Business
Amarc To Divest Of Newton Gold Property
VANCOUVER, BC / ACCESSWIRE / December 9, 2020 / Amarc Resources Ltd. ("Amarc" or the "Compan...
About this update from Amarc Resources Ltd.
[{"type":"text","content":"Amarc To Divest Of Newton Gold PropertyVANCOUVER, BC / ACCESSWIRE / December 9, 2020 / Amarc Resources Ltd. (\"Amarc\" or the \"Company\") (TSX-V:AHR)(OTCQB:AXREF) announces that it has entered into an agreement to sell its Newton Property (the \"Property\") located in south-central British Columbia to an arm's length private company, which is currently considering going-public alternatives. Under the terms of the agreement, Amarc will receive $300,000 in cash and 5.5 million equity units (share plus warrant) in the private company valued at $0.25 per unit. In addition, Amarc will retain a 2% NSR Royalty in the Property. Further updates will be provided as the private entity achieves listing.About Amarc Resources Ltd.Amarc is a mineral exploration and development company with an experienced and successful management team focused on developing a new generation of BC porphyry copper-gold mines. By combining strong projects and funding with successful management, Amarc has created a solid platform to create value from its exploration and development-stage projects.Amarc is advancing the 100%-owned IKE, DUKE and JOY porphyry copper-gold deposit projects located in different prolific porphyry districts in southern, central and northern BC, respectively. Each of the three projects is located in proximity to industrial infrastructure - including power, highways and rail. These projects represent significant potential for the development of multiple and important-scale, porphyry copper-gold deposits.Amarc is associated with HDI, a diversified, global mining company with a 30-year history of porphyry discovery and development success. Previous and current HDI projects include some of BC's and the world's most important porphyry deposits - such as Pebble, Mount Milligan, Kemess South, Kemess North, Gibraltar, Prosperity, Xietongmen, Newtongmen, Florence, Casino, Sisson, Maggie, IKE and Pine. From its head office in Vancouver, Canada, HDI applies its unique strengths and capabilities to acquire, develop, operate and monetize mineral projects.Amarc works closely with local governments, indigenous groups and other project stakeholders in order to advance its mineral properties responsibly, and to do so in a manner that contributes to sustainable community and economic development. Amarc senior management and project teams seek early and mean...