JOY Cu-Au District

Amarc's porphyry copper-gold exploration district in northern British Columbia, the site of the 2024 discovery of the high-grade, gold-rich AuRORA Cu-Au-Ag porphyry deposit, which exhibits excellent lateral and vertical continuity from near surface and remains open to expansion (mineralization now intercepted over a ~1.4 km area). Additional targets include the TWINS Cu-Au target (a 7 km2 IP chargeability anomaly), the Canyon Discovery (2022) and the historical PINE Deposit. A 2025 drill program of 15,381 m in 35 holes (24 holes / 9,687 m at AuRORA) was completed in October 2025, primarily to expand AuRORA. The district is advanced under an earn-in agreement with Freeport-McMoRan Mineral Properties Canada Inc., with Amarc as operator. No current mineral resource estimate is disclosed.