AMARC RESOURCES

PROPERTY LOCATION & ACQUISITION DATE

Project Activities In The 2022 Season

Amarc Resources Ltd.

Vancouver, BC amarcresources.com

Contacts

GENERAL

Inquiries

& ENVIRONMENT

Jason Quigley President, One-Eighty Consulting 604 360 6536 jquigley@one-eighty.ca

LEADERSHIP & CONTRACTING

Diane Nicolson President & CEO 778 388 4603 dianenicolson @hdimining.com

EMPLOYMENT

Joyce Kim Human Resources, Advisor 604 684 6365 joycekim@hdmining.com

Amarc’s Joy Project is located 310 km north of Mackenzie and 265 kilometers north-northeast of Smithers, in Northern BC. The initial mineral claims were acquired in 2017 with additional mineral claims being added in subsequent years.

COMPANY OVERVIEW & UPDATE

Any successes or challenges you’d like to share?

One of the successes for the 2022 season, in which the team took great pride, was the work that Amarc completed in collaboration with local communities and the government to reclaim two orphaned historical exploration camps located on the Joy mineral claims.

Number of employees working on your project(s)?

There were up to eight Amarc employees working at the Joy Project during the 2022 field season.

Where does the majority of your financing come from year to year? What’s the breakdown of who owns your company and the company market cap?

Funding partners in terms of producers investing into the company’s projects. Amarc is held by a mixture of retail and institutional investors with a single shareholder owning more than 10% of the voting rights (see company’s Information Circular posted on sedar.com).

Exploration activities during the 2022 field season were focused on the completion of 37 core drill holes for 15,427 m, with geological traverses, soil geochemical and Induced Polarization (IP) geophysics surveys also being completed.

Tentative plans and hopes for the 2023 season?

Amarc is still receiving and evaluating results from the 2022 field season and once this process is complete, plans will be discussed with the Tahltan Central Government (TCG).

RELATIONSHIP WITH THE TCG & TAHLTAN NATION

During the 2022 season, what involvement did TCG personnel and departments have with your company? If they were not involved, why not?

During 2022, Amarc shared information and draft materials with the TCG for review and feedback. These materials included draft permit applications and supporting materials in advance of government consultation, press releases, and sharing information about planned exploration programs for the upcoming season.

TCG and Amarc also executed an Exploration Agreement in April 2022, which outlines protocols for engagement between the parties, as well as an approach for collaboration and achieving mutual benefit.

In 2022, how many Tahltans did you employ? What positions did they hold in your company and what percentage of Tahltans did you employ compared to others?

Amarc reached out primarily through Tahltan Hy-Tech Drilling Ltd., and in addition a Tahltan ore processing technician was hired accounting for approximately 25% of the those employed.

What employment opportunities, now and in the future, are available to Tahltan members?

At the current time, the Joy Project is on care and maintenance over the winter months. Moving forwards in 2023 and into the summer field season, opportunities could potentially include, for example, ore processing technicians, Level 3 First Aid attendants, amp personnel, and expeditors.

Why should Tahltan members want to work for you?

At Amarc, we offer competitive salaries and the opportunity to learn new skills in a professional and friendly team environment. Successful candidates will receive on the job training; and previous mineral exploration or mining experience is not required. The work duties for a field technician are varied and interesting.

Did you have any Tahltan contractors working for your company? Who and what percentage of your contracting dollars went to Tahltan companies, including TNDC and their joint ventures?

Yes. One of the two primary, and most important, contracts for the 2022 field season was awarded to Tahltan Hy-Tech Drilling Ltd., with two fly rigs continuously busy on site at Joy from June into October, inclusive.

Do you have any outside contractors working for you? If so, who are they? Who were the primary contractors you utilized? Do they offer employment opportunities to Tahltan members?

Other than Tahltan Hy-Tech Drilling Ltd. the other primary contract was with Silver King Helicopters (Smithers office: 250 877 1989).

Anything else you would like to share with the Tahltan Nation?

Amarc is committed to working co-operatively and progressing our relationship with the Tahltan Nation. We will continue to share information and plans with the TCG, and we look forward to ongoing dialogue with Tahltan businesses and members for contracting and employment opportunities.

Top: Tahltan Hy-Tech drill rig operating on JOY during the 2022 field season.

Middle: In 2022, Amarc permitted an exploration camp which was located on the site of an historical exploration camp that was reclaimed by Amarc in collaboration with local communities.

Left: Geologists heading out for the day on mapping traverses.

MINERAL EXPLORATION