third commenced testing the shallow overburden covered and robust 4.7 km2 Induced Polarization ("IP") chargeability anomaly.

This IP chargeability anomaly surrounds the DUKE Deposit and is indicative of an expansive mineralized sulphide system. Amarc and Boliden are now actively planning the Phase 2 exploration works that will commence in early summer, and which will include extensive surface surveys to explore 10 prioritized porphyry Cu deposit targets across the DUKE District. These Phase 1 and 2 programs through 2023 are budgeted at $10 million and are being fully funded under the Mineral Property Earn-in Agreement with Boliden Mineral Canada Ltd. ("Boliden").

Amarc is project operator. Strong results have already been reported from the first two Phase 1 drill holes, which were completed in late 2022. These holes, DK22009 and DK22010, intersected significant Cu-Mo-Au-Ag mineralization from the bedrock surface to the bottom of each hole (542 and 557 m, respectively), extending the DUKE deposit to depth.

During Phase 1, an additional 22 holes were completed this year with on-site activities resuming in mid-January after a holiday break. As assay results from these holes are received, they will be compiled and timely reported.