 September 5, 2023 Amarc Establishes Indigenous Scholarship for Lake Babine Nation as Part of DUKE Area Claims Option with Prospector Richard J Billingsley Vancouver, BC – Amarc Resources Ltd. (“Amarc” or the “Company”) (TSXV: AHR; OTCQB:AXREF) announces that it and well-known British Columbia minerals prospector Richard J (Dick) Billingsley (“Optioner”), have agreed to establish an indigenous scholarship as part of the terms of an option agreement (“the “Agreement”). Under the terms of the Agreement, Amarc may acquire from Mr. Billingsley a 100% interest in a group of mineral claims, covering some 2.34 km², that are located internal to and near to the northern extent of the 678 km² DUKE property. Amarc CEO, Dr Diane Nicolson said, “We are very pleased with the outcome of our negotiations with Dick who has generously agreed that Amarc’s funding of the scholarship would satisfy an important part of the consideration to him for the transfer of these mineral claims to the Company. It is planned that Amarc, Mr. Billingsley and representatives from the Lake Babine Nation would participate in a scholarship awards committee. Education and training are a priority for Amarc. We hope that local young people will benefit from this scholarship, acquiring additional knowledge and skills that will lead them to a career in mineral exploration or another rewarding field.” Lake Babine Nation, Chief Murphy Abraham commented, “Lake Babine Nation invites and supports this scholarship program, and it’s one of many initiatives Diane and her team at Amarc have been working towards when it pertains to reconciliation. This will be a great opportunity for the next generation to further educate themselves in the field of mining exploration and/or other related fields. Much appreciation to Mr. Billingsley and Amarc for providing this opportunity which will help build the capacity Lake Babine needs to be able to sustain itself in the future of this industry.” Amarc is a mineral exploration and development company with an experienced and successful management team focused on developing a new generation of long-life, high-value porphyry Cu-Au mines in BC. By combining high-demand projects with dynamic management, Amarc has created a solid platform to create value from its exploration and development-stage assets. Amarc is advancing its 100%-owned JOY, DUKE and IKE porphyry Cu±Au districts located in different prolific porphyry regions of northern, central and southern BC, respectively. Freeport at JOY and Boliden Mineral Canada Ltd. at DUKE can earn up to a 70% interest in each District by staged investments of $110 million and $90 million, respectively: together, potentially $200 million in non-share dilutive funding. Each district represents significant potential for the development of multiple and important-scale, porphyry Cu±Au deposits. Importantly, each of the three districts is located in proximity to industrial infrastructure – including power, highways and rail. Amarc is associated with HDI, a diversified, global mining company with a 35-year history of porphyry discovery and development success. Previous and current HDI projects include some of BC’s and the world’s most important porphyry deposits – such as Pebble, Mount Milligan, Southern Star, Kemess South, Kemess North, Gibraltar, Prosperity, Xietongmen, Newtongmen, Florence, Casino, Sisson, Maggie, IKE, PINE and DUKE. From its head office in Vancouver, Canada, HDI applies its unique strengths and capabilities to acquire, develop, operate and monetize mineral projects. Amarc works closely with local governments, Indigenous groups and stakeholders in order to advance its mineral projects responsibly, and in a manner that contributes to sustainable community and economic development. We pursue early and meaningful engagement to ensure our mineral exploration and development activities are well coordinated and broadly supported, address local priorities and concerns, and optimize opportunities for collaboration. In particular, we seek to establish mutually beneficial partnerships with Indigenous groups within whose traditional territories our projects are located, through the provision of jobs, training programs, contract opportunities, capacity funding agreements and sponsorship of community events. All Amarc work programs are carefully planned to achieve high levels of environmental and social performance. Qualified Person as Defined Under National Instrument 43-101 Dr. Roy Greig, P.Geo., a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical content in this release. For further details on Amarc Resources Ltd., please visit the Company’s website at www.amarcresources.com or contact Dr. Diane Nicolson, President and CEO, at (604) 684-6365 or within North America at 1-800-667-2114, or Kin Communications, at (604) 684-6730, Email: AHR@kincommunications.com. ON BEHALF OF THE BOARD OF AMARC RESOURCES LTD. Dr. Diane Nicolson President and Chief Executive Officer Investor Relations Kin Commmunications Inc. 604-684-6730 AHR@kincommunications.com Forward Looking and other Cautionary Information This news release includes certain statements that may be deemed “forward-looking statements”. All such statements, other than statements of historical facts that address exploration plans and plans for enhanced relationships 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. Assumptions used by the Company to develop forward-looking statements include the following: Amarc’s projects will obtain all required environmental and other permits and all land use and other licenses, studies and exploration of Amarc’s projects will continue to be positive, and no geological or technical problems will occur. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, potential environmental issues or liabilities associated with exploration, development and mining activities, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and tenure and delays due to third party opposition, changes in and the effect of government policies regarding mining and natural resource exploration and exploitation, exploration and development of properties located within Aboriginal groups asserted territories may affect or be perceived to affect asserted aboriginal rights and title, which may cause permitting delays or opposition by Aboriginal groups, 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 actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Amarc Resources Ltd., investors should review Amarc’s annual Form 20-F filing with the United States Securities and Exchange Commission at www.sec.gov and its home jurisdiction filings that are available at www.sedar.com. Amarc Resources Ltd., 14th Floor – 1040 West Georgia Street, Vancouver, BC, Canada, 1.800.667.2114 Unsubscribe Manage preferences |
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