Amarc Resources Ltd.

08/27/2026 | Press release | Distributed by Public on 08/27/2026 09:30

AMARC RESOURCES LTD. MANAGEMENT’S DISCUSSION AND ANALYSIS FOR THE THREE MONTHS ENDED JUNE 30, 2026 (Form 6-K)

AMARC RESOURCES LTD.

MANAGEMENT'S DISCUSSION AND ANALYSIS

FOR THE THREE MONTHS ENDED JUNE 30, 2026

As of August 25, 2026

AMARC RESOURCES LTD.

MANAGEMENT'S DISCUSSION AND ANALYSIS

FOR THE THREE MONTHS ENDED JUNE 30, 2026

DATE

3

DESCRIPTION OF THE BUSINESS

4

RECENT AND CURRENT QUARTER HIGHLIGHTS

4

MINERAL PROPERTIES

6

MARKET TRENDS

16

RESULTS OF OPERATIONS

17

LIQUIDITY

19

CAPITAL RESOURCES

19

COMMITMENTS AND FINANICAL OBLIGATIONS

20

OFF-BALANCE SHEET ARRANGEMENTS

20

TRANSACTIONS WITH RELATED PARTIES

20

PROPOSED TRANSACTIONS

21

CHANGES IN ACCOUNTING POLICIES INCLUDING INITIAL ADOPTION

21

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT

22

OUTSTANDING SHARE DATA

23

DISCLOSURE CONTROLS AND PROCEDURES

23

INTERNAL CONTROLS OVER FINANCIAL REPORTING PROCEDURES

23

LIMITATIONS OF CONTROLS AND PROCEDURES

24

TECHNICAL INFORMATION

24

RISK FACTORS

24

AMARC RESOURCES LTD.

MANAGEMENT'S DISCUSSION AND ANALYSIS

FOR THE THREE MONTHS ENDED JUNE 30, 2026

DATE

This Management's Discussion and Analysis ("MD&A") should be read in conjunction with the audited financial statements (the "Annual Financial Statements") of Amarc Resources Ltd. ("Amarc", or the "Company") for the year ended March 31, 2026, and the unaudited condensed interim financial statements (the "Interim Financial Statements") of the Company for the three months ended June 30, 2026, both of which are publicly available on SEDAR+ at www.sedarplus.ca. All monetary amounts herein are expressed in Canadian Dollars ("CAD") unless otherwise stated.

The Company reports in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board ("IASB") and interpretations of the IFRS Interpretations Committee (together known as "IFRS"). The following disclosure and associated Financial Statements are presented in accordance with IFRS.

This MD&A is prepared as of August 25, 2026.

Amarc Resources Ltd. published this content on August 27, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on August 27, 2026 at 15:31 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]