Tulox Property, British Columbia
The Tulox Property is located in the Cariboo region of British Columbia (BC) and comprises an area of approximately 54 square kilometres. It was acquired by Amarc between 2005 and 2007 and is known to host gold and gold indicator element anomalies.
In April 2009, Amarc entered into an option agreement with Tulox Resources Inc. ("Tulox", formerly named Sitec Ventures Corp.) on the Tulox Property. Tulox can acquire a 100 per cent interest in the Tulox Property by making a cash payment of $10,000, expending $2 million on the Tulox Property and issuing 2,625,000 common shares over four years. Upon preparation of a Preliminary Assessment or a Prefeasibility Study, Amarc may exercise a one-off Back-In Right to obtain a 60 per cent interest in the Tulox Property by completing an additional $10 million in mineral exploration expenditures on the Property. The Tulox Property is subject to a three per cent net smelter royalty, which is reduced to 1.2 per cent in the event that the Back-In Right is exercised by Amarc.
Yukon, Saskatchewan Property Interests
Amarc has a five per cent net profits interest ("NPI") in 46 mineral claims that comprise the Ana Property in the Yukon, Canada and a 2.5 per cent NPI in a mineral lease over the Mann Lake Property in Saskatchewan, Canada.
