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Amarc Builds on Disruptive AuRORA Discovery Success and Advances Pipeline of High Demand District-Scale Copper-Gold Assets in British Columbia During 2025

VANCOUVER, BC / ACCESS Newswire / January 15, 2026 / Amarc Resources Ltd. (“Amarc” or the “Company”) (TSXV:AHR,OTC:AXREF)(OTCQB:AXREF) materially strengthened its position during 2025 as one of Canada’s leading copper-gold exploration companies. Continued discovery success built on a foundation of systematic and informed exploration across the JOY, DUKE and IKE Copper-Gold Districts validates Amarc’s district-scale exploration model. This is being accomplished at JOY and DUKE while preserving significant shareholder leverage through staged, non-dilutive funding under joint venture agreements with major mining companies to secure up to $200 million in funding, of which approximately $81 million has been received so far. Amarc is positioned to deliver wealth through disciplined execution, discovery success and continued advancement of a district-scale copper-gold portfolio in British Columbia (“BC”). Momentum is now building towards potential transactions with the effective advancements of the Districts.

In January 2025, Amarc announced the discovery of the exciting new, high grade near surface gold-rich porphyry copper-gold-silver (“Cu-Au-Ag”) AuRORA Deposit, hosted in the emerging JOY Cu-Au District (see Amarc January 17, 20 and February 28, 2025 releases). Amarc believes that the rare combination of high Au with strong Cu and Ag grades, deposit geometry, continuity of mineralization and the emerging scale of AuRORA indicates that not only does it now stand as one of the most important recent porphyry Cu-Au discoveries in BC, but it has the hallmarks of a Tier One asset in the making.

Heading into drilling this past year, the Amarc team anticipated that the mineralization discovered in 2024 by 20 drill holes over an area of approximately 600 m by 600 m had significant expansion potential. Twenty-three step-out deposit expansion holes over an area of approximately 1 km by 1 km, and a single infill hole were drilled in 2025. Assay results for 11 of the expansion holes announced to date and drilled along four sections indicate that the deposit has been expanded at least 300 m to the north, 200 m to the east and 300 m to the southeast (see Amarc September 22, November 3 and December 10, 2025 releases). Assay results from the remaining 12 expansion holes drilled at AuRORA in 2025 are being received and will be released shortly.

The AuRORA Deposit lies within the high potential 630 kmJOY Cu-Au District (“JOY”) is located within the prolific Toodoggone-Kemess porphyry Cu-Au region (“Toodoggone”) of north-central BC. Amarc believes the discovery of AuRORA has rewritten the exploration play book in this region; it is not only integral to bringing rapidly forward the potential of the JOY District, but could be the key to the emergence of a world-class porphyry Cu-Au district in the Toodoggone.

In addition to the AuRORA Deposit, the TWINS and Canyon Discoveries, the PINE, Brenda and MEX historical deposits and new, high potential deposit targets are also actively being advanced at JOY. There is clearly a lot more to come from the JOY District.

The JOY District is now being advanced through AuRORA Minerals Ltd, (“AML”) a private joint venture corporation held 60% by Freeport-McMoRan Mineral Properties Canada Inc. (“Freeport”) and 40% by Amarc (see September 4, 2025 release). In addition, Freeport has elected to earn a further 10% interest in the JOY District by funding an additional $75 million in staged expenditures. Freeport’s investment decision underscores both the scale potential of the district and the quality of Amarc’s technical framework.

In support of this momentum, Amarc executed on behalf of AML, an expanded exploration program exceeding $16 million in 2025, completing substantial drilling at AuRORA and across multiple other deposit targets. Concurrently, significant planning and technical work progressed towards optimizing a development strategy for the JOY District as a whole.

DUKE District

At the DUKE District, Boliden Mineral Canada Ltd. (“Boliden”), a wholly-owned subsidiary of the Boliden Group, is funding exploration activities (see November 22, 2022 release). Boliden funded approximately $10 million during the year with most applied to drilling, following $20 million invested through the end of 2024. Having funded a total of $30 million in exploration expenditures Boliden earned a 60% interest in the DUKE District, with the option to advance to 70% interest through a further $60 million investment at 2025 year end.

To the end of 2024, the exploration program included 52 drillholes totaling 21,728 metres, supported by extensive district-wide surface work, including soil geochemistry and induced polarization geophysical surveys. Drilling expanded the DUKE Cu-Mo-Ag Deposit and identified additional resource potential, while surface programs advanced several compelling new targets. Surface surveys to refine targets and initial scout drilling were the focus in 2025.

IKE District

Amarc’s 100%-owned IKE District captures one of BC’s most prospective mineral belts for both bulk-tonnage copper and higher-grade Cu-Au systems. Exploration efforts to date include drilling, relogging and re-assaying of historical core, comprehensive geochemical sampling, geological mapping, and ground and airborne geophysical surveys. The Company previously discovered the large-scale IKE Cu-Mo-Ag deposit and, in 2025, announced the results of a nine hole drill program which confirmed and built on those from historical drilling at the higher-grade Empress Cu-Au deposit. The District is positioned for significant advancement as conditions allow.

Outlook

With copper playing an increasingly critical role in global electrification and decarbonization trends and geopolitical uncertainty continuing to buoy interest in gold, Amarc enters 2026 with a high value, high demand pipeline of exploration and development opportunities. Copper is one of several metals expected to increase in value again this year, aided by clean tech manufacturing. Most analysts expect gold prices to moderate in 2026 compared to 2025, but with continuing upside potential. Amarc remains focused on disciplined, discovery-driven growth and on advancing its assets in a manner that maximizes the creation of shareholder value. Momentum is building towards potential transactions.

Qualified Person

Mark Rebagliati, P.Eng., a Qualified Person (“QP”) as defined by National Instrument 43-101, has reviewed and approved the technical and scientific information in this news release. Mr. Rebagliati is not independent of the Company.

For further details on Amarc Resources Ltd., please visit the Company’s website at http://www.amarcresources.com or contact Dr. Diane Nicolson, President and CEO, at (604) 684-6365 or within North America at 1-800-667-2114, or Kin Communications, at (604) 684-6730, Email: [email protected].

Neither the TSX Venture Exchange nor any other regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward Looking and other Cautionary Information

This news release includes certain statements that may be deemed “forward-looking statements”. All such statements, other than statements of historical facts that address exploration plans and plans for enhanced relationships are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: Amarc’s projects will obtain all required environmental and other permits and all land use and other licenses, studies and exploration of Amarc’s projects will continue to be positive, and no geological or technical problems will occur. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, potential environmental issues or liabilities associated with exploration, development and mining activities, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and tenure and delays due to third party opposition, changes in and the effect of government policies regarding mining and natural resource exploration and exploitation including the effects of land use plans that may impact activities on or access to properties, exploration and development of properties located within Aboriginal groups asserted territories may affect or be perceived to affect asserted aboriginal rights and title, which may cause permitting delays or opposition by Aboriginal groups, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Amarc Resources Ltd., investors should review Amarc’s annual Form 20-F filing with the United States Securities and Exchange Commission at http://www.sec.gov and its home jurisdiction filings that are available at http://www.sedarplus.ca .

[1] The Economist, World Ahead 2026, November 13, 2025.

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Progressive Critic of Israel Edges Past Ex-Congressman as AIPAC Sits Out New Jersey Primary By: Jamie Herndon The outcome of this primary carries consequences that extend far beyond the immediate contest. As the JNS report noted, the 11th District is strongly Democratic, rendering the winner of the primary a prohibitive favorite in the April 16 special election against Republican nominee Joe Hathaway. The seat became vacant when Democrat Mikie Sherrill resigned following her election as New Jersey’s governor last November. In practical terms, the primary winner will likely assume office, making this intraparty contest a decisive moment for the district’s representation in Washington and a bellwether for the Democratic Party’s evolving coalition. At the center of the race is a striking realignment of advocacy and influence. Malinowski, a former U.S. assistant secretary of state and a two-term congressman with a record of mainstream Democratic support for Israel, once benefited from backing by the American Israel Public Affairs Committee. In this cycle, however, the political terrain has shifted. JNS reports that AIPAC’s United Democracy Project, the organization’s super PAC, spent $2.3 million opposing Malinowski through negative advertising, phone outreach, and mailings. The reversal is emblematic of the turbulence within pro-Israel advocacy circles, where definitions of “support” are increasingly contested amid broader ideological polarization. Mejia, by contrast, has emerged as a figurehead of the progressive insurgency that has gained momentum in recent cycles. Endorsed by Senator Bernie Sanders and Representatives Alexandria Ocasio-Cortez and Ayanna Pressley, she has articulated positions that place her firmly within the party’s left wing. As the JNS report documented, Mejia has accused Israel of committing genocide in Gaza and pledged not to participate in AIPAC-funded trips to Israel, symbolic gestures that resonate with a segment of Democratic voters increasingly critical of Israeli policy and skeptical of traditional pro-Israel advocacy frameworks. For her supporters, these stances represent moral clarity and a willingness to challenge entrenched foreign policy orthodoxies; for her critics, they signal a departure from bipartisan consensus and a troubling erosion of support for the U.S.-Israel relationship. The financial and organizational dynamics of the race have amplified these ideological contrasts. J Street, a liberal pro-Israel advocacy group that positions itself as supportive of Israel while critical of certain Israeli government policies, endorsed Malinowski in this contest. Patrick Dorton, a spokesman for the AIPAC-affiliated super PAC, told the outlet that there were “several candidates in this race that are far more supportive of the U.S.-Israel relationship than Tom Malinowski,” a statement that underscored the degree to which Malinowski’s nuanced position — supportive of Israel’s right to defend itself while critical of Prime Minister Benjamin Netanyahu’s policies — has become insufficiently orthodox in the eyes of some pro-Israel activists. The paradox of the moment, as JNS has observed, is that Malinowski, once regarded as a reliable ally, now finds himself targeted by the very forces that previously supported him. Malinowski’s own articulation of his stance reflects the narrowing corridor for nuanced positions in contemporary politics. In an interview with JNS last month, he rejected the notion that support for Israel requires uncritical alignment with the Netanyahu government. “I’m in the mainstream of both the Democratic Party and of the Jewish community in strongly supporting Israel and its right to defend itself while being critical of some of the policies of the Netanyahu government,” he said. “If AIPAC’s definition of pro-Israel excludes someone like me, there will not be enough pro-Israel people left in America to support an alliance for Israel.” The remark captures a broader anxiety among centrist Democrats that the boundaries of acceptable discourse are being redrawn in ways that marginalize voices seeking to balance solidarity with critical engagement. For Mejia and her allies, the primary’s close margin is evidence that the party’s base is receptive to a more confrontational posture toward entrenched interests, both domestic and international. Adam Green, co-founder of the Progressive Change Campaign Committee, attributed Mejia’s strong showing to her policy positions and the resonance of her message among voters seeking transformative change. As JNS quoted him, “Analilia Mejia’s momentous showing proves that voters, when given a choice, want Democrats with an inspiring vision who will boldly challenge powerful interests on behalf of working families.” Green framed the race as part of a broader pattern, noting that it marked the second major congressional primary in two weeks in which voters favored a more progressive candidate. The implication is that Democratic voters are increasingly inclined to prioritize systemic reform over incrementalism, even at the risk of fracturing longstanding alliances. The district itself provides a revealing backdrop for this ideological contest. New Jersey’s 11th has historically blended suburban affluence with pockets of working-class communities, producing representatives who navigated a pragmatic middle path within the Democratic coalition. The emergence of Mejia as a frontrunner suggests that the demographic and political composition of the electorate may be shifting, or that voter priorities have been recalibrated by national currents. The JNS report highlighted how the confluence of economic anxieties, generational change, and polarized discourse over foreign policy has created fertile ground for candidates who promise to “shake up a broken political and economic system,” as Green put it. The implications of this race extend to the broader debate over the Democratic Party’s posture toward Israel. The party is grappling with internal tensions between traditional pro-Israel stances and a growing progressive wing that views Israeli policies through the prism of human rights and anti-colonial critique. Mejia’s rhetoric, including her use of the term “genocide,” places her at the more confrontational end of this spectrum. Malinowski’s insistence on a balanced approach — supportive of Israel’s security while critical of specific policies -- represents an increasingly embattled middle ground. The primary thus functions as a microcosm of a national debate, one in which electoral outcomes may recalibrate the party’s foreign policy signals. Outside spending has further complicated the narrative. The $2.3 million expended by AIPAC’s super PAC against Malinowski has raised questions about the efficacy and optics of negative campaigning within intraparty contests. Critics argue that such spending risks alienating voters who resent perceived interference by well-funded interest groups, potentially strengthening the appeal of insurgent candidates like Mejia. Supporters of the spending counter that it reflects a principled effort to support candidates deemed more aligned with the organization’s policy priorities. The close margins in the 11th District suggest that the influence of such spending is neither negligible nor determinative, but rather one factor in a complex electoral ecosystem. As the count nears completion, the atmosphere surrounding the race remains charged with anticipation. A handful of ballots could tip the balance, yet the broader narrative has already crystallized: a progressive challenger, backed by prominent critics of Israeli policy, has mounted a formidable challenge to a former congressman associated with mainstream Democratic foreign policy. The JNS report framed this moment as emblematic of a party at a crossroads, navigating the tension between ideological fervor and coalition maintenance. Should Mejia ultimately prevail, her victory will be interpreted as a signal that progressive critiques of U.S. foreign policy, including toward Israel, can win in districts once considered bastions of centrist liberalism. Should Malinowski reclaim the lead, the result would affirm the enduring, if embattled, viability of a nuanced pro-Israel stance within the Democratic Party. Either outcome, as JNS has underscored, will reverberate beyond New Jersey, informing how candidates, advocacy groups, and party leaders calibrate their strategies in an era of intensifying polarization. In the narrow margins of this primary, the contours of a broader political realignment come into view — one that may redefine the Democratic Party’s internal debates for cycles to come.
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