Slide 1: An Important New Copper-Molybdenum-Silver Discovery
Amarc Resources Ltd. IKE – British Columbia An Important New Copper-Molybdenum-Silver Discovery The Value Creation Cycle Begins September 2016
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 drilling, exploitation activities and other related events or de
Slide 3: Amarc – An Important New Discovery – Value Creation Begins
Amarc – An Important New Discovery – Value Creation Begins Amarc has discovered IKE a major new bulk tonnage copper-molybdenum-silver deposit, in south- central British Columbia Eighteen drill holes (510,437 metres) drilled in 2014/15 have confirmed the growing importance of IKE All drill holes
Slide 4: Assay Results from the Holes Drilled in 2014/2015 Indicate Important Resource Volumes
IKE – Assay Results from the 18 Holes Drilled in 2014/2015 Indicate Important Resource Volumes Plan View of 2014/2015 Discovery Drill Holes OPEN OPEN OPEN 1,000 Metres 2014: 9 Holes 5,409 Metres 2015: 9 Holes 5,028 Metres 1,200 Metres OPEN 4
Slide 5: Drill Results Indicate IKE will be an Important BC Porphyry Deposit
IKE – Drill Results Indicate IKE will be an Important BC Porphyry Deposit Selected Assay Intervals 2014/2015 Drill Holes Drill Hole Interval1,2 (m) CuEQ3 (%) Cu (%) Mo (%) Ag (g/t) 14001 247 0.41 0.28 0.030 2.0 14002 123 0.41 0.32 0.017 2.5 14003 92 0.40 0.31 0.020 2.1 14005 194 0.47 0.30 0.046 0.8
Slide 6: BC Porphyry Copper Mines and Projects
BC Porphyry Copper Mines and Projects Infrastructure! Infrastructure! Infrastructure! 6
Slide 7: BC Porphyry Copper Mines have CuEQ Grades Ranging from 0.32% – 0.57%
BC Porphyry Copper Mines have CuEQ Grades Ranging from 0.32% – 0.57% RESOURCES AND RESERVES AT SELECTED BC MINES AND PROJECTS Name Million tonnes Cu % Mo % Au g/t Ag g/t CuEQ%1 Red ChrisA 288 0.37 - 0.28 - 0.57 New ProsperityB 831 0.23 - 0.41 - 0.52 C Mt. Polley 87 0.29 - 0.30 0.4 0.51 MorrisonD 267
Slide 8: Amarc – Low Market Capitalization
Amarc – Low Market Capitalization Listed TSXV: AHR OTCBB: AXREF Shares Issued 142 million Management Owns ~19% Working Capital $1 million An HDI Associated Company 8
Slide 9: Amarc – An Important New Discovery – Value Creation Begins
Amarc – An Important New Discovery – Value Creation Begins A comprehensive corporate and technical business plan is being implemented to progress IKE efficiently forward and up the value creation curve with minimum dilution to shareholders’ equity Amarc has engaged meaningfully and is committed
Slide 10: Location and Infrastructure
IKE – Location and Infrastructure 50 Kilometres 10
Slide 11: Project is Located Kilometres Northwest of Gold Bridge
IKE – Project is Located 44 Kilometres Northwest of Gold Bridge Resource Development Operations Provide Access into IKE Region Looking Westerly IKE Logging Operations Downton Lake BC Hydro Lajoie Dam Gold Bridge Source: Google 11
Slide 12: Located Near Major Power Infrastructure
IKE – Located Near Major Power Infrastructure Lajoie: up to 25 MW 12
Slide 13: HDI – A Leading Explorer, Developer & Operator in BC
HDI – A Leading Explorer, Developer & Operator in BC Hunter Dickinson Inc. has been successfully exploring, developing and operating mines in BC for over 30 years Legacy Projects Golden Bear Mine Mt. Milligan Mine Kemess Mine Amarc Resources Ltd. IKE Project Newton Project Constantia
Slide 14: HDI Aboriginal Agreements
HDI Aboriginal Agreements Golden Bear, an HDI legacy project, was the first project in Canada to sign an IBA Since 2011, 14 Agreements have been signed between Aboriginal groups and HDI companies across Canada for projects at various stages of development SKI KM LAX HA NATION Brigade ST. MARY’S
Slide 15: Comprehensive Approach to Engagement
IKE – Comprehensive Approach to Engagement Committed to meaningful engagement and building positive relationships with Aboriginal groups in our project area Explore potential partnerships and where appropriate negotiate agreements Engage and work with local communities Build broad-based comm
Slide 16: Outside of Tsilhqot’in Proven Title Area
IKE – Outside of Tsilhqot’in Proven Title Area Drill Permit located 50 km outside of Title Area 16
Slide 17: Aboriginal Considerations
IKE – Aboriginal Considerations Amarc has completed comprehensive ethnohistorical research to inform its approach to Aboriginal engagement Several Aboriginal groups have overlapping interests in the IKE area One of the Aboriginal groups, the Tsilhqot’in Nation (TN), has expressed some concerns
Slide 18: IKE – Important Porphyry Cu-Mo-Ag System
IKE – Looking East Across Historical Drill Program Cat Roads at Discovery IKE Important Porphyry Cu-Mo-Ag System Source: Google 18
Slide 19: Key Historical Holes Indicated Extensive Mineralized Porphyry System
IKE – 3 Key Historical Holes Indicated Extensive Mineralized Porphyry System Looking Easterly Hole 11-1 Hole 81-2 Hole 11-2 3 Key Historical Drill Holes 19
Slide 20: Three Key Historical Drill Holes Intercepted Significant Cu-Mo-Ag Mineralization
IKE – Three Key Historical Drill Holes Intercepted Significant Cu-Mo-Ag Mineralization Looking Easterly NORTH SOUTH OPEN OPEN OPEN 200 Metres 1. Historical copper equivalent (CuEQ) calculations use metal prices of: Cu US$3.00/lb, Mo US$12.00/lb and Ag US$20.00/oz. Metallurgical recoveries and net sm
Slide 21: Looking Northwesterly Over IKE
IKE – Looking Northwesterly Over IKE Hole 14006 Hole 14004 21
Slide 22: Widely-spaced 2014/2015 Drill Holes Confirm Extensive Mineral System
IKE – Widely-spaced 2014/2015 Drill Holes Confirm Extensive Mineral System 2014/2015 Drill Hole Plan OPEN Hole 14006 Hole 14004 North Cirque WEST EAST OPEN OPEN VIEW VIEW South Cirque 400 Metres OPEN 22
Slide 23: Assay Results from the Holes Drilled in 2014/2015 Indicate Important Resource Volumes
IKE – Assay Results from the 18 Holes Drilled in 2014/2015 Indicate Important Resource Volumes 2014/2015 Discovery Drill Holes Plan View 400 Metres 23
Slide 24: Looking Northeasterly Over IKE
IKE – Looking Northeasterly Over IKE C’ A’ Hole 15012 Hole 15017 North Cirque Hole 15013 C South Cirque A 24
Slide 25: Long, Continuously Mineralized Intersections
IKE – Long, Continuously Mineralized Intersections Assay Results 2014/2015 Drill Holes Drill Hole Incl. From (m) To (m) Interval1,2 (m) CuEQ3 (%) Cu (%) Mo (%) Ag (g/t) 55.0 213.7 158.7 0.37 0.27 0.020 2.5 242.0 489.0 247.0 0.41 0.28 0.030 2.0 incl. 242.0 275.0 33.0 0.43 0.35 0.011 4.1 14001 incl. 2
Slide 26: Long, Continuously Mineralized Intersections
IKE – Long, Continuously Mineralized Intersections Assay Results 2014/2015 Drill Holes Drill Hole Incl. From (m) To (m) Interval1,2 (m) CuEQ3 (%) Cu (%) Mo (%) Ag (g/t) 14004 128.0 189.0 61.0 0.27 0.13 0.036 0.9 32.0 80.0 48.0 0.27 0.23 0.007 1.4 269.4 552.3 282.9 0.43 0.29 0.038 0.7 14005 incl. 269
Slide 27: Long, Continuously Mineralized Intersections
IKE – Long, Continuously Mineralized Intersections Assay Results 2014/2015 Drill Holes Drill Hole Incl. From (m) To (m) Interval1,2 (m) CuEQ3 (%) Cu (%) Mo (%) Ag (g/t) 7.9 24.9 17.0 0.30 0.22 0.020 1.1 139.5 167.0 27.5 0.24 0.06 0.051 0.5 14007 223.0 274.0 51.0 0.22 0.05 0.048 0.5 304.0 411.9 107.9
Slide 28: Long, Continuously Mineralized Intersections
IKE – Long, Continuously Mineralized Intersections Assay Results 2014/2015 Drill Holes Drill Hole Incl. From (m) To (m) Interval1,2 (m) CuEQ3 (%) Cu (%) Mo (%) Ag (g/t) 207.0 417.0 210.0 0.40 0.30 0.018 2.9 incl. 207.0 268.0 61.0 0.40 0.31 0.016 2.9 incl. 293.0 417.0 124.0 0.45 0.34 0.022 3.2 15010
Slide 29: Long, Continuously Mineralized Intersections
IKE – Long, Continuously Mineralized Intersections Assay Results 2014/2015 Drill Holes Drill Hole Incl. From (m) To (m) Interval1,2 (m) CuEQ3 (%) Cu (%) Mo (%) Ag (g/t) 15014 249.7 335.2 85.5 0.47 0.33 0.032 2.2 312.3 420.3 108.0 0.41 0.15 0.067 1.5 15015 incl. 312.3 378.3 66.0 0.51 0.19 0.085 1.9 2
Slide 30: Cross Section A-A’, Looking North
IKE – Cross Section A-A’, Looking North Cu and Mo Grades A A’ Ridge 30
Slide 31: Cross Section A-A’, Looking North
IKE – Cross Section A-A’, Looking North CuEQ Grades A A’ CuEQ1 Ridge CuEQ % 0.20 1. Copper equivalent calculations use metal prices of: Cu US$2.25/lb, Mo US$8.00/lb and Ag US$17.00/oz. Metallurgical recoveries and net smelter returns are assumed to be 100%. 31
Slide 32: Cross Section B-B’, Looking East
IKE – Cross Section B-B’, Looking East Cu and Mo Grades B Ridge B’ 32
Slide 33: Cross Section B-B’, Looking East
IKE – Cross Section B-B’, Looking East CuEQ Grades B Ridge B’ CuEQ1 CuEQ % 0.20 1. Copper equivalent calculations use metal prices of: Cu US$2.25/lb, Mo US$8.00/lb and Ag US$17.00/oz. Metallurgical recoveries and net smelter returns are assumed to be 100%. 33
Slide 34: Cross Section C-C’, Looking North
IKE – Cross Section C-C’, Looking North Cu and Mo Grades C C’ 34
Slide 35: Cross Section C-C’, Looking North
IKE – Cross Section C-C’, Looking North CuEQ Grades C C’ CuEQ1 CuEQ % 0.20 1. Copper equivalent calculations use metal prices of: Cu US$2.25/lb, Mo US$8.00/lb and Ag US$17.00/oz. Metallurgical recoveries and net smelter returns are assumed to be 100%. 35
Slide 36: Historical Airborne ZTEM Indicates Extensive Rock Alteration
IKE – Historical Airborne ZTEM Indicates Extensive Rock Alteration 1 Kilometre 36
Slide 37: New Airborne Magnetic Survey Indicates Important Size Porphyry System
IKE – New Airborne Magnetic Survey Indicates Important Size Porphyry System IKE Porphyry System Magnetite Destruction Zones Magnetite Destruction Zone 1 Kilometre 37
Slide 38: New IP Survey Indicates Mineralization Open to Important Expansion
IKE – New IP Survey Indicates Mineralization Open to Important Expansion IKE Porphyry System Magnetite Destruction Zones Magnetite Destruction Zone 1 Kilometre 38
Slide 39: 3D Modelled IP Sections Indicate Important Mineralized System
IKE – 3D Modelled IP Sections Indicate Important Mineralized System Ridge OPEN North Cirque WEST EAST 1 Kilometre South Cirque OPEN 39
Slide 40: Talus Fines Sampling Confirms Widespread Mineralization – Copper
IKE – Talus Fines Sampling Confirms Widespread Mineralization Copper IKE Porphyry System North Cirque East Cirque South Cirque C’ Hole 15012 A’ Hole 15017 North Cirque C Hole 15013 South Cirque A 40
Slide 41: Talus Fines Sampling Confirms Widespread Mineralization – Molybdenum
IKE – Talus Fines Sampling Confirms Widespread Mineralization Molybdenum IKE Porphyry System North Cirque East Cirque South Cirque C’ Hole 15012 A’ Hole 15017 North Cirque C Hole 15013 South Cirque A 41
Slide 42: Characteristics of Cu and Mo Mineralization Indicate Standard Low Cost Processing Likely
IKE – Characteristics of Cu and Mo Mineralization Indicate Standard Low Cost Processing Likely Dyke Chalcopyrite Molybdenite Chalcopyrite Chalcopyrite Most chalcopyrite-molybdenite mineralization is disseminated throughout the intrusions with lesser amounts associated with fractures and veins Ch
Slide 43: Amarc has Acquired Mineral Tenures Over the Entire District
Amarc has Acquired Mineral Tenures Over the Entire District 10 Kilometres 43
Slide 44: Amarc has Negotiated Favourable Property Acquisition Deals
Amarc has Negotiated Favourable Property Acquisition Deals Amarc has acquired a 100% interest in IKE by: Making $205,000 in cash payments, issuing 300,000 shares and completing ~$1.86 million in exploration expenditures Amarc purchased a 100% interest in the adjacent Granite property by: Mak
Slide 45: Amarc has Partnered IKE with Thompson Creek
IKE – Amarc has Completed a Solid Development Funding Deal with Thompson Creek Metals Company Inc. Amarc has Partnered IKE with Thompson Creek Stage 1 Option: Thompson Creek can earn an initial 30% interest in the IKE by: Funding $15 million before December 31, 2019 with $3 million expended in 2
Slide 46: Data From Historical Field Surveys Helps Focus on Nearby Targets
Data From Historical Field Surveys Helps Focus on Nearby Targets Empress IP Chargeability (1969) Syndicate Buzzer OMG Rowbottom IP Chargeability (1970) IP Chargeability (1964) 2 Kilometres IKE Mad Major IP Chargeability (2014) Historical Copper Soil Geochem (1981) Historical drilling, induced polari
Slide 47: IKE and Mad Major Copper-in-Talus Fines and Soil Results
IKE and Mad Major Copper-in-Talus Fines and Soil Results Identify Strongly Anomalous Targets Copper IP Chargeability Buzzer (1969) Rowbottom OMG IP Chargeability (1970) IP Chargeability (1964) IKE K K Mad Major 2 Kilometres 47
Slide 48: IKE and Mad Major Molybdenum-in-Talus Fines and Soil Results
IKE and Mad Major Molybdenum-in-Talus Fines and Soil Results Identify Strongly Anomalous Targets Molybdenum IP Chargeability Buzzer (1969) Rowbottom OMG IP Chargeability (1970) IP Chargeability (1964) IKE K K Mad Major 2 Kilometres 48
Slide 49: Mad Major/OMG – Delineating Targets for Drill Testing
Mad Major/OMG – Mapping, Geochemical + Geophysical Surveys Delineating Targets for Drill Testing Looking Northeasterly 49
Slide 50: Historical Field Surveys Help Focus on Nearby Targets
Historical Field Surveys Help Focus on Nearby Targets Empress IP Chargeability (1969) Syndicate Buzzer OMG Rowbottom IP Chargeability (1970) IP Chargeability (1964) 2 Kilometres IKE Mad Major IP Chargeability (2014) Historical Copper Soil Talus fine results, historical drilling, induced polarization
Slide 51: Buzzer – Important Scale Historical IP Anomaly Indicates Cu-Au Porphyry Drill Target
Buzzer – Important Scale Historical IP Anomaly Indicates Cu-Au Porphyry Drill Target IP Chargeability (1969) Taylor Windfall Empress 1 Historical Resource: ~10 Mt @ 0.61% Cu & 0.79% g/t Au Buzzer Rowbottom 1 Kilometre 1 A historical estimate of about 10 million tonnes grading 0.61 Cu and 0.79 g/t Au
Slide 52: Buzzer – Mineralization Intercepted by Historical Drilling
Buzzer – Mineralization Intercepted by Historical Drilling Buzzer Copper-Gold-Silver-Molybdenum Porphyry Target Hole Length (m) Dip Azi Incl. Interval CuEQ 1 Cu % Au g/t Ag g/t Mo % Year DDH-1 170.7 26 -60 61.57 0.22 0.17 n/a n/a 0.013 1964 DDH-2 167.7 62 -64 83.21 0.31 0.24 n/a n/a 0.020 1964 DDH-3
Slide 53: Rowbottom – Historical Drilling Indicates Strong Potential for a Porphyry Deposit
Rowbottom – Historical Drilling Indicates Strong Potential for a Porphyry Cu-Au-Ag-Mo Deposit Hole Depth Interval Width2 Cu Mo CuEQ1 Historical Drill Holes Number (ft) (ft) (ft) (%) (%) (%) S-20 200’ 50-120’ 70’ 0.22 0.008 0.25 Well Mineralized S-213 200’ 140-150’ 10’ 0.21 0.019 0.28 Mineralized Emp
Slide 54: 2014/2015 Programs have Demonstrated Important Scale Potential at IKE
Amarc – 2014/2015 Programs have Demonstrated Important Scale Potential at IKE – Value Creation Begins Eighteen core holes have discovered a new, important bulk tonnage copper- molybdenum-silver porphyry deposit at IKE in south-central British Columbia Comprehensive new airborne magnetic and geol
Slide 55: Team is Focused on Moving IKE Forward – Value Creation Lifecycle
Amarc – Team is Focused on Moving IKE Forward and is Fully Committed to Create Value for Shareholders and Stakeholders Schematic Value Creation Lifecycle of a Mining Share 55
Slide 56: Contact Information
Contact Information “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 Investor Relations 15th Floor Phone: 604-684-6365 1040 West Georgia
Slide 57: Appendices
Appendices by/
Slide 58: Reserves/Resources for Some Global Operating Copper-Molybdenum-Silver Mines
Reserves/Resources for Some Global Operating Copper-Molybdenum-Silver Mines Reserves @ January 1, 2014 Mine Location Operator Mill (TPD) M Tonnes Cu (%) Mo (%) Au (g/t) Ag (g/t) Constancia Peru HudBay Minerals 81,900 Proven 483 0.32 0.009 0.040 3.0 Probable 94 0.22 0.006 0.036 2.8 Pampacancha Peru H
Slide 59: New District-Wide Airborne Magnetic Survey has Outlined a Number of Compelling Targets
New District-Wide Airborne Magnetic Survey has Outlined a Number of Compelling Targets ? 10 Kilometres 59
Slide 60: Regional Geology of the IKE Mineral Claim Holdings
Regional Geology of the IKE Mineral Claim Holdings 60
Slide 61: IKE and Mad Major Tungsten-in-Talus Fines and Soil Results
IKE and Mad Major Tungsten-in-Talus Fines and Soil Results Identify Strongly Anomalous Targets Tungsten IP Chargeability Buzzer (1969) Rowbottom OMG IP Chargeability (1970) IP Chargeability (1964) IKE K K Mad Major 2 Kilometres 61
Slide 62: Mad Major – Compelling Historical Copper-in-Soil Anomaly
Mad Major – Compelling Historical Copper-in-Soil Anomaly OPEN OPEN OPEN 1. Copper equivalent calculations use metal prices of: Cu US$2.25/lb, Mo US$8.00/lb and Ag US$17.00/oz. Metallurgical recoveries and net smelter returns are assumed to be 100%. 62
Slide 63: Early Halo Veins and their Exploration Implications
IKE – Early Halo Veins and their Exploration Implications Chalcopyrite Early Halo Veins (quartz-muscovite-pyrite-chalcopyrite veins with minor biotite and/or K- feldspar in their halos) have been identified in the IKE host rocks The vein halos commonly contain abundant disseminated chalcopyrite
Slide 64: References
References A. Greg Gillstrom P.Eng., Raj Anand, M.Eng. P.Eng., Steve Robertson, P.Geo., “2012 Technical Report on the Red Chris Copper-Gold Project”, February 14, 2012 B. Scott Jones, P.Eng., “Technical Report on the 344 million tonne Increase in Mineral Reserves at the Prosperity Gold-Copper Projec