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Amarc Completes $2.77 Million Financings

Press Release

VANCOUVER, BRITISH COLUMBIA – Amarc Resources Ltd. (TSXV: AHR; OTCQB: AXREF) (“Amarc” or the “Company”) is pleased to announce that it has completed the two concurrent private financings described in its November 23, 2023 news release, raising aggregate proceeds of $2.77 million. Amarc issued 25,000,000 common shares and 4,807,693 five-year share purchase warrants exercisable at $0.08 per common share; 15,384,615 of the shares were issued at $0.13 as Flow-Through shares (“FT”) and 9,615,385 of the shares were issued as part of non-FT units (with each non-FT unit consisting of one common share and one-half of one warrant) at the price of $0.08 per non-FT unit for proceeds of $769,231. The related information about the new insider resulting from these financings referenced in the November 23, 2023 news release remains correct. All these securities have a 4-month hold period in Canada and no commissions were paid in connection with the financings.

The Company intends to use the net proceeds of the FT Shares exclusively for exploration of Amarc’s portfolio of British Columbia copper-gold projects while the proceeds of the non-FT units will be used for general working capital.

For further details on Amarc Resources Ltd., please visit the Company’s website at 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: AHR@kincommunications.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF AMARC RESOURCES LTD.

Dr. Diane Nicolson
President and CEO

IBF4

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