Amarc has employed a highly effective targeting strategy that synthesizes extensive historical data with results from its own, modern geological investigations. This proven scientific process has defined 7 large (1 to 8 km²), high potential porphyry Cu-Au exploration target areas at JOY, most of which host multiple targets.

The JOY District hosts five drill-ready, deposit-scale porphyry Cu-Au targets occur along mainly NE trends at JOY (including the Canyon and Twins along the 14 km PINE trend, and the MEX Trend). Exploration work in 2023 revealed new drill-ready targets across the JOY District, including the NWT target along a trend extending NW from the SWT target. The NWT target hosts the new AuRORA Deposit discovered in 2024 and has additional untested potential. Together, these trends indicate the potential for a major cluster of Cu-Au mineralized porphyry systems at JOY.

See below for additional details on Canyon, Twins and the MEX Cluster are provided below.

Canyon Discovery – New Porphyry Cu-Au System

Canyon Discovery Validates Systematic Exploration Strategy

Canyon Discovery: 2024 Drilling Further Expands Cu-Au Mineralization - Mineralization Remains Wide Open to Expansion

Twins Discovery: Amarc's Third Porphyry Cu-Au Discovery in the Emerging JOY District - Au-Cu Mineralization Wide Open to Expansion

• Located - 3 km SW of the PINE Deposit
• Exploration - coincident IP chargeability and magnetic airborne geophysical anomalies, permissive structural intersections with peripheral historical drill holes returning Cu and Au values indicative of the outer regions of a porphyry system
• Opportunity - Canyon Discovery remains open to expansion; it and hosting 5 km² IP anomaly require substantial drilling
• A single scout hole (JP21006) drilled in 2021 intersected 27 m of porphyry style mineralization grading 0.18% CuEQ^[1] (0.06% Cu, 0.21 g/t Au and 0.7 g/t Ag), indicating a peripheral location to a porphyry Cu-Au system
• Additional reconnaissance drilling in 2022 discovered a significant new zone of porphyry Cu-Au mineralization with hole JP22030 intersecting:
  • 96 m of 0.51% CuEQ (0.39% Cu, 0.18 g/t Au and 2.6 g/t Ag), within
  • 296 m of 0.39% CuEQ (0.30% Cu, 0.14 g/t Au and 1.7 g/t Ag)
  • 10.5 m of 0.77% CuEQ (0.61% Cu, 0.25 g/t Au, 2.1 g/t Ag)
• In 2024, drill hole JP24046 stepped out 250 m to the east-northeast from JP22030, successfully extending the mineralization to depth and intercepting:
  • 402.00 m of 0.22% CuEQ with 0.16% Cu, 0.09 g/t Au and 1.2 g/t Ag, including
  • 51.00 m of 0.44% CuEQ with 0.32% Cu, 0.18 g/t Au and 1.8 g/t Ag.

Twins Discovery: New Porphyry Cu-Au System

• Located southwest of Canyon
• Exploration - IP chargeability surveys have outlined a sulphide system that envelopes a number of magnetic highs that extend over an area of 7 km² that is open to further expansion to the south and east, and centered on an outcrop of moderate to strongly altered monzonite intrusive that locally hosts porphyry-style chalcopyrite-bearing veinlets
• Opportunity - Twins Discovery remains open to expansion: additional drilling is required to determine the extent and nature of the Twins Discovery and to further explore the extensive, high potential Twins Target.
• Amarc’s scout exploration hole (JP21004), the first ever drilled into Twins, successfully discovered porphyry-type Cu-Au mineralization intercepting:
  • 63 m of 0.18% CuEQ^[1] (0.09% Cu, 0.15 g/t Au and 0.5 g/t Ag), including 39 m of 0.22% CuEQ (0.11% Cu, 0.19 g/t Au and 0.6 g/t Ag)
• In 2022, drilling intercepted intervals of porphyry Cu-Au mineralization including:
  • 27 m of 0.29% CuEQ (0.12% Cu, 0.30 g/t Au, 1.2 g/t Ag) in JP22019 and
  • 204 m of 0.11% CuEQ (0.04% Cu, 0.14 g/t Au, 0.4 g/t Ag) in JP22020
• In 2024, discovery hole JP24051 drilled 187 m northeast on the same section as JP22020 returned:
  • 96 m of 0.25% CuEQ with 0.27 g/t Au, 0.09% Cu and 0.5 g/t Ag from 345 m, and
  • 124 m of 0.33% CuEQ with 0.35 g/t Au, 0.13% Cu and 0.6 g/t Ag from 491 m.

MEX Deposit Cluster

• Located - includes MEX deposit target and mineralized systems to south
• Exploration - multiple coincident soil geochemical, IP chargeability and airborne magnetics geophysical surveys, and geological sericite-chlorite alteration anomalies
• Opportunity - clear potential with drilling to discover additional PINE-style mineralization

MEX Deposit Target Highlights

• Situated 3 km E of the PINE Deposit
• Widely-spaced historical drilling indicates the mineralized system remains open both laterally under shallow cover and to depth
• Intercept from initial drilling in 2021 (JP21002) include:
  • 18 m of 0.24% CuEQ @ 0.16% Cu, 0.13 g/t Au, 1.0 g/t Ag and
  • 18 m or 0.26% CuEQ @ 0.12% Cu, 0.25 g/t Au, 1.2 g/t Ag
• Historical intercepts (from Hole M05-01) include:
  • 30 m of 0.47% CuEQ^[1] @ 0.06% Cu, 0.72 g/t Au, 1.5 g/t Ag and
  • 32 m of 0.42% CuEQ @ 0.17% Cu, 0.41g/t Au, 2.7 g/t Ag