Company: AXREF
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001654954-25-008549
Chunk: 9

Company: AMARC RESOURCES LTD
Filing Date: 2025-07-28
Form: 20-F
Item: Item 4
Chunk 9
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, Cu± Au± Mo± Ag deposits and has the potential to become an important mining camp.

The 2024 program focused on the potential of the historical Empress Cu-Au Deposit, where drilling by previous companies of the replacement style mineralization encountered encouraging Cu and Au grades. Amarc invested approximately $2.9 million on the 2024 program. Key results are provided under IKE District - Recent Work - 2024 Program, with further details in the Company’s May 14, 2025 release.

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JOY District

Location and Infrastructure

The JOY District is located in the Omineca Mining Division, approximately 310 km north of Mackenzie and 265 km north-northeast of Smithers in northern BC. The area of work is centred approximately at 57º 12’ N Latitude and 126º 43’ W Longitude; or UTM Zone 9 (NAD 83) at 6,343,500 m N and 638,500 m E. Figure 2 shows the location of the JOY District and infrastructure within the region.

Figure 2

Property Description

Amarc owns 40% interest in and is the manager of the JOY District. The project, as shown in Figure 3, comprises (1) the JOY, PINE and Paula properties acquired from other companies (as described below), and claims staked by Amarc totaling 125 mineral claims, covering an area of 54,332 hectares (134,257 acres) with an expiry date of January 1, 2036; and (2) properties held under option agreements with other companies. The latter properties include 22 mineral claims (44.5 hectares/109.96 acres; expiry date May 2028) comprising the Brenda Property held under option by Amarc (see Brenda Property Option below) from Canasil Resources Inc., and a portion (42.34 hectares/104.62 acres) of the mineral claims (expiry dates of November 2032, and February and November 2034) comprising the PIL Property held under option by Freeport from Finlay Minerals Ltd., which lie within the area of interest as defined by the JOY Agreement (see further details under PIL Property below).

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Figure 3

On November 21, 2017, Amarc acquired 100% interest in the 7,200 hectare JOY property from United Minerals Services Ltd., a