Amarc and Boliden Prepare FOR 2024 Drilling Program at Duke Copper-GOLD District
AMARC AND BOLIDEN PREPARE
FOR 2024 DRILLING PROGRAM AT DUKE COPPER-GOLD DISTRICT
December 13, 2023 VANCOUVER, BRITISH COLUMBIA – Amarc Resources Ltd. ("Amarc" or the "Company") (TSXV:
AHR; OTCQB: AXREF) is pleased to announce that preparations have commenced with Boliden Mineral Canada
Ltd. (“Boliden”), for an extensive 2024 drilling program at its 100% owned DUKE Copper-Gold District (or “DUKE”
or the “District”) in central British Columbia (“BC”) .
As p art of the budgeted $10 million expenditure on the 722 km2 DUKE District in 2024, drilling is p lanned to
commence at site in February . The program will be fully funded by Boliden, which is earning -in at DUKE (see
below). Amarc will continue as operator of the project.
Drilling will initially focus on the DUKE Deposit and the surrounding DUKE Target area, following up on positive
results from the 11,086 m drill program completed in 2022-2023 (see Amarc release June 15, 2023) . The 2022-
2023 drilling successfully expanded the DUKE Deposit porphyry Cu-Mo-Ag-Au system laterally to a footprint of 650
m north-south by 800 m east-west and to a depth of at least 600 m. These successful results also highlighted the
potential for further expansion of the Deposit , and for the delineation of zones of higher grade within it . In
addition, encouraging intercepts from initial, widely spaced drilling in the robust 4.7 km 2 Induced Polarization
chargeability anomaly that surrounds the DUKE Deposit and forms the DUKE Target, suggest additional discovery
potential warranting follow up drill testing.
DUKE District
Amarc’s DUKE District is located 80 km northeast of Smithers within the Babine Region , one of the most
mineralized porphyry belts in BC. It hosts the former Bell and Granisle Cu -Au mines that were operated by
Noranda Mines, and the advanced stage Morrison Cu-Au deposit . Significant potential exists for discovery of
new large porphyry Cu deposits . Infrastructure servicing the former min es and the very active forestry and
exploration industries is nearby . There is an extensive network of forest roads and much of the Duke District is
road accessible.
In November 2022, Amarc entered into a Mineral Property Earn -In Agreement (the "EIA") with Boliden
Mineral Canada Ltd. (“Boliden”), an entity within the Boliden Group of companies (see Amarc release November
22, 2022). Under the terms of the Agreement, Boliden has a two-staged option to earn up to a 70% interest in
the DUKE District by fun ding $90 million exploration and development expenditures. A $10 million program
was completed in 2022-2023.
About Amarc Resources Ltd.
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 southern, central and northern BC, respectively. 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 Cu deposit
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 c apabilities 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 partn erships 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.
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: [email protected].
ON BEHALF OF THE BOARD OF DIRECTORS OF AMARC RESOURCES LTD.
Dr. Diane Nicolson
President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 explo ration 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 d ue 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.sedarplus.ca.