|May 31, 2012|
Amarc Acquires 100% Interest In The Newton Project
|May 31, 2012 - Vancouver, BC - Amarc Resources Ltd. ("Amarc" or the "Company") (TSX Venture: AHR; OTCBB: AXREF) announces that, effective May 22, 2012, the Participating Interest of Newton Gold Corp. ("NGC") in the Newton Joint Venture converted to a 5% Net Profits Interest in accordance with the terms of the Joint Venture Agreement between the Company and NGC. As a result, NGC will no longer be a participant in the Joint Venture and the Newton Joint Venture Agreement has terminated. Amarc now holds a 100% interest in Newton property, subject only to the 5% Net Profit Interest to NGC and a Net Smelter Return Royalty to underlying property vendors which can be purchased for $2 million.|
Delineation drilling of the Newton gold discovery commenced in late September and has progressed rapidly, with the completion of approximately 16,000 metres in 43 diamond drill holes. A Drill Hole Location Map is available at Amarc's website: http://www.amarcresources.com /i/ahr/pdf/AHR_2012_May31_drawings.pdf. This recent drill phase brings the total drilling of the Newton deposit to approximately 23,300 metres in 72 holes. Drilling activities on the project have now been placed on standby, so that all assay results can be received and compiled. The camp, core processing facilities and one drill rig remain on site. Over the next two months Amarc's geological team will integrate the incoming assay data with information from various on-going geological studies, including state-of-the--art drill core imaging technology which will assist in vectoring towards gold enriched areas of the Newton system. Further assay results will be compiled shortly and available for release. In addition a resource estimate for the Newton deposit is underway and is expected in mid-July. All of this work will inform management's plans for further exploration of the Newton property.
Permit applications for extensive Induced Polarization ground geophysical surveys around the Newton discovery and additional drilling have been submitted to the provincial government.
Newton lies 175 kilometres south of New Gold's Blackwater gold deposit and some 100 kilometres west of the City of Williams Lake, BC, in a region characterized by gently rolling hills. The district is well served by existing transportation and power infrastructure and a skilled workforce, which support a number of operating mines, as well as late-stage mineral development and exploration projects.
About Amarc Resources Ltd.
Amarc is a Vancouver-based mineral exploration and development company focused on making the next major gold discovery in BC. With a strong working capital position of $12.5 million, its exploration activities are focused on its 100% owned Newton gold discovery and the Galileo property which lies adjacent to New Gold's Blackwater property.
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 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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