Amarc Secures Additional Investment from Freeport-Mcmoran, Provides Update ON Its Joy Copper-GOLD District, Golden Horseshoe Trend, BC
AMARC SECURES ADDITIONAL INVESTMENT FROM FREEPORT-MCMORAN,
PROVIDES UPDATE ON ITS JOY COPPER-GOLD DISTRICT, GOLDEN HORSESHOE TREND, BC
November 15, 2021, Vancouver, BC – Amarc Resources Ltd. (“Amarc” or the “Company”) (TSX-V: AHR; OTCQBB:
AXREF) is pleased to announce that Freeport -McMoRan Mineral Properties Canada Inc. (“Freeport”) has for the
second time this year accelerated its investment into the Company’s JOY Cu -Au District, (the “JOY”) located in
the Toodoggone region of the Golden Horseshoe trend, north -central British Columbia (“BC”) (see Amarc
release August 4, 2021). Freeport has increased its Year 1 contribution to the 2021 JOY explorat ion program by
~50% – from $4 million to $5.94 million.
“The Amarc technical team recently completed a successful 2021 exploration program at our JOY District,” said
Amarc President & CEO Dr. Diane Nicolson. “This comprehensive program included both core d rilling and
insightful modelling of the PINE copper -gold deposit, along with geological, geochemical and geophysical
surveys in the area of the PINE Deposit and over other key copper -gold deposit targets throughout the District.
Our team is currently worki ng to integrate the results, as they are received, into our existing data sets in order
to define next year’s deposit delineation and district exploration programs.”
Nicolson said Amarc was pleased to welcome several members of Freeport’s senior exploratio n management
team from Canada and the United States to site this summer, which further strengthened the alliance between
the partners and capitalized on the depth of porphyry copper-gold deposit discovery knowledge each possesses.
She commended the field crew working at JOY this season for completing an ambitious and challenging program
safely, on-time and without incident.
The Amarc and Freeport Team Review PINE Deposit Historical Drill Core The Amarc and Freeport Team Review PINE Deposit
Historical Drill Core
Highlights of the JOY 2021 Exploration Program
• Nine core holes completed over 4,300 m of drilling.
• Drilling included three high-priority, long core holes (up to 701 m) at the PINE Deposit that began to test
the depths and lateral extent of the porphyry Cu-Au mineralization. These are the first holes drilled at the
PINE Deposit by Amarc.
• A single, long drill hole (707 m) was drilled at the MEX Deposit area to test the potential depth extension
of this mineralized porphyry Cu-Au system, below historical drilling.
• In addition, five initial core holes (271 m to 404 m in length) were drilled to test four prioritized porphyry
Cu-Au targets, delineated by geochemical, Induced Polarization ( “IP”), airborne magnetic and geological
surveys, which include the Twins and Canyon targets (both >5 km2 in area).
• At the PINE Deposit, more than 60 historical core holes were re -logged and surface geological mapping
completed in order to target drilling o f internal, lateral and depth extensions to the deposit for next
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season. A number of additional historical drill holes from the MEX Deposit target and other porphyry Cu -
Au exploration targets were also re-logged to inform ongoing exploration efforts throughout the District.
• 42 line -km of IP survey were completed adjacent and to the north of the PINE deposit, and over the
Canyon, Twins, SW Takla and Central Takla exploration targets. Data from this survey is being merged with
information from the 112 line -km IP survey previously completed by Amarc, and historical coverage by
Gold Fields. IP chargeability surveys measure the relative quantity of sulphide mineralization and are
particularly effective in detecting porphyry Cu deposits covered by overburden.
Notably, IP chargeability survey results over the partially overburden covered Twins exploration target
have outlined a sulphide system extending over ~5 km 2 that remains open to the south and east. Within
this area, a new >2.5 km 2 high contrast IP chargeability response has been partly delineated. This area is
characterized by a number of discrete magnetic -high features, is transected by a series of interpreted
structures and is centered on a known occurrence of moderate to strongly altered monzonite intrusive
that is locally host to porphyry -style chalcopyrite -bearing veinlets. This new area of high contrast IP
chargeability remains to be drill tested.
JOY District IP Chargeability Clusters Outline an Extensive Mineralized System at the Twins and at Seven Other Target AreasJOY
District IP Chargeability Clusters Outline an Extensive Mineralized System at the Twins and at Seven Other Target Areas
• 684 soils samples were collected primarily over the SW Takla, Twins, Canyon South and Mex South targets,
extending previously completed soils grids. Data from this survey is being merged with information from
the 10,333 soil samples previously collected over the JOY project area.
• 179 rock samples were collected during geological traverses over the SW Takla, Twins, Canyon South,
MEX, North Finlay and Jock targets.
• All drill core, rock and rock samples have been shipped to ACTlabs in Kamloops, BC for preparation and
analyses. Laboratory timelines in BC and across Canada have increased significantly this season; assay
results will be reported as they become available.
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 copper-gold 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 copper±gold districts located in different prolific
porphyry districts in southern, central and northern BC, respectively. Each district represents significant potential
for the development of multiple and important -scale, porphyry copper±gold deposits. Importantly ea ch 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 30 -year history of porphyry discovery
and development success. Previous and current HDI projects include some of BC’s and the world’s most important
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porphyry deposits – such as Pebble, Mount Milligan, Southern Star, Kemess South, Kemess North, Gibraltar,
Prosperity, Xietongmen, Newtongmen, Florence, Casino, Sisson, Magg ie, IKE and Pine. 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 other 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 coordi nated 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
Mark Rebagliati, P. Eng., 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.
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.
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 drilling, exploitation activities and other related events or
developments 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 materia lly
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 as serted 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
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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 th at are available at
www.sedar.com.
Figure 1 The Amarc and Freeport Team Review PINE Deposit Historical Drill Core
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Figure 2 JOY District IP Chargeability Clusters Outline an Extensive Mineralized System at the Twins and at Seven Other Target Areas