Amarc And Freeport Launch Comprehensive Exploration Program Across The Joy Copper-Gold District

VANCOUVER, BC / ACCESSWIRE / June 26, 2023 / Amarc Resources Ltd. ("Amarc" or the "Company") (TSXV:AHR)(OTCQB:AXREF) is pleased to announce it has launched the 2023 field program at its 100%-owned JOY Copper-Gold District (or "JOY") in north-central British Columbia ("BC"). This extensive airborne and surface exploration program is focused on detailed refinement of multiple porphyry copper-gold ("Cu-Au") deposit targets clustered along mineralized trends over the 482 km² JOY property, in preparation for an extensive intended drilling program in 2024. The program will also include rehabilitation of road and bridge access to the PINE Cu-Au Deposit in the centre of the JOY tenure and other deposit targets to facilitate the ongoing detailed work and future drilling. The program is fully funded by Freeport-McMoRan Mineral Properties Canada Inc. ("Freeport"), with Amarc continuing as operator.

This year's program will continue to build on the successes of the systematic 2022 program (15,427 m in 37 core holes and extensive surface surveys) that expanded and further defined the potential of deposit-scale porphyry Cu-Au systems (see Amarc releases January 23, 2023 and March 2, 2023), highlights of which include:

• The emergence of several mineralized trends, similar to the 4 km-long northeast trend of the Nugget, Kemess North, Kemess Underground, Kemess Offset and Kemess East porphyry Cu-Au deposits in the Kemess Mining District held by Centerra Gold Inc., and located adjacent to the south of the JOY tenure;
• The northeast striking 15.5 km PINE Trend at JOY, which includes the sulphide systems outlined by Induced Polarization ("IP") surveys at the PINE (6 km²), Canyon (5 km²), Twins (7 km²) and SWT (3 km²) targets and supported by initial drilling results, indicating the potential for clustered porphyry mineralized deposits (see Amarc Corporate presentation https://amarcresources.com/investors/presentation/);
• The considerable strike extension of mineralization encountered from near surface to depth at the PINE Deposit to over 1,700 m, with outboard, more widely-spaced historical drilling indicating the potential to expand the length of the deposit footprint to over 2,600 m;
• Drill intercepts at the PINE Deposit include, for example (for full 2022 Drilling Results, see Amarc release March 2, 2023):
  • 204 m of 0.42% CuEQ* (0.18% Cu, 0.41 g/t Au and 2.3 g/t Ag)
  • 105 m of 0.40% CuEQ (0.13% Cu, 0.47 g/t Au and 2.3 g/t Ag)

* Copper equivalent (CuEQ) calculations here and below use metal prices of: Cu US$4.00/lb, Au US$1,800.00/oz, Ag US$24.00/oz and conceptual recoveries of: Cu 85%, Au 72% and 67% Ag.