Amarc Introduces the Jo Porphyry Copper-GOLD Discovery IN the Duke District
AMARC INTRODUCES THE JO PORPHYRY COPPER-GOLD DISCOVERY
IN THE DUKE DISTRICT
April 16, 2024 - Amarc Resources Ltd. ("Amarc" or the "Company") (TSXV: AHR; OTCQB: AXREF) is pleased t o
introduce the new JO porphyry copper-gold (Cu-Au) target, one of several new drill-ready targets discovered
and delineated by the Company’s 2023 comprehensive exploration surveys across the pro spective 722 km 2
DUKE district (“DUKE District” or “District”) in central British Columbia (“BC”). The success of last year’s program
is highlighted by the identification of multiple new porphyry Cu-Au centers in the District.
Through 2023 Boliden Mineral Canada Ltd. (“Boliden”) , under the DUKE District Mineral Property Earn -in
Agreement, funded $10 million in exploration expenditures and will continue its earn in during 2024 with a
further $10 million of budgeted expenditures (see Amarc release December 13, 2023). Amarc continues as
project operator. A significant portion of this year ’s investment will be directed towards drilling the DUKE
Deposit and multiple drill ready porphyry Cu-Au targets across the District.
Amarc’s 2023 District wide field program (see Amarc release November 21, 2023) employed a combination of
geochemical, geophysical and geological surveys, and was expressly designed to identify previously unrecognized
porphyry Cu-Au deposit targets associated with biotite-feldspar porphyry (“BFPs”) intrusive rocks. These BFPs are
host to mineralization within the prolific Babine porphyry Cu -Au Region (the “Babine”) at the former Bell and
Granisle Cu-Au mines that were operated by Noranda Mines, the advanced stage Morrison Cu -Au deposit, and
also Amarc’s DUKE Deposit, SVEA Cu-Au Deposit Target (see Amarc release January 19, 2024) and the JO Target.
“Our effective surveys across the DUKE District continue to highlight the potential for finding important copper-
gold d eposits,” said Amarc President & CEO Dr. Diane Nicolson. “The discovery of a new mineralized
occurrence at the JO Target in a region with half a century of exploration history should not be understated.
The strength of coincident Induced Polarization chargeability and magnetic geophysic al anomalies and
associated copper-gold mineralization hosted by a key BFP intrusion warrants drill testing. A reconnaissance
drilling program is in the planning stages and will be undertaken during the 2024 summer field season, following
on from drilling at the promising SVEA Cu-Au Deposit Target.”
Nicolson further added that the Amarc team, having achieved all objectives of the nine hole winter drilling
program at the DUKE Deposit and DUKE Target, has safely demobilized ahead of breakup. As results are received
and assessed they will be timely released.
Figure 1: DUKE District – Comprehensive Exploration Surveys Have Delineated Multiple New Porphyry
Cu-Au Targets
JO Target Discovery
Prior to Amarc’s 2023 District wide exploration programs, no mineral occurrences were identified in the area of
the JO Target and th is discovery highlights the effectiveness of th e survey work. N otably JO is located
approximately 6 km to the northwest of Amarc’s SVEA Deposit Target and 36 km to the northwest of its DUKE
Deposit (Figure 1). JO shares similar attributes with Amarc’s DUKE Deposit and SVEA Deposit Target, and also the
known Babine Cu-Au deposits, being characterized by:
• An association with regional scale faults that exert a common control on the distribution of porphyry Cu-
Au in the Babine is likely present.
• The distribution of silver in reconnaissance soil samples suggests that the Cu-Au mineralized BFP lies
close to a north-northwest striking deformation zone.
• An association with a substantial 3 km2 Induced Polarization (“IP”) chargeability anomaly (+15 mV/V)
identifying a potential sulphide mineralized system (Figure 2).
• Within this IP chargeability anomaly, a strong 1 km oval-shaped lobe of higher chargeability (+20 mV/V)
located toward the east hosts a rare occurrence of BFP in the target area, which is covered by extensive
glacial till. This occurrence is also located on the eastern flanks of a magnetic high.
• This BFP occurrence can be correlated with other BFP-related porphyry Cu-Au deposits in the Babine
through its presumed Eocene age, alteration style and association with regional scale structural controls.
• The BFP occurrence hosts well developed porphyry-style potassic alteration characterized by both
secondary biotite and orthoclase, with disseminated chalcopyrite. The discovery composite rock sample,
comprised of five to six chips from a number of mineralized angular boulders on top of an outcrop,
returned 0.18% Cu, 0.52 g/t Au, 16.05 g/t Ag and 55 ppm Mo.
• A second strong IP chargeability high lobe with similar dimensions and magnetic anomalies is located
some 1,500 m to the west of the above. This area also has extensive surficial cover and a bedrock source
has not yet been identified.
• Due to the extensive glacial cover, LiDAR1 survey data is currently being used to interpret grid soil
geochemical data.
This combination of geological data suggests good potential for additional porphyry Cu-Au mineralization to be
identified with drilling th rough the extensive cover . It is Amarc ’s intent to drill test this and several other
compelling targets during the summer 2024 drill season.
Figure 2: JO Cu-Au Target - An Important Discovery at DUKE
Sixteen prospective deposit target areas were selected for 2023 field assessment based on a comprehensive
compilation of government and historical exploration data from over the entire District (see Amarc’s DUKE Project
2020 Technical Report, available on the website at https://amarcresources.com/projects/duke-project/technical-
report/). Exploration surveys included extensive airborne magnetic geophysical and LiDAR surveys together with
ground IP geophysics, soil grid geochemistry and geological mapping surveys (see Amarc release November 21,
2023).
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
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 .
for the development of multiple and important -scale, porphyry Cu±Au deposits. Importantly, each of the three
districts are 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 each 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 for these Districts . In addition, Amarc intends to solo drill the higher grade Empress
Deposit in the IKE District with funding from a successful 2023 financing. Amarc is the operator of all 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 as Defined Under National Instrument 43-101
Dr. Paul Johnston, P.Geo., a Qualified Person as defined under National Instrument 43 -101, has reviewed and
approved the technical content in this release.
Quality Control/Quality Assurance Program
Rock samples were sent to ALS Canada Ltd. (ALS), North Vancouver , Canada facility for preparation and analysis
where they were dried, crushed to 70% passing -2mm, and a 250 g split pulverized to better than 85% passing 75
microns. Samples were analyzed for Au by fire assay fusion of a 30 g sub-sample with an ICP-AES finish and for 60
elements including Cu, Mo, Ag by four-acid digestion of a 0.25 sub -sample followed by an ICP -AES and ICP-MS
finish. As part of a comprehensive Quality Assurance/Quality Control ("QAQC") program, Amarc control samples
were inserted in each analytical batch at the following rates: standards and/or blanks one in 40 regular rock
samples or a minimum of one per batch. The control sample results were then checked to ensure proper QAQC.
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 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.
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.
Figure 1: DUKE District – Comprehensive Exploration Surveys Have Delineated Multiple New Porphyry Cu -Au Targets
Figure 2: JO Cu-Au Target - An Important Discovery at DUKE