Amarc to Acquire Major Gold-Copper Porphyry Deposit Target.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--May 10, 2004 Ronald W. Thiessen, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Amarc Resources Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AHR AHR Aryl Hydrocarbon Receptor AHR American Historical Review (Journal of the American History Association) AHR Anchor AHR airway hyper-responsiveness AHR Assisted Human Reproduction AHR Air-Conditioning Heating Refrigeration ) is pleased to announce that the Company has entered into an option agreement with the Iskut North Syndicate to acquire a 100% interest in the Wolverine wolverine or glutton, largest member of the weasel family, Gulo gulo, found in the northern parts of North America and Eurasia, usually in high mountains near the timberline or in tundra. gold-copper porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. property located in northern British Columbia. Amarc can acquire its interest by making staged cash payments totalling $225,000 and issuing 450,000 common shares over four years. The first option payment of $15,000 and 30,000 shares is due upon approval by the appropriate regulatory bodies. The property is also subject to a 2% NSR NSR abbr. normal sinus rhythm NSR Normal sinus rhythm, see there , which Amarc, at its option, can purchase for $2.0 million. The 64 square kilometre Wolverine property is situated along the Golden Bear Mine road, 40 kilometres northwest of the community of Telegraph Creek. It covers a large-scale gold-copper porphyry target in a geologic setting similar to that which hosts the Galore Creek deposit (Indicated Resource of 286 million tonnes, grading 0.73% copper and 0.44 g/t gold, containing 4.6 billion pounds copper and 4 million ounces gold, cut-off grade 0.5% CuEq - Novagold Resources Inc., News Release, May 5, 2004) and the Red Chris deposit (Measured and Indicated Resource of 236 million tonnes, grading 0.46% copper and 0.37 g/t gold, containing 2.4 billion pounds copper and 2.8 million ounces gold, cut-off grade 0.3% Cu - bcMetals Corporation, News Release, January 19, 2004). Past work on the Wolverine Property has identified a very extensive gold and copper, soil geochemical anomaly which measures 4700 metres long and up to 2100 metres wide. This major target is associated with a large regional airborne magnetic high and a favourable intrusive contact in an area of almost no outcrop exposure. The gold-copper soil anomaly, which was identified during the course of a 1990 reconnaissance style soil sampling program (samples taken every 300 metres on lines spaced 200 metres apart), was largely ignored as the emphasis at that time was on high-grade gold targets similar to the nearby Golden Bear Mine. Limited prospecting associated with the soil surveys noted finely disseminated pyrite pyrite (pī`rīt) or iron pyrites (pīrī`tēz, pə–, pī`rīts), pale brass-yellow mineral, the bisulfide of iron, FeS2. in volcanic rocks and pyrite, chalcopyrite and magnetite magnetite (măg`nətīt), lustrous black, magnetic mineral, Fe3O4. It occurs in crystals of the cubic system, in masses, and as a loose sand. in intrusive rocks, all of which are highly indicative of a gold-copper porphyry setting. Amarc plans to conduct an aggressive exploration program consisting of approximately 200 line kilometres of geochemical grids and 100 line kilometres of geophysical surveys (induced polarization and magnetics) to rapidly advance this significant yet untested major gold-copper target to the drill stage. Drilling is expected to follow. ON BEHALF OF THE BOARD OF DIRECTORS "signed" Ronald W. Thiessen, President & CEO |
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