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Amarc Acquires Options from Gold Fields and Cascadero to Purchase PINE Porphyry Copper-Gold Property, BC
Amarc Acquires Options from Gold Fields and Cascadero to Purchase PINE Porphyry Copper-Gol...
About this update from Amarc Resources Ltd.
[{"type":"text","content":"\n\n\n\nAmarc Acquires Options from Gold Fields and Cascadero to Purchase PINE Porphyry Copper-Gold Property, BC\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Aug. 29, 2017\n\n\n\nVANCOUVER, Aug. 29, 2017 /CNW/ - Amarc Resources Ltd. (\"Amarc\" or the \"Company\") (TSX-V: AHR; OTCBB: AXREF) is pleased to announce that option agreements have been concluded with each of Gold Fields Toodoggone Exploration Corporation (\"GFTEC\") and Cascadero Copper Corporation (\"Cascadero\") which enable Amarc to purchase 100% of the 323 square km PINE mineral property (the \"Property\").\n\nThe PINE property is located adjacent to the south of Amarc's JOY property and adjacent to the north of AuRico Metal's Kemess District developments in the Toodoggone, British Columbia (\"BC\"); a region considered to have high potential for the discovery of important scale, porphyry copper-gold deposits. Combining the JOY and PINE mineral claims along with recently staked adjoining claims creates a consolidated, 464 km2 mineral property.  An updated corporate presentation is available on Amarc's website at www.amarcresources.com.\n\nAgreement with Gold Fields\n\nAmarc's wholly-owned subsidiary (\"Amarc Subco\") has entered into an option agreement with GFTEC (the \"GFTEC Agreement\") pursuant to which Amarc Subco obtained the option (the \"Option\") to acquire all of GFTEC's 51% interest in the Property.  \n\nAmarc Subco can exercise the Option at any time within four years from the date of the GFTEC Agreement (the \"Option Period\") by completing the public listing of Amarc Subco on the TSX Venture Exchange and issuing to GFTEC securities in the capital of that Company so that GFTEC holds 15% of the shares and 15% of any warrants on issue (on a fully diluted basis) following completion of the listing.  GFTEC has the right to maintain its 15% pro rata interest through participation in future fundraisings and other share issuances.\n\nTo maintain the right to exercise the Option at any time over up to the four-year Opt...