Amarc Completes $2.77 Million Financings
AMARC COMPLETES $2.77 MILLION FINANCINGS
December 1, 2023 – VANCOUVER, BRITISH COLUMBIA – Amarc Resources Ltd. (TSXV: AHR; OTCQB: AXREF)
(“Amarc” or the “Company”) is pleased to announce that it has completed the two concurrent private financings
described in its November 23, 2023 news release, raising aggr egate proceeds of $2.77 million. Amarc issued
25,000,000 common shares and 4,807,693 five-year share purchase warrants exercisable at $0.08 per common
share; 15,384,615 of the shares were issued at $0.13 as Flow -Through shares (“FT”) and 9,615,385 of the shares
were issued as part of non-FT units (with each non-FT unit consisting of one common share and one-half of one
warrant) at the price of $0.08 per non-FT unit for proceeds of $769,231. The related information about the new
insider resulting from these financings referenced in the November 23, 2023 new s release remains correct. All
these securities have a 4 -month hold period in Canada and no commissions were paid in connection with the
financings.
The Company intends to use the net proceeds of the FT Shares exclusively for exploration of Amarc’s portfolio of
British Columbia copper -gold projects while the proceeds of the non-FT units will be used for general working
capital.
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 IKE, DUKE and JOY 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 a nd important-scale, porphyry Cu±Au deposits. Importantly, each of the three
districts is located in proximity to industrial infrastructure – including power, highways and rail.
Freeport-McMoRan Mineral Properties Canada Inc. (“Freeport”), a wholly owned subsidiary of Freeport -
McMoRan Inc. at JOY and Boliden Mineral Canada Ltd. (“Boliden”), an entity within the Boliden Group of
companies at DUKE, can earn up to a 70% interest in e ach District through staged investments of $110 million
and $90 million, respectively. Together this provides Amarc with potentially up to $200 million in non -share
dilutive staged funding. Amarc is the operator of both programs.
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 ca pabilities 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 e stablish 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.
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 are forward -looking
statements. Although the Company believes the e xpectations 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. Mi neral Exploration is
inherently uncertain. 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.