Amarc Completes Comprehensive Field Programs to Assess Porphyry Copper-GOLD Targets Across the Duke District
AMARC COMPLETES COMPREHENSIVE FIELD PROGRAMS TO ASSESS
PORPHYRY COPPER-GOLD TARGETS ACROSS THE DUKE DISTRICT
November 21, 2023 - Amarc Resources Ltd. ("Amarc" or the "Company") (TSXV: AHR; OTCQB:AXREF) is pleased to
report that it has completed extensive airborne and surface exploration surveys on its 100% -owned DUKE
porphyry Cu-Au district (“DUKE District” or “District”) in central British Columbia (“BC”) . These comprehensive
surveys were designed to assess 16 porphyry Cu-Au targets located across the District, to confirm highest priority
targets for drill testing in 2024. Through 2023, $10 million in exploration expenditures at the DUKE District are
being fully funded under the Mineral Property Earn-in Agreement with Boliden Mineral Canada Ltd. (“Boliden”)
(see Amarc news release November 22, 2022) . Amarc is project operator. The results from the surveys will be
released as soon as they are compiled and interpreted.
“These comprehensive District-wide field surveys have provided valuable new information over prioritized deposit
targets, especially when combined with the knowledge gained about porphyry copper deposits in the greater
District from our DUKE Deposit 2022-2023 drilling,” said Amarc President & CEO Dr. Diane Nicolson . “All survey
results from this inaugural District wide program are now streaming in and are being compiled, reviewed and
actively prioritized in order to confirm our 2024 drill program.”
Program Overview
Exploration works, including extensive airborne magnetic geophysical and LiDAR surveys1 and also ground Induced
Polarization (“IP”) geophysical, soils geochemistry and geological mapping surveys focused on 16 porphyry Cu-Au
deposit target areas. The principal components of the 2023 surveys completed include:
• 5,759 line-km of high resolution airborne magnetics
• 678 km2 of LiDAR
• 68 line-km of ground magnetics
• 122 line-km of IP geophysics
• 6,079 grid soil sample geochemistry analyses
• 315 rock sample geochemistry analyses
• Framework and localized detailed geological mapping
The 16 prospective target areas were selected based on a comprehensive compilation of government and
historical exploration data from over the entire District. The study highlighted the low exploration maturity of the
productive Babine porphyry Cu -Au region and provided a new interpretation of the District ’s geological,
geochemical and geophysical characteristics . These datasets include d >2,300 regional geochemical samples,
116,344 line-km of airborne magnetic and radiometric s, and 25,500 line -km of aerogravity (see Amarc’s DUKE
Project 2020 Technical Report , available on the website at https://amarcresources.com/projects/duke-
project/technical-report/).
As mentioned above, the extensive data from the 2023 surveys is currently being compiled. Once appropriately
verified and integrated into existing historical datasets, it will be released. For information relating to Amarc’s
2022 and 2023 DUKE drilling, see Amarc releases February 15, 2023 and June 15, 2023.
1 LiDAR (Light Detection And Ranging) uses laser pulses to calculate distances, capture precise measurements and measure ranges to
create 3D information about a specific area and its characteristics.
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About Amarc Resources
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 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.
Boliden Mineral Canada Ltd. (“Boliden”) , an entity within the Boliden Group of companies at DUKE and
Freeport-McMoRan Mineral Properties Canada Inc. (“Freeport”) , a wholly owned subsidiary of Freeport -
McMoRan Inc. at JOY, can earn up to a 70% interest in each District through staged investments of $90 million
and $110 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 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 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
Dr. Roy Greig, P.Geo, a Qualified Person (“QP”) as defined by National Instrument 43-101, has read and approved
all technical and scientific information related to the Duke Project contained in this news release. Dr. Greig is
Amarc’s Vice President, Exploration.
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 the TSX Venture Exchange nor any other regulatory authority accepts responsibility for the adequacy or
accuracy of this release.
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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 environmenta l 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 co nditions, as
well as risks relating to the uncertainties with respect to the effects of COVID-19. 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.