VANCOUVER, Jan. 26 /CNW/ - Amarc Resources Ltd. ("Amarc" or the
"Company") (TSX-V: AHR, OTCBB: AXREF) announces that the Company has received
$1.5 million in cash from the British Columbia Mining Exploration Tax Credit
The METC initiative was introduced by the BC Government to stimulate new
economic activity in the province and includes an enhanced credit for mineral
exploration in areas affected by the mountain pine beetle infestation. The
pine beetle infestation has affected an area of approximately 13.5 million
hectares and has had a significant impact on the Province's forestry industry.
Since 2004, Amarc has spent in excess of $20 million on its BC initiative with
exploration activities largely focused within the pine beetle affected areas.
The objective of Amarc's BC program is to discover the next major metals mine
in the Province.
Recent exploration activities by Amarc in the Sitlika Belt of central BC
have led to the discovery of a number of new, extensive felsic volcanic
centers associated with strongly anomalous copper and zinc signatures, which
are highly prospective for the discovery of base metal-rich volcanogenic
massive sulphide deposits. The promising Huge South target, located in the
northern sector of the Sitlika Belt (also described in the Company's November
24, 2008 news release), is defined by an approximately 5 kilometer in length
strong copper-in-soil anomaly that remains open and by an initial induced
polarization geophysical survey. The Huge South target is to be tested during
the 2009 field season.
Amarc Resources Ltd. is a Vancouver-based exploration and development
company, focused on making the next major new mineral deposit discovery in the
province of British Columbia. Amarc is affiliated with Hunter Dickinson
Services Inc., the personnel and management of which have enjoyed considerable
success in BC through their involvement with the Golden Bear, Mt. Milligan,
Kemess, Prosperity, Gibraltar and Harmony deposits. Hunter Dickinson expects
to further its B.C. success through Amarc.
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 content of
ON BEHALF OF THE BOARD
Ronald W. Thiessen
President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.
Cautionary and Forward Looking Statement 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 possible future exploration
results, resource potential or developments that Amarc expects to occur 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, effect of and changes to government
policies regarding mining and natural resource exploration and exploitation,
availability of capital and financing, geopolitical uncertainty and political
and economic instability, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees of future
performance and those 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 annual Form 20-F filing
with the United States Securities and Exchange Commission and its home
jurisdiction filings that are available at www.sedar.com.
For further information:
For further information: 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