VANCOUVER, Dec. 23 /CNW/ - Amarc Resources Ltd. ("Amarc" or the
"Company") (TSX Venture: AHR; OTCBB: AXREF) announces that further to
its news release on December 15, 2010that the Company has reached
agreements in principle to increase the private placement financing
from $7.5 million to approximately $9.9 million on the same terms.
Approximately 47% are flow-through shares at a price of $0.80 per share
and the remainder are non-flow through shares at a price of $0.65 per
share. Insiders of the Company will participate.
Proceeds from the financing will be used to advance core drilling
activities at Amarc's Newton bulk tonnage gold project and to test
copper-molybdenum porphyry targets defined within the Plateau
Gold-Copper Belt, located in south-central British Columbia (BC).
Amarc Resources Ltd. is a Vancouver-based exploration and development
company affiliated with Hunter Dickinson Inc. ("HDI") - a diversified,
global mine development company 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.
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 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. Factors that could cause
actual results to differ materially from those in forward-looking
statements include market prices, exploration and exploitation
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 Amarc Resources
Ltd., investors should review the Company'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.
SOURCE Amarc Resources Ltd.
For further information: 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.