VANCOUVER,
Dec. 22, 2011 /PRNewswire/ - Amarc
Resources Ltd. ("Amarc" or the "Company") (TSXV: AHR) (OTCBB:
AXREF) announces that it has entered into a purchase agreement to
acquire six mineral claims comprising approximately 70 square
kilometres (the "property") adjacent to its Hubble property in
south-central British Columbia.
Pursuant to the agreement, Amarc can acquire a 100% interest in the
property by issuing 80,000 common shares and making a cash payment
of $50,000. The agreement is subject
to acceptance by the TSX Venture Exchange. The Amarc shares will be
subject to a statutory four-month hold period under Canadian
securities requirements.
Amarc holds a 100% interest in the Hubble
property, located within the Blackwater district approximately 35
kilometres northeast of New Gold's Blackwater deposit for which an
Indicated Resource of 184 million tonnes at 0.94g/t gold and 4.9
g/t silver and an Inferred Resource of 43 million tonnes at 0.88
g/t gold and 4.7 g/t silver at a 0.3 g/t gold cut‐off has been
announced (New Gold website). New Gold acquired the Blackwater
deposit from Richfield Ventures Corp. in June 2011 through a transaction valued at
approximately $550 million (see New
Gold press release April 4,
2011).
A property map showing the location of the
Hubble property and the new acquisition, known as Hubble East, is
posted on Amarc's website at
http://www.amarcresources.com/ahr/MapsFigures.asp. Amarc initiated
a regional field program at Hubble in 2011, undertaking
approximately 370 line kilometres of helicopter-borne magnetic and
electromagnetic geophysical surveys from which a number of
epithermal gold-silver and gold-copper porphyry-type targets were
identified for follow-up. Induced Polarization ground geophysical
surveys have been completed over these target areas and results
from the program are being assessed.
About Amarc Resources Ltd.
Amarc is a Vancouver-based mineral exploration and
development company focused on making the next major gold discovery
in BC. Its exploration activities are focused on the Newton gold
discovery through a Joint Venture with Newton Gold Corp. (Amarc
80%: Newton Gold Corp. 20%) and its 100% owned Galileo property,
located to the west of New Gold's Blackwater holdings.
About Hunter Dickinson Inc.
Amarc is associated with Hunter Dickinson Inc.
(HDI) - a diversified, global mining group with a 25-year history
of mineral development success. Previous HDI projects in BC include
Golden Bear, Mt. Milligan, Kemess,
Gibraltar, Prosperity and Harmony.
From its head office in Vancouver,
Canada, HDI applies its unique strengths and capabilities to
acquire, develop, operate and monetize mineral properties to
provide consistently superior returns to shareholders.
Mark Rebagliati,
P.Eng., a Qualified Person as defined under National Instrument
43-101, is supervising the exploration and quality assurance and
quality control programs on behalf of Amarc and has reviewed the
technical content of this release.
ON BEHALF OF THE BOARD
Ronald W.
Thiessen
President & CEO
Neither the TSX Venture Exchange nor any other
regulatory authority accepts responsibility for the adequacy or
accuracy of this release.
Forward Looking and other Cautionary
Information
This release includes certain statements that
may be deemed "forward-looking statements". All statements in this
release, other than statements of historical facts that address
exploration drilling, exploitation activities and other related
events or developments are forward-looking statements. Although the
Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in the forward
looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include market prices, potential environmental issues or
liabilities associated with exploration, development and mining
activities, exploration and exploitation successes, continuity of
mineralization, uncertainties related to the ability to obtain
necessary permits, licenses and title and delays due to third party
opposition, changes in and the effect government policies regarding
mining and natural resource exploration and exploitation,
continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned
that any such statements are not guarantees of future performance
and actual results or developments may differ materially from those
projected in the forward-looking statements. For more information
on Amarc Resources Ltd., investors should review the Company's
annual Form 20-F filing with the United States Securities and
Exchange Commission at www.sec.gov and its home jurisdiction
filings that are available at www.sedar.com.
SOURCE Amarc Resources Ltd.
