VANCOUVER, Feb. 14, 2012 /CNW/ - Amarc Resources Ltd. ("Amarc" or the
"Company") (TSX Venture: AHR; OTCBB: AXREF) announces that it is
arranging a private placement of up to $10 million. The financing
includes flow-through shares at a price of $0.50 per share and non-flow
through units at a price of $0.45 per unit. Each non-flow through unit
will consist of one common share and one half warrant, with each whole
warrant exercisable to purchase one additional common share at a price
of $0.60 for 18 months from the closing of the financing, which is
expected on or about February 27, 2012. The securities issued will be
subject to a four month hold period under Canadian securities laws.
Fees may be payable on a portion of the financing. The financing is
subject to regulatory approval.
Proceeds from the financing will be used to continue to advance
exploration of Amarc's properties, including on-going delineation
drilling at the Newton gold discovery in south-central British
Columbia, and for general corporate and working capital purposes.
Delineation drill results from Newton continue to confirm an extensive
and robust gold system over an area that currently measures 900 metres
by 600 metres and is open to expansion in several directions. The age
and geological characteristics of the gold mineralization at Newton
demonstrate striking similarities to the mineralization at New Gold's
seven million ounce-plus bulk tonnage deposit at Blackwater located to
the north (New Gold news release February 2, 2012).
Amarc Executive Chairman Robert Dickinson said, "We are increasingly confident that ongoing drilling at Newton will
confirm this deposit as the next major gold discovery in BC's emerging
Blackwater-Newton gold belt."
About Amarc Resources Ltd.
Amarc is a Vancouver-based mineral exploration and development company
focused on making the next major gold discovery in BC. Its exploration
activities are focused on the Newton gold discovery through a Joint
Venture with Newton Gold Corp. (Amarc 80%: Newton Gold Corp. 20%) and
its 100% owned Galileo and Hubble properties.
Amarc is associated with Hunter Dickinson Inc. (HDI) - a diversified,
global mining group with a 25-year history of mineral development
success. Previous HDI projects in BC include Golden Bear, Mt. Milligan,
Kemess, Gibraltar, Prosperity and Harmony. From its head office in
Vancouver, Canada, HDI applies its unique strengths and capabilities to
acquire, develop, operate and monetize mineral properties to provide
consistently superior returns to shareholders.
Mark Rebagliati, P.Eng., a Qualified Person as defined under National
Instrument 43-101, is supervising the exploration and quality assurance
and quality control programs on behalf of Amarc and has reviewed the
technical content of this release.
ON BEHALF OF THE BOARD
Ronald W. Thiessen
President & 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 release includes certain statements that may be deemed "forward-looking statements". All statements in
this release, other than statements of historical facts, that address
exploration drilling, exploitation activities and events or developments that the Company expects 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. Factors that could cause actual results
to differ materially from those in forward-looking statements include
market prices, exploitation and exploration successes, continuity of
mineralization, uncertainties related to the ability to obtain
necessary permits, licenses and title and delays due to third party
opposition, changes in government policies regarding mining and natural
resource exploration and exploitation, continued availability of
capital and financing, and general economic, market or business
conditions. 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 the Company, investors should
review the Company's continuous disclosure filings that are available
SOURCE Amarc Resources Ltd.
For further information:
For further details on Amarc Resources Ltd., please visit the Company's website at www.amarcresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.