Amarc Resources Ltd. · TSXV:AHR
Amarc Resources — Investor Presentation (March 2026)
58 slides from Amarc Resources's investor presentation, March 2026
Slide 1: AuRORA Discovery: BC's New Tier One Copper-Gold District
TSXV: AHR OTCQB: AXREF AuRORA DISCOVERY BC’s New Tier One Copper-Gold District March 2026 POWERING THE FUTURE
Slide 2: Cautionary and Forward-Looking Statement Information
Cautionary and Forward-Looking Statement Information This presentation 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 s
Slide 3: Amarc Investment Highlights
Amarc Investment Highlights POTENTIALLY BC’S HIGHEST GREENFIELD DISCOVERY TIER 1 GRADE GREENFIELD DISCOVERY PORPHYRY TIER 1 POTENTIAL Trajectory Towards 10 Moz AuEQ Rare Combination of Grade, Continuity, Geometry AuRORA JP24057: 70 mHIGH GRADE of 2.6 g/t NEAR Au, 0.42% SURFACE Cu and 5.0 g/t Ag1 AuR
Slide 4: Disruptive Discovery Benchmarking AuRORA Assay Grades Against BC Porphyry Mines
Disruptive Discovery Benchmarking AuRORA Assay Grades Against BC Porphyry Mines AuRORA BC MINES & DEPOSITS SELECT DISCOVERY INTERCEPTS PORPHYRY OPEN PIT +/- UG Drill Results (% CuEQ1) Measured and Indicated Resource (% CuEQ1) 1. CuEQ: see footnotes on pages 53 and 54. Copper Mountain: https://hudbay
Slide 5: Toodoggone Emerging as Potentially Canada's Last World Class Porphyry Cu-Au District
Toodoggone Emerging as Potentially Canada’s Last World Class Porphyry Cu-Au District Porphyry Golden Cu-Au Toodoggone Triangle District TOODOGGONE M&A Activity since 2018 +$4.8bn < $300m GOLDEN TRIANGLE Majors AuRORA Red Chris, Mines Kemess South GOLDEN Brucejack HORSESHOE JOY / AuRORA Eskay Creek A
Slide 6: Toodoggone Emerging +20 Moz District
Toodoggone Emerging +20 Moz District Drill Program 2025: 6,800 m9 (Centerra, AngloGold Ashanti) 5.21 Moz AuEQ3 Ranch Drill Program Drill Program 2025: 13,650 m8 2025: 12,800 m5 (Skeena) Current Past Total Lawyers Company Resource Production Resource (Moz AuEQ)* (Moz AuEQ) (Moz AuEQ) Shasta Kemess 10
Slide 7: Amarc Team is Unparalleled in Finding, Developing and Transacting Major Cu-Au Deposits
Amarc Team is Unparalleled in Finding, Developing and Transacting Major Cu-Au Deposits Dr. Diane Nicolson CEO & President Mark Rebagliati, P.Eng. Sr. Technical Advisor HDI’s BC SUCCESSES • Internationally successful mining executive • Exceptional explorationist & manager of and explorationist, PhD E
Slide 8: Joint Venture Substantial Investments Driving Emergence of Potential World-Class District
Joint Venture Substantial Investments Driving Emergence of Potential World-Class Porphyry Cu-Au District Amarc is Advancing the JOY • Freeport funded C$35 M at JOY earning a 60% interest in the JOY District with Strategic Partner District (May 29, 2025) Freeport McMoRan • Freeport is earning another
Slide 9: JOY District Large-Scale Mineral Systems Host the AuRORA, CANYON and TWINS Discoveries
JOY District Large-Scale Mineral Systems Host the AuRORA, CANYON and TWINS Discoveries, PINE Deposit, NWG and Other Sulphide Systems NWG • AuRORA Cu-Au Deposit • 4 km2 IP Chargeability Anomaly • Underexplored BRENDA PINE Deposit • PINE Au-Cu Deposit Finlay • 6 km2 IP Chargeability Anomaly Pil • From
Slide 10: JOY District
JOY DISTRICT Current Drilled Area of AuRORA Discovery Open to Expansion Hallmarks of a Tier One Asset in the Making Road Access NWG Target Sulphide System Area 10
Slide 11: AuRORA Deposit Discovery
Finlay Pil Option1 AuRORA TDG Deposit New Zone Discovery AuRORA Porphyry • Current Focus at Cu-Au-Ag Discovery Canasil AuRORA is Brenda Expansion Drilling, Option1 including Drilling Balance of NWG Sulphide System • Expanded Property New Zone to Protect Discovery with Nearby Property Options 4 km2 N
Slide 12: AuRORA Deposit Discovery
AuRORA New Zone Deposit Discovery OPEN High Grade Near Surface Continuity, Open to Expansion Cross Section 2025 Focus was 7900 N Deposit Step-Out Delineation Drilling 2026 Plans Include Continued Expansion of the Emerging Tier One AuRORA Deposit OPEN OPEN 1,400 m by 800 m Current AuRORA Footprint Op
Slide 13: AuRORA Deposit Step-Out Drilling Continues to Discover More Open-Ended Mineralization
AuRORA Deposit Step-Out Drilling Continues to Discover More Open-Ended Mineralization West Section 7900 N – AuRORA East Looking North 77 68 93 107 75 73 63 60 OPEN 41 m of 0.41% Cu, 0.89 g/t Au, 4.8 g/t Ag 192 m of 0.25% Cu, 0.52 g/t Au, 2.6 g/t Ag 200 m OPEN 452 m 13
Slide 14: AuRORA Deposit Step-Out Drilling Continues to Discover More Open-Ended Mineralization
AuRORA Deposit Step-Out Drilling Continues to Discover More Open-Ended Mineralization SE 115 112 98 NW 96 79 82 75 86 83 8991 109 119 OPEN 311 m OPEN 200 m Long Section – Looking Southwest 14
Slide 15: AuRORA Deposit New High Grade and Open-Ended Cu-Au-Ag Porphyry Discovery
AuRORA Deposit New High Grade and Open-Ended Cu-Au-Ag Porphyry Discovery Highlights from AuRORA Deposit Drill Holes1 Int. 1,2,3 From Au Cu Ag Int. 1,2,3 From Au Cu Ag Drill Hole Incl. Drill Hole Incl. (m) (m) (g/t) (%) (g/t) (m) (m) (g/t) (%) (g/t) JP24057 82 18 1.24 0.38 2.47 JP24075 266 34 1.24 0.
Slide 16: AuRORA Mineralization Strong Continuity of High-Grade
AuRORA Mineralization Strong Continuity of High-Grade 108 m of >1 g/t Au TUFF QSP INTR POTASSIC QSP 57 m of 2.4-8.0 g/t Au ~4:1 Example of Continuous STRONGLY POTASSIC ALTERED High-Grade Intercept1 High Au grades are Most holes exhibit NOT being carried similar grade by a few high continuity numbers
Slide 17: AuRORA Deposit Highlights and Notable Features
AuRORA Deposit Highlights and Notable Features • AuRORA is a new greenfields Au-Cu-Ag porphyry discovery with very high (especially Au) grades – in a previously undrilled gossan (lithocap) • Flat-tabular deposit geometry with high grade mineralization to top of bedrock • Excellent lateral and vertic
Slide 18: JOY District Scale Includes PINE, TWINS and CANYON Porphyry Cu-Au Systems
JOY District District Scale Includes PINE, TWINS and CANYON Porphyry Cu-Au Systems SWT MEX TREND CANYON MORE NORTH MAIN SOUTH TWINS PINE FINLAY 18
Slide 19: PINE Porphyry Trend at JOY District
JOY District PINE Porphyry Trend at JOY District SW PINE-TWINS PORPHYRY TREND AT JOY DISTRICT* NE 10 Kilometres TWINS DISCOVERY CANYON DISCOVERY PINE DEPOSIT ≥ 14 mV/V IP Chargeability Modela Indicates Significant Sulphide Mineralization Cross Section Viewing Northwest Kemess 4km * More recent drill
Slide 20: PINE Deposit Drilling Indicates Large Volumes of Au-Cu Mineralization
PINE Deposit PINE Deposit Drilling Indicates Large Volumes of Au-Cu Mineralization PINE TARGET 6 KM2 MINERALIZED FOOTPRINT OUTLINED BY 14 MV/V CHARGEABILITY ANOMALY 2,600 m Mineralized Trend 1,700 m PINE Deposit G A C D F Surface Surface J G I A I H L E 600 m D E F B C M H J K B A 2022 Results 2021
Slide 21: TWINS Discovery Porphyry Cu-Au Systems Discovered Beneath 8.5 km2 Au Bearing Lithocap
TWINS Discovery Porphyry Cu-Au Systems Discovered Beneath 8.5 km2 Au Bearing Lithocap 8.5 km2 TWINS Sulphide System 67 m of 0.19 g/t Au, 0.10% Cu, 1.2 g/t Ag 61 m of 0.14 g/t Au, 0.11% Cu, 19 1.2 g/t Ag 47 162 m of 0.17 g/t Au, 0.04% Cu, 0.5 g/t Ag 42 m of 0.19 g/t Au, 0.11% Cu, 49 0.6 g/t Ag 4 45 m
Slide 22: TWINS Discovery 2025 Drilling Targets Major Porphyry Copper-Gold Systems Below
TWINS Discovery 2025 Drilling Targets Major Porphyry Copper-Gold Systems Below TWINS Discovery – Looking Northwest TWINS Drill Results Table A A’ Drill Hole Int. 1,2,3 (m) Au (g/t) Cu (%) Ag (g/t) JP21004 42 0.19 0.11 0.6 106 67 0.19 0.10 1.0 51 113 JP22019 61 0.14 0.11 1.2 20 54 0.09 0.05 1.1 Surfa
Slide 23: CANYON Discovery Porphyry Cu-Au System Discovered Beneath 5 km2 Au Bearing Lithocap
CANYON Discovery Porphyry Cu-Au System Discovered Beneath 5 km2 Au Bearing Lithocap 5 km2 CANYON Sulphide System 46 59 m of 0.05% Cu, PIN09-14 42 0.18 g/t Au PIN09-15 36 MEX12-013 3 m of 11 g/t Au 30 29 17 43 38 5 OPEN 6 27 m of 0.06% Cu, 0.21 g/t Au 50 500 Metres 23
Slide 24: CANYON Discovery
E Section Looking Northwest E’ CANYON Discovery Surface 30 36 42 46 43 • Drilling at CANYON Intersects Large Porphyry Cu-Au System • Mineralization Remains Open to Expansion 200 m For assay results see Amarc release February 28, 2025. 24
Slide 25: DUKE District
DUKE DISTRICT Situated in Central BC with Key Infrastructure 25
Slide 26: DUKE District Advancing With Funding by Strategic Partner Boliden
DUKE District Advancing With Funding by Strategic Partner Boliden • Host to large Cu-Mo-Ag DUKE Deposit & multiple porphyry Cu-Au deposit targets American Eagle • $30 M invested by Boliden South32/Teck Amarc/Boliden 2022 through 2025 to 60% earned interest • Developments at Regional Glencore Mineral
Slide 27: Boliden at DUKE Funded $30 M and Earned a 60% Interest
DUKE Copper-Gold District • Boliden at DUKE Funded $30 M to the End of 2025 and Earned a 60% Interest in the DUKE District, Amarc is the Operator Completed 52 Drillholes (21,728 m), 8,185 Soil Samples, 325 km IP Drilling has discovered, expanded and identified additional resource potential at th
Slide 28: DUKE Deposit On-going Delineation Drilling Continues to Expand the DUKE Deposit
DUKE Deposit On-going Delineation Drilling Continues to Expand the DUKE Deposit 93 m of 0.29% CuEQ1 4 30 m of 0.47% CuEQ 29 m of 0.47% CuEQ within DUKE 38,39 41 208 m of 0.26% CuEQ Offset 40 12 126 m of 0.52% CuEQ within 542 m of 0.33% CuEQ 69 m of 0.28% CuEQ within 214 m of 37 0.24% CuEQ 35 309 m o
Slide 29: DUKE District
DUKE JOINT VENTURE DISTRICT DUKE District Comprehensive Exploration Surveys DUKE District Have Delineated Amarc / Boliden Multiple New Porphyry Cu-Au Targets Within DUKE Deposit 732 km2 DUKE District NAK American Eagle South 32/Teck Morrison Pacific Booker Hearne Amarc Bell Glencore Granisle Glencor
Slide 30: IKE District Situated for Success in South-Central BC with Key Mine Supporting Infrastructure
IKE District Situated for Success in South-Central BC with Key Mine Supporting Infrastructure One of the Most Prolifically Mineralized Regions in British Columbia 50 Kilometres Talisker Resources Cu Mo Deposit 1 (M Tonnes) (%) (%) Gibraltar G 1,109 0.24 0.007 New Prosperity B 1,010 0.24 - Valley I 8
Slide 31: IKE District
IKE DISTRICT Looking North Across IKE & Empress Deposits Interior Plateau Coast Range Buzzer Empress East Syndicate Battlement Empress Quinn Taylor -Windfall OMG Rowbottom Mewtwo IKE Mad Major IKE Mineralized System1 3.0 km Legend IKE Mineralized System Amarc Drill Hole Deposit Deposit Target 31 1.
Slide 32: IKE Deposit Cross Section Looking North Shows Extensive, Continuous Mineralization
IKE Deposit Cross Section Looking North Shows Extensive, Continuous Mineralization Cu & Mo Grade Distribution A A’ 400 Metres 32
Slide 33: Greater Empress
Greater Empress Higher Grade Drill Intercepts Indicate Significant Expansion Potential Gold Enrichment Along CPC Boundary W E Empress Empress Gap Empress East Target Zone Potential for Major Discovery Surface Volcanics Intrusives Coast Plutonic Complex Interpreted contact between volcanic rocks 500
Slide 34: IKE District is Next in the Pipeline for Development as Resources Become Available
IKE District is Next in the Pipeline for Development as Resources Become Available • 100% Owned IKE District captures one of the potentially most prolific mineral belts in BC, hosting both bulk tonnage Cu and higher grade Cu-Au deposits • Amarc has: Discovered the large-scale IKE Cu-Mo-Ag Deposit
Slide 35: Amarc Value Proposition
Amarc Value Proposition Major New AuRORA Discovery and Three High Demand BC Copper-Gold Districts New AuRORA High Grade Near Surface Porphyry Cu-Au Deposit Discovery Within Potential Emerging World Class JOY Cu-Au Porphyry District Substantial Drilling and District Development Underway • Amarc owns
Slide 36: Appendices
TSXV: AHR OTCQB: AXREF APPENDICES 36
Slide 37: Freeport-McMoRan Economic Returns of Porphyry Cu Deposits are Enhanced by Au Co-products
Freeport-McMoRan Economic Returns of Porphyry Cu Deposits are Enhanced by Au Co-products Sales From Mines for 3Q25 by Region 1 United States South America (2) Indonesia (3) 554 426 339 316 360 278 293 332 (1) (1) 19 19 Cu Mo Au mm lbs mm lbs 000’s ozs 3Q25 3Q24 3Q25 3Q24 3Q25 3Q24 3Q25 3Q24 3Q25 3Q2
Slide 38: AuRORA Deposit Step-Out Drilling: Section 8400 N
AuRORA Deposit Step-Out Drilling Continues to Discover More Open-Ended Mineralization West East Section 8400 N – AuRORA 120 Casing intact for re-entry Strong mineralization at bottom 200 m OPEN OPEN 38
Slide 39: AuRORA Deposit Step-Out Drilling: Section 8300 N
AuRORA Deposit Step-Out Drilling Continues to Discover More Open-Ended Mineralization West East Section 8300 N – AuRORA 119 Surface 200 m OPEN 39
Slide 40: AuRORA Deposit Step-Out Drilling: Section 8200 N
AuRORA Deposit Step-Out Drilling Continues to Discover More Open-Ended Mineralization West East Section 8200 N – AuRORA 103 109 OPEN OPEN 200 m 40
Slide 41: AuRORA Deposit Step-Out Drilling: Section 8100 N
AuRORA Deposit Step-Out Drilling Continues to Discover More Open-Ended Mineralization West East Section 8100 N – AuRORA 94 89 91 OPEN OPEN 200 m 41
Slide 42: AuRORA Deposit Step-Out Drilling: Section 7800 N
AuRORA Deposit Step-Out Drilling Continues to Discover More Open-Ended Mineralization West 102 East Section 7800 N – AuRORA 82 79 76 71 74 59 57 OPEN 311 m 200 m 42
Slide 43: AuRORA Deposit Step-Out Drilling: Section 7700 N
AuRORA Deposit Step-Out Drilling Continues to Discover More Open-Ended Mineralization West East Section 7700 N – AuRORA 118 87 80 96 71 81 OPEN OPEN 200 m 43
Slide 44: AuRORA Deposit Step-Out Drilling: Section 6900 N
AuRORA Deposit Step-Out Drilling Continues to Discover More Open-Ended Mineralization West East Section 6900 N – AuRORA 114 12 m of 0.0% Cu, 0.4 g/t Au, 0.6 g/t Ag OPEN 74 m of 0.05% Cu, 0.92 g/t Au, 0.6 g/t Ag OPEN 200 m OPEN 44
Slide 45: AuRORA Deposit Discovery Drilling Indicates an Important, New BC Copper-Gold Deposit
AuRORA Deposit Discovery Drilling Indicates an Important, New BC Copper-Gold Deposit 2024 - 2025 Drill Hole Results - Results Continue on Next Page Drill Int. 1,2,3 From To Au Cu Ag Drill Int. 1,2,3 From To Au Cu Ag Section Incl. Section Incl. Hole (m) (m) (m) (g/t) (%) (g/t) Hole (m) (m) (m) (g/t)
Slide 46: AuRORA Deposit Discovery Drilling Indicates an Important, New BC Copper-Gold Deposit
AuRORA Deposit Discovery Drilling Indicates an Important, New BC Copper-Gold Deposit 2024 - 2025 Drill Hole Results - Results Continue on Next Page Drill Int. 1,2,3 From To Au Cu Ag Drill Int. 1,2,3 From To Au Cu Ag Section Incl. Section Incl. Hole (m) (m) (m) (g/t) (%) (g/t) Hole (m) (m) (m) (g/t)
Slide 47: AuRORA Deposit Discovery Drilling Indicates an Important, New BC Copper-Gold Deposit
AuRORA Deposit Discovery Drilling Indicates an Important, New BC Copper-Gold Deposit 2024 - 2025 Drill Hole Results - Results Continue on Next Page Drill Int. 1,2,3 From To Au Cu Ag Drill Int. 1,2,3 From To Au Cu Ag Section Incl. Section Incl. Hole (m) (m) (m) (g/t) (%) (g/t) Hole (m) (m) (m) (g/t)
Slide 48: AuRORA Deposit Discovery Drilling Indicates an Important, New BC Copper-Gold Deposit
AuRORA Deposit Discovery Drilling Indicates an Important, New BC Copper-Gold Deposit 2024 - 2025 Drill Hole Results Drill Int. 1,2,3 From To Au Cu Ag Drill Int. 1,2,3 From To Au Cu Ag Section Incl. Section Incl. Hole (m) (m) (m) (g/t) (%) (g/t) Hole (m) (m) (m) (g/t) (%) (g/t) JP25087 165.00 78.00 2
Slide 49: AuRORA Deposit Discovery Continuous High Grade Cu-Au-Ag Mineralization
AuRORA Deposit Discovery Continuous High Grade Cu-Au-Ag Mineralization Drill Hole JP24075 - Results Continue on Next Page Int. 1,2,3 (m) From (m) To (m) Au (g/t) Cu (%) Ag (g/t) 2.30 36.70 39.00 3.07 0.58 5.0 2.00 39.00 41.00 3.90 0.60 5.8 3.00 41.00 44.00 4.35 0.72 6.1 3.00 44.00 47.00 3.07 0.52 7.
Slide 50: AuRORA Deposit Discovery Continuous High Grade Cu-Au-Ag Mineralization
AuRORA Deposit Discovery Continuous High Grade Cu-Au-Ag Mineralization Drill Hole JP24075 - Results Continue on Next Page Int. 1,2,3 (m) From (m) To (m) Au (g/t) Cu (%) Ag (g/t) 2.85 79.15 82.00 3.38 0.61 6.9 2.00 82.00 84.00 3.01 0.48 5.3 2.00 84.00 86.00 1.63 0.31 3.7 3.00 86.00 89.00 1.15 0.38 3.
Slide 51: AuRORA Deposit Discovery Continuous High Grade Cu-Au-Ag Mineralization
AuRORA Deposit Discovery Continuous High Grade Cu-Au-Ag Mineralization Hole JP24075 Int. 1,2,3 (m) From (m) To (m) Au (g/t) Cu (%) Ag (g/t) 3.00 125.00 128.00 2.18 0.63 4.8 3.00 128.00 131.00 1.41 0.41 3.2 3.00 131.00 134.00 2.69 0.57 5.8 3.00 134.00 137.00 1.43 0.49 3.7 3.00 137.00 140.00 1.00 0.37
Slide 52: Empress Deposit Historical and Amarc Drilling Indicates Gold Enriched Deposit Targets
Empress Deposit Historical and Amarc Drilling Indicates Gold Enriched Deposit Targets Gold Enrichment Along CPC Boundary Volcanic Rocks Northern Boundary of Coast Plutonic Complex (CPC) Intrusive Rocks 3 Kilometres 52
Slide 53: IKE Deposit Drilling Indicates an Important, New BC Porphyry Copper Deposit
IKE Deposit Drilling Indicates an Important, New BC Porphyry Copper Deposit Selected Drill Hole Results Drill Hole From (m) To (m) Int. (m)1 Cu (%) Ag (g/t) Mo (%) CuEQ (%)4 269.4 325.4 56.0 0.31 1.6 0.064 0.55 339.1 426.2 87.1 0.36 0.7 0.054 0.56 IK14005 Incl. 341.7 378.6 36.9 0.43 1.2 0.068 0.69 4
Slide 54: Empress Deposit Drilling Indicates an Important, New BC Copper-Gold Deposit
Empress Deposit Drilling Indicates an Important, New BC Copper-Gold Deposit Selected 2024 Drill Hole Results Deposit Drill Hole Incl. From (m) To (m) Int. 1,2,3 (m) CuEQ4 (%) Au (g/t) Cu (%) Ag (g/t) EM24074 6.00 24.00 18.00 0.23 0.14 0.15 0.6 30.00 210.50 180.50 0.46 0.31 0.29 0.8 Incl. 72.00 210.5
Slide 55: North America's Heartland for Copper-Gold Porphyries
North America’s Heartland for Copper-Gold Porphyries Resources at Select BC Porphyry Copper Mines, Past Producers & Projects1 Name Category Million Tonnes Cu % Au g/t Mo % Ag g/t Red Chris A Indicated 670 0.41 0.38 Measured 425.7 0.44 0.29 4.1 GaloreO Indicated 771.2 0.47 0.22 4.8 Measured 547 0.27
Slide 56: North America's Heartland for Cu-Au Porphyries & Related Deposits
North America’s Heartland for Cu-Au Porphyries & Related Deposits Resources at Toodoggone Porphyry & Epithermal Projects Deposit Category k Tonnes Au (g/t) Cu (%) Ag (g/t) AuEQ Cont Au (koz) Cont Cu (klb) Cont Ag (koz) AuEQ (koz) Indicated Main OP 170,513 0.30 0.15 1.12 1,668 575 6,155 Indicated Sou
Slide 57: References for BC Porphyry Copper & Related Deposits - Mines & Projects
North America’s Heartland for Copper-Gold Porphyries References for BC Porphyry Copper & Related Deposits - Mines & Projects A. Red Chris Mine Total Indicated Resources - includes OP 200 Mt at 0.28 g/t Au, 0.34% Cu at 12.20/t milled cutoff & UG 470 Mt at 0.41 g/t Au, 0.38% Cu at 21.00/t milled cutof
Slide 58: Amarc's Responsible Mineral Development Policy
“We operate in a responsible manner so that our activities protect the Health and Safety of our employees and contractors, and of the communities in which we work.” AMARC’S RESPONSIBLE MINERAL DEVELOPMENT POLICY 14th Floor, 1040 W. Georgia Street TSXV: AHR OTCQB: AXREF Vancouver, BC Canada V6E 4H1 a