|December 22, 2011|
Amarc Acquires New Ground To Extend Its Hubble Property In South-Central British Columbia
|December 22, 2011 - Vancouver, BC - Amarc Resources Ltd. ("Amarc" or the "Company") (TSX Venture: 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.
For further details on Amarc Resources Ltd., please visit the Company's website at 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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