Mon Jan 26, 2009 Amarc Receives $1.5 Million From The BC Government's METC Program
January 26, 2009, Vancouver, BC: -- Amarc Resources Ltd. ("Amarc" or the "Company") (TSX-V: AHR, OTCBB: AXREF) announces that the Company has received $1.5 million in cash from the British Columbia Mining Exploration Tax Credit (METC) program.
The METC initiative was introduced by the BC Government to stimulate new economic activity in the province and includes an enhanced credit for mineral exploration in areas affected by the mountain pine beetle infestation. The pine beetle infestation has affected an area of approximately 13.5 million hectares and has had a significant impact on the Province's forestry industry. Since 2004, Amarc has spent in excess of $20 million on its BC initiative with exploration activities largely focused within the pine beetle affected areas. The objective of Amarc's BC program is to discover the next major metals mine in the Province.
Recent exploration activities by Amarc in the Sitlika Belt of central BC have led to the discovery of a number of new, extensive felsic volcanic centers associated with strongly anomalous copper and zinc signatures, which are highly prospective for the discovery of base metal-rich volcanogenic massive sulphide deposits. The promising Huge South target, located in the northern sector of the Sitlika Belt (also described in the Company's November 24, 2008 news release), is defined by an approximately 5 kilometer in length strong copper-in-soil anomaly that remains open and by an initial induced polarization geophysical survey. The Huge South target is to be tested during the 2009 field season.
Amarc Resources Ltd. is a Vancouver-based exploration and development company, focused on making the next major new mineral deposit discovery in the province of British Columbia. Amarc is affiliated with Hunter Dickinson Services Inc., the personnel and management of which have enjoyed considerable success in BC through their involvement with the Golden Bear, Mt. Milligan, Kemess, Prosperity, Gibraltar and Harmony deposits. Hunter Dickinson expects to further its B.C. success through Amarc.
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 content of this release.
For further details on Amarc Resources Ltd., please visit the Company's website at www.amarcresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.
ON BEHALF OF THE BOARD
Ronald W. Thiessen President & CEO
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1020 - 800 West Pender Street, Vancouver BC Canada V6C 2V6 Telephone: 604-684-6365 Facsimile: 604-684-8092 TollFree: 1-800-667-2114