Amarc Resources completes drill program at Joy district

Executive Summary

• Amarc Resources Ltd. successfully completed its 2025 drill program at the Joy Copper-Gold District in British Columbia, focusing on expanding the Aurora deposit.
• The program was funded by Freeport-McMoRan Mineral Properties Canada Inc., which elected to proceed to Stage 2 of the earn-in agreement by sole-funding $75 million to earn an additional 10% interest in Aurora Minerals Ltd.
• Drilling results confirm high-grade, near-surface Cu-Au-Ag mineralization with exceptional vertical and lateral continuity, extending the tested area at Aurora to approximately 1 km by 1 km.

Key Details

• Drilling Statistics:
  • Total of 15,381 metres of core drilling completed in 35 drill holes across the Joy district.
  • 24 core holes (9,687 m) were drilled specifically at the Aurora deposit (23 stepout expansion holes and 1 infill hole).
  • Cumulative drilling at Aurora from 2024-2025 totals 45 drill holes for 17,586 m.
  • Total Amarc drilling since 2017 stands at 127 holes for 54,497 m.
• Aurora Deposit Highlights:
  • The area tested at Aurora now extends over approximately 1 km by 1 km.
  • Hole JP24075 (2024 Highlight): 266 metres of 1.2 g/t Au, 0.31% Cu, and 3.4 g/t Ag from 34 m; including 109 m of 2.41 g/t Au, 0.51% Cu, and 5.3 g/t Ag from 37 m.
  • Hole JP25098 (2025 Partial Results): Located ~260 m southeast of JP24079 and ~350 m ESE of JP24081/JP24084. Host rocks, alteration, and mineralization are consistent with the 2024 discovery, illustrating significant expansion potential.
• Other Exploration Activities:
  • Drilling also targeted expansion of the Twins and Canyon Discoveries and tested new high-potential Cu-Au targets.
  • Geophysics: 64 line km of ground-induced polarization (Total: 662 line km) and 96 square km of airborne magnetics (Total: 532 square km).
  • Geochemistry: ~90 square km of geological mapping, 938 grid soil samples (Total: 9,321), 640 rock chip samples (Total: 2,881), and 319 silt samples.
• Transaction & Joint Venture Terms:
  • Freeport-McMoRan elected to proceed to Stage 2 of the Joy mineral property earn-in agreement.
  • Freeport sole-funded $75 million to earn an additional 10% interest in Aurora Minerals Ltd.
  • The Joy district is now advanced under a private joint venture corporation agreement.
  • Amarc manages and is the primary contractor for exploration at the Joy district on behalf of Aurora Minerals Ltd.
  • Shareholding in Aurora Minerals Ltd.: Freeport (60%) and Amarc (40%).
  • Freeport can earn up to a 70% interest in the Joy district through staged investments.
• Future Outlook:
  • Next assay results expected later in the month, with additional results to be released in batches over the coming months.

Notable Quotes

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