JV Agreement to Explore Galaxie and ZNT Properties

VANCOUVER, BC - Amarc Resources Ltd. received regulatory approval in relation to a Letter Agreement ("Letter Agreement") with Quartz Mountain Resources Ltd. ('Quartz Mountain"), on Quartz Mountain's 100%-owned Galaxie and ZNT properties ("Properties") located in British Columbia ("BC"), which hold significant exploration potential.

Under the terms of the Letter Agreement, Amarc can acquire up to a 50% ownership interest in the Properties upon making a cash payment and funding exploration expenditures. This strategic investment provides Amarc with a cost effective opportunity to participate in projects with strong base and precious metal drill targets.

The Galaxie Project hosts the Gnat porphyry copper deposit where an historical estimate of an "Indicated Reserve" of 30 million tonnes grading 0.39% copper was reported in 1972. The deposit remains open to expansion. A targeted drilling program has commenced to test newly identified potential extensions to the Gnat system.

Data is still being received from aggressive exploration programs completed earlier this year at other targets on Galaxie and ZNT, which included prospecting, grid soil geochemical and Induced Polarization ground geophysical surveys. Once all the data has been compiled and reviewed drill targets will be defined.