|June 17, 2004|
Amarc Begins Trading On OTCBB With Symbol AXREF
|June 17, 2004, Vancouver, BC -- Ronald W. Thiessen, President and CEO of Amarc Resources Ltd. (TSX Venture: AHR; OTCBB: AXREF) is pleased to announce that the Company has begun trading in the United States on the Over-the-Counter Bulletin Board under the symbol AXREF. This new listing will provide more exposure to American investors. Amarc will also continue to trade on the TSX Venture Exchange under the symbol AHR.|
Amarc has embarked on a focused effort to make major new mineral deposit discoveries in British Columbia, a well-endowed geological environment in the western Canada. Guided by Hunter Dickinson management and senior staff, who have made a number of significant discoveries in BC, Amarc's exploration team is assembling a portfolio of key projects.
Priority areas have been established through original scientific research and by review of property submissions. It is expected that numerous mineral property acquisitions will be made over the coming months. To date, six new copper-gold porphyry targets have been staked in south-central British Columbia. These projects range from grassroots exploration plays identified from a recently released BC government airborne geophysical survey to more advanced projects with substantial geochemical and geophysical anomalies from historic work. Induced Polarization geophysical surveys as well as geological reconnaissance work are underway at these properties, with some quite interesting preliminary results being received.
In addition, Amarc has made several property acquisitions, the most recent of which is the GBR Project (previously known as Wolverine), located on the Golden Bear Road in northern BC. The GBR property hosts a very extensive gold-copper porphyry target, measuring 5,000 metres long and up to 2,000 metres wide, outlined by anomalous copper and gold values in overlying soils. The GBR target is a Galore Creek type deposit, similar to that being developed by Spectrum Gold Ltd.
Field surveys that began in early May 2004 are ramping up, focused on identifying new property acquisitions and refining targets for drilling programs.
ON BEHALF OF THE BOARD OF DIRECTORS
Ronald W. Thiessen
President & CEO
No regulatory authority has approved or disapproved the information contained in this news release.
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 future production, reserve potential, 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, 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 that 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 annual Form 20-F filing with the United States Securities Commission.
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