July 5, 2013, Vancouver, BC � Amarc Resources Ltd (�Amarc�) (TSX-V: AHR; OTCBB: AXREF) and Quartz Mountain Resources Ltd. (�Quartz Mountain�) (TSX-V: QZM; OTCBB: QZMRF) announce they have entered into an amendment agreement (the �Amendment�) with respect to their previously executed joint venture agreement (the �JV Agreement�) on the ZNT and Galaxie properties (the �Properties�) located in central and northern British Columbia (�BC�).

Under the terms of the Amendment, Amarc has the right to acquire a controlling interest in both properties by funding surface exploration programs to be completed during the 2013 field season. ZNT is considered to hold significant potential for the discovery of bulk tonnage-style silver deposits and Galaxie for porphyry copper deposits.

The Amendment

Under the terms of the Amendment, Amarc and Quartz Mountain have agreed that the current single joint venture between the companies will be divided into two separate joint ventures, namely the �Galaxie Joint Venture� and the �ZNT Joint Venture�, effective June 26, 2013. Each joint venture will continue to be governed by the terms of the JV Agreement.

The parties have also agreed to amend the option granted by Quartz Mountain to Amarc under the original terms of the JV Agreement. Under the amended terms, Amarc has an option until October 31, 2013 to increase its interest in both the ZNT and Galaxie joint ventures from its current 40% interest to a 60% ownership interest by funding exploration expenditures of $210,000 and $235,000, respectively.

Effective immediately, Amarc is appointed operator of both joint ventures. The field programs have been permitted and are expected to commence at ZNT in the next few weeks followed by work at Galaxie in late July through August.

The transactions contemplated by the Amendment are subject to regulatory approval�.

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Amarc Resources
http://www.amarcresources.com/ahr/NewsReleases.asp?ReportID=591095

Quartz Mountain Resources
http://www.quartzmountainresources.com/s/NewsReleases.asp?ReportID=591096

For more information on Amarc and Quartz Mountain, contact Investor Relations 604-684-365 or toll free 1-800-667-2114.

Best Regards,
Investor Services

HDI
15th Floor 1040 West Georgia Street, Vancouver BC V6E 4H1
Toll Free 1-800-667-2114 | Main 1-604-684-6365
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HDI is associated with the following companies: Heatherdale Resources Ltd., Curis Resources Ltd., Northcliff Resources Ltd., Rathdowney Resources Ltd., Northern Dynasty Minerals Ltd., Amarc Resources Ltd., and Quartz Mountain Resources Ltd. Visit us at www.hdimining.com for more information.