Newton joint venture agreement executed
VANCOUVER, July 13, 2011 /CNW/ --
VANCOUVER, July 13, 2011 /CNW/ - Amarc Resources Ltd. ('Amarc') (TSXV:
AHR) (OTCBB: AXREF) and Newton Gold Corp. ('Newton Gold') (TSXV:NWG) are pleased to announce that the companies have entered into a Joint
Venture Agreement ('JV Agreement') to further explore the Newton
property, located in south-central British Columbia. Amarc has earned
an 80% interest in an expanded Newton property by funding $5 million
dollars in exploration expenditures.
The companies have also agreed to incorporate adjacent mineral claims
into the JV Agreement, resulting in a project area totaling 284 mineral
claims and approximately 1,480 square kilometres. A property location
map is posted on Amarc's website at http://www.amarcresources.com/ahr/MapsFigures.asp. Amarc will continue to be the operator of the property.
The Newton Joint Venture property holds significant potential for the
discovery and development of epithermal gold and gold-copper porphyry
type deposits. It is located some 100 kilometres southwest of the City
of Williams Lake in a region characterized by subdued topography
favourable for development. The district is well-served by existing
transportation and power infrastructure and a skilled workforce, which
support a number of operating mines and late-stage development projects
in the region.
Amarc Resources Ltd. is a Vancouver-based exploration and development
company affiliated with Hunter Dickinson Inc. (HDI) - a diversified,
global mine development company with a 25-year history of mineral
development success. Previous HDI projects in BC include Golden Bear,
Mt. Milligan, Kemess, Gibraltar, Prosperity and Harmony. From its head
office in Vancouver, Canada, HDI applies its unique strengths and
capabilities to acquire, develop, operate and monetize mineral
properties to provide consistently superior returns to shareholders.
Newton Gold Corp. is a British Columbia focused exploration company with
two advanced exploration projects. The Company has an experienced
management team with a growth strategy to develop a diversified
portfolio of mining projects that can be taken into production. The
company's main objective is to add shareholder value through efficient
exploration, strategic acquisitions and joint ventures, and effective
marketing while maintaining a lower risk profile through project
diversification and sound financial management.
ON BEHALF OF THE BOARDS
Ronald W. Thiessen Mark A. McLeary
President & CEO President & CEO
Amarc Resources Ltd. Newton Gold Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Forward Looking and other Cautionary 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 exploration drilling,
exploitation activities and other related events or developments 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, exploration and exploitation
successes, continuity of mineralization, uncertainties related to the
ability to obtain necessary permits, licenses and title and delays due
to third party opposition, changes in government policies regarding
mining and natural resource exploration and exploitation, continued
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 actual results or
developments may differ materially from those projected in the
forward-looking statements.
For more information on Amarc Resources Ltd., investors should review
the Amarc's annual Form 20-F filing with the United States Securities
and Exchange Commission at www.sec.gov and its home jurisdiction filings that are available at www.sedar.com.
For further information on Newton Gold Corp., see Newton Gold's filings
on www.sedar.com.
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Amarc Resources Ltd. Tel: 604 684-6365 Toll Free 1 800 667-2114 www.amarcresources.com | Newton Gold Corp. Tel 604 678 - 2531 www.newtongold.com |