Drilling Recommences at Amarc’S Duke Copper-GOLD District, BC
DRILLING RECOMMENCES AT AMARC’S DUKE COPPER-GOLD DISTRICT, BC
January 19, 2023 – VANCOUVER, BC Amarc Resources Ltd. ("Amarc" or the "Company") (TSXV: AHR ;
OTCQB:AXREF) is pleased to announce that core drilling has resumed at its 100%-owned DUKE porphyry Cu-Au
district (“DUKE District” or “DUKE”) in central British Columbia (“BC”) after an end of year break. This is the first
phase of programs to be funded under the Mineral Property Earn-in Agreement (the "Agreement") with Boliden
Mineral Canada Ltd. (“Boliden” ), a wholly -owned subsidiary of the Boliden Group. Under the terms of th at
Agreement, Boliden may earn up to a 70% ownership interest, by investing in stages up to $90 million in the
exploration and development of Amarc’s DUKE District (see November 22, 2022 news release). Amarc is project
operator during the earn-in phase.
Core drilling focused at the DUKE Deposit was initiated in late 2022 (see December 8, 2022 news release), with
two holes completed prior to the holiday break. One core rig is now drilling and will be joined by a second rig later
this week. One rig will focus on further delineating the DUKE Deposit , while the other will drill test the largely
overburden covered, 3 km2 Induced Polarization (“IP”) chargeability anomaly that surrounds the DUKE Deposit .
IP chargeability surveys measure the relative quantity of sulphide mineralization and are particularly effective
in detecting potential porphyry Cu deposits covered by overburden.
The fully -funded 2023 program is planned to continue until spring break -up, then recommence again in the
summer with drilling and additional surface programs testing some 12 prioritized deposit targets across the DUKE
District.
Boliden has committed to invest $5 million, with an expected further investment of $5 million (total $10 million)
during 2023.
About the DUKE District
Amarc’s DUKE District is located 80 km northeast of Smithers within the Babine Region, one of BC’s most prolific
porphyry Cu-Au belts. 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 infrastructure exists in the region servicing the
former mines and the very active forestry and exploration industries.
Central to Amarc’s extensive mineral tenure is the DUKE Deposit discovery, located 30 km north of the former Bell
Mine. Although explored historically, the extensive porphyry Cu system at the DUKE discovery has not been
delineated or drilled off. Many of the 21 historical shallow and closely-spaced core holes intersected and ended
in significant Cu-Mo-Ag-Au mineralization. These holes were restricted to a small portion of a robust, 3 km north-
south by 1 km east -west I P chargeability anomaly indicating a large sulphide mineralized system . Amarc
completed initial drilling at the DUKE Deposit in 2017 and 2018. Seven of the eight core holes drilled over an area
measuring approximately 400 m north-south by 600 m east-west (see December 19, 2017 and June 12, 2018 news
releases) successfully intersected porphyry copper -style mineralization to a vertical depth of 360 m. This
mineralization remains wide open to expansion. The eighth hole was drilled off a road one kilometre to the north
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and within the 3 km 2 sulphide mineral system ; it intersected similar copper -molybdenum-silver-gold porphyry
mineralization.
Amarc has also completed a comprehensive compilation of government and historical data over the entire DUKE
District. This detailed scientific work provided a new interpretation of the geological, geochemical and geophysical
characteristics of the Babine belt, and identified 12 previously unrecognized porphyry Cu deposit targets with
exciting potential (see May 6, 2020 news release).
Further information on the historical and Amarc’s modern exploration activities in the DUKE District, are described
in the Company’s DUKE Project 2020 Technical Report available on its website at
https://amarcresources.com/projects/duke-project/technical-report/ .
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 differ ent 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 capabilities 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 sup ported, 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.
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Qualified Person
Dr. Roy Greig, P.Geo, a Qualified Person 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.
Forward Looking and other Cautionary Information
This news release includes certain statements that may be deemed "forward -looking st atements". 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 s tatements 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 p rojects 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 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 Abori ginal
groups asserted territories may affect or be perceived to affect asserted aboriginal rights and title, which may cause permit ting 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.