800 West Pender Street, Suite 1020
Vancouver, British Columbia
Canada V6C 2V6
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
By: /s/ Jeffrey R. Mason
Director and Chief Financial Officer
Date: August 17, 2004
* Print the name and title of the signing officer under his signature
--------------------------
AMARC RESOURCES LTD.
1020 - 800 W Pender St.
Vancouver BC
Canada V6C 2V6
Tel 604 684 - 6365
Fax 604 684 - 8092
Toll Free 1 800 667 - 2114
http://www.hdgold.com
AMARC CLOSES ACQUISITION OF BC PROPERTY WITH
GOLD-COPPER-MOLYBDENUM PORPHYRY DEPOSIT TARGET
August 17, 2004 , Vancouver , BC -
Ronald W. Thiessen, President and CEO of Amarc Resources Ltd. (TSX Venture:
AHR, OTCBB: AXREF) is pleased to announce that Amarc has completed the previously
announced agreement, whereby it will acquire a 100% interest in the Spius
property. The property is located in the Nicola region of south central British
Columbia, near the town of Merritt.
The Spius target has a porphyry signature - an extensive (500 metres by 600
metres) open-ended copper-in-soil anomaly, with associated molybdenum values
and is situated near two, large (500 metres by 1,200 metres) induced polarization
chargeability anomalies. The property is situated in a geological setting
similar to areas that host major copper-gold porphyry mines in British Columbia.
One of these, the Copper Mountain gold-copper deposit at Princeton, produced
170 million tonnes grading 0.58% copper and 0.17 g/t gold.
Very limited drilling has been done on the Spius property but this work did
not probe the prospective copper-in-soil anomaly. Amarc plans to initiate
exploration at the property with the objective of advancing the target to
the drill ready stage.
Amarc can acquire its interest in the Spius property by making staged cash
payments totaling $35,000 and issuing 80,000 common shares over three years
to two arm's length vendors. The property is also subject to a 2% NSR,
which Amarc, at its option, can purchase for $2.0 million. The first option
payment of 10,000 shares has been made. All the shares issued in the agreement
bear a hold period legend until December 1, 2004 and there were no finder's
fees paid in connection with the agreement.
With a working capital position of over $13 million, Amarc is advancing its
focused effort to make major new mineral deposit discoveries in British Columbia.
Guided by Hunter Dickinson management and senior staff, who have made previous
discoveries in BC, Amarc's exploration team is assembling a portfolio
of key projects. Field surveys of numerous high priority targets are currently
underway.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ Ronald W. Thiessen
Ronald W. Thiessen
President and CEO
No
regulatory authority has approved or disapproved the information contained
in this news release.
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 future production, reserve
potential, 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, 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 that 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 Commission.