VANCOUVER,
Feb. 14, 2012 /PRNewswire/ - Amarc
Resources Ltd. ("Amarc" or the "Company") (TSX Venture: AHR; OTCBB:
AXREF) announces that it is arranging a private placement of up to
$10 million. The financing includes
flow-through shares at a price of $0.50 per share and non-flow through units at a
price of $0.45 per unit. Each
non-flow through unit will consist of one common share and one half
warrant, with each whole warrant exercisable to purchase one
additional common share at a price of $0.60 for 18 months from the closing of the
financing, which is expected on or about February 27, 2012. The securities issued
will be subject to a four month hold period under Canadian
securities laws. Fees may be payable on a portion of the
financing. The financing is subject to regulatory
approval.
Proceeds from the financing will be used to
continue to advance exploration of Amarc's properties, including
on-going delineation drilling at the Newton gold discovery in
south-central British Columbia,
and for general corporate and working capital purposes.
Delineation drill results from Newton continue to
confirm an extensive and robust gold system over an area that
currently measures 900 metres by 600 metres and is open to
expansion in several directions. The age and geological
characteristics of the gold mineralization at Newton demonstrate
striking similarities to the mineralization at New Gold's seven
million ounce-plus bulk tonnage deposit at Blackwater located to
the north (New Gold news release February 2,
2012).
Amarc Executive Chairman Robert Dickinson said, "We are increasingly
confident that ongoing drilling at Newton will confirm this deposit
as the next major gold discovery in BC's emerging Blackwater-Newton
gold belt."
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 and Hubble
properties.
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
events or developments that the Company expects 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, exploitation and
exploration 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
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 the Company, investors should review the
Company's continuous disclosure filings that are available at
www.sedar.com.
SOURCE Amarc Resources Ltd.
