- **Amarc Resources Ltd.** and **Freeport-McMoRan Mineral Properties Canada Inc.** have successfully completed the **2025 drill program** at the JOY District, primarily focused on expanding the **AuRORA Deposit**.  **[1175596_0001654954-25-012063_ahr_ex991.htm:0]** 
- The program involved **15,381 meters of core drilling** across 35 drillholes, with **9,687 meters** specifically at AuRORA, expanding the drill-tested area to approximately **1 km by 1 km**.  **[1175596_0001654954-25-012063_ahr_ex991.htm:0]** 
- **Freeport** is **sole-funding the CAD $15+ million 2025 exploration program** and has committed an additional **CAD $75 million** to increase its interest in AuRORA Minerals Ltd. to **60%**.  **[1175596_0001654954-25-012063_ahr_ex991.htm:0]** **[1175596_0001654954-25-012063_ahr_ex991.htm:1]** 
- Amarc believes the AuRORA discovery could lead to the emergence of a **potential world-class porphyry Cu-Au district**.  **[1175596_0001654954-25-012063_ahr_ex991.htm:0]**

Amarc and Freeport Complete 2025 Aurora Expansion Drill Program at Joy Copper-Gold District

- Amarc Resources Ltd. reported a **net loss of $379,029** for the three months ended June 30, 2025, an improvement from a net loss of **$822,799** for the same period in 2024.  **[1175596_0001654954-25-010211_ahr_ex991.htm:0]** **[1175596_0001654954-25-010211_ahr_ex991.htm:1]** **[1175596_0001654954-25-010211_ahr_ex992.htm:11]** 
- As of June 30, 2025, the company had **cash of $4,038,343**, a working capital deficiency of **$1,654,858**, and an accumulated deficit of **$74,319,629**, with a material uncertainty regarding its ability to continue as a going concern.  **[1175596_0001654954-25-010211_ahr_ex991.htm:0]** **[1175596_0001654954-25-010211_ahr_ex991.htm:2]** 
- In the **JOY District**, Freeport-McMoRan Mineral Properties Canada Inc. earned a **60% interest** by investing **$35 million** and is expected to elect to fund an additional **$75 million** for a **70% interest**.  **[1175596_0001654954-25-010211_ahr_ex992.htm:2]** **[1175596_0001654954-25-010211_ahr_ex992.htm:5]** **[1175596_0001654954-25-010211_ahr_ex991.htm:5]** **[1175596_0001654954-25-010211_ahr_ex992.htm:7]**  A **$10 million** 2025 exploration program, funded by Freeport, has commenced.  **[1175596_0001654954-25-010211_ahr_ex992.htm:5]** **[1175596_0001654954-25-010211_ahr_ex992.htm:7]** 
- In the **DUKE District**, Boliden Mineral Canada Ltd. is funding a **CAD$10 million** 2025 drill program as part of its option to earn up to a **70% interest**, while Amarc is self-funding work at the **IKE District**.  **[1175596_0001654954-25-010211_ahr_ex992.htm:2]** **[1175596_0001654954-25-010211_ahr_ex992.htm:5]** 
- **Carol Li** was appointed as the new **CFO** effective **July 19, 2025**, succeeding Thomas Wilson.  **[1175596_0001654954-25-010211_ahr_ex992.htm:5]**

AMARC RESOURCES (AXREF)