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Amarc Resources Ltd.
Focused on Making an Important Discovery
IKE Copper‐Molybdenum‐Silver ProjectBritish Columbia
Annual General Meeting September 19, 2014
Cautionary and Forward‐Looking Statement Information
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This presentation includes certain statements that may be deemed ʺforward‐looking statementsʺ. All such statements, 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. Assumptions used by the Company to develop forward‐looking statements include the following: Amarc’s projects will obtain all required environmental and other permits and all land use and other licenses, studies and exploration of Amarc’s projects will continue to be positive, and no geological or technical problems will occur. Factors that could cause actual results to differ materially from those in forward‐looking statements include market prices, potential environmental issues or liabilities associated with exploration, development and mining activities, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and tenure and delays due to third party opposition, changes in and the effect of 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 cautionedthat 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 Companyʹs 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.
Technical information contained in this presentation has been reviewed and approved by Mark Rebagliati, P.Eng., a Qualified Person, who is not independent of Amarc Resources Ltd.
Amarc – Corporate Strategy for 2014
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Goal is to Make BC’s Next Major Mine Discovery
Drill the IKE porphyry target to determine if it is a major bulk tonnage copper‐molybdenum‐silver deposit
If so, plan and initiate an effective and holistic corporate business plan to move IKE efficiently forward towards development
The plan to include the acquisition of additional mineral claims surrounding IKE to protect potential infrastructure options and other deposit targets
Amarc – Capital Structure
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Listed TSXV: AHR OTCBB: AXREF
139 million
~19%
$1.3 million
Shares Issued
Management Owns
Working Capital
An HDI Operated Company
HDI – A Leading Explorer, Developer & Operator in BC
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Legacy Projects Golden Bear Mine Mt. Milligan Mine Kemess Mine
Amarc Resources Ltd. IKE Project Newton Project
Constantia Resources Ltd. Maggie Project
Taseko Mines Limited Gibraltar Mine New Prosperity Project Aley Project
Hunter Dickinson Inc. has been successfully exploring, developing and operating mines inBC for over 25 years
IKE – Location and Infrastructure
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50 Kilometres
IKE – An Important Size Deposit Target was Recognized in Late 2013
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Amarc Recognized that the IKE Property Hosts High Potential to Discover an Important
Cu‐Mo‐Ag Deposit within a Short Timeframe
In late 2013 Amarc identified in the literature an impressive porphyry Cu‐Mo‐Ag system
Three historical drill holes had intercepted long intervals of potential ore grade Cu‐Mo‐Ag mineralization with good grade continuity
Site investigation revealed the presence of a major porphyry system as indicated by: widespread Cu‐Mo‐Ag mineralization in historical drill holes
extensive rock alteration, characteristic of significant mines
multi‐stage intrusive activity
multi‐phase Cu mineralizing events
The area of known mineralization and potential extensions are covered by a thin (10‐20 m thick) layer of talus
Amarc optioned the IKE property to acquire up to 100%
IKE – Amarc Negotiated Favourable Property Acquisition Terms
Amarc is the operator of the IKE Property under the terms of an Option Agreement executed July 2014 with two prospector vendors
Amarc will acquire before November 30, 2015 a 100% interest in IKE by:
Completing $1.86 million in exploration expenditures
Making a $40,000 cash payment
Issuing 100,000 shares
An underlying 2% Net Smelter Returns Royalty to the vendors can be purchased for $4 million in cash and/or shares
An underlying 1% Net Smelter Returns Royalty held by a former operator can be purchased for $2 million in cash and/or shares at any time
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IKE – Project is Located 44 Kilometres Northwest of Gold Bridge
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Looking Westerly
IKE
Gold Bridge
LoggingOperations
IKE – Logging Operations are Located 20 Kilometres South of IKE
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Looking Northerly
IKE
LoggingOperations
IKE – A Proactive Approach to First Nations Engagement
Amarc is committed to meaningful engagement with First Nations in our project areas
Amarc is building positive relations with First Nations and a solid record of consultation to assist government in timely and fair regulatory decision‐making
Explore partnerships and negotiate agreements with First Nations
Support government’s consultation duty at the earliest stages (consultation record)
First Nation title claims to the Ike area are not strong Ethnohistorical research completed
First Nations’ asserted rights in the Ike region are well defined and limited in the project area
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IKE – HDI First Nations Agreements
Since 2011, 11 agreements have been signed between Aboriginal groups and HDI companies across Canada for projects at various stages of development
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SKI KM LAX HA NATIONBrigade TSAY KEH DENE FIRST NATION
Taseko
OFFICE OF WET‘SUWET’EN Quartz Mountain
WET’SUWET’EN FIRST NATIONQuartz Mountain
NAZKO FIRST NATIONAmarc
WILLIAMS LAKE INDIAN BANDTaseko
HIGH BAR FIRST NATIONWHISPERING PINES FIRST NATION
Constantia
ST. MARY’S FIRST NATIONASSEMBLY OF FIRST NATIONSCHIEFS OF NEW BRUNSWICKWOODSTOCK FIRST NATIONNorthcliff
IKE – Outside Tsilhqot’in Proven Title and Rights Areas
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Drill Permit located 50 km outside of Title Area
Supreme Court declared Proven Rights were hunting and trapping of animals and birds for work, transport, food, clothing, shelter, crafts and cultural uses. Include the trading of skins and pelts to secure a livelihood.
IKE – View Easterly Across Deposit Target and Surrounding Areas
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Drill Permit Target Area
Looking Easterly
Granite Creek
IKE – From Granite Creek Looking East Across Historical Drill Program Trails at Target Area
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Potential Major PorphyryCu‐Mo‐Ag Deposit
Drill Permit
Granite Creek
IKE – Extensive Mineralized Porphyry System is Evident
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Hole 11‐1Hole 81‐2 Hole 11‐2
Looking Easterly
IKE – “Bulls Eye” Airborne Geophysical Responses Over Target
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Aeromagnetic Survey ZTEM Survey
IKE – Wide‐spaced Historical Drill Holes Indicate Major Discovery Potential
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Hole 11‐2
Hole 11‐1
Talus Covered Area
OPEN
OPEN
OPENHole 81‐2
WEST EAST
Looking Northwesterly
OPEN
Three Key Historical Holes
IKE – Three Key Historical Drill Holes Indicate Expansion Potential
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Hole 11‐1
Hole 11‐2
Hole 81‐1183m @ 0.16% Cu + 0.004% Mo
Talus Covered Area
OPEN
OPEN
OPENOPEN
Hole 81‐2
EAST WEST
Looking Southeasterly
IKE – Three Key Drill Holes Intercepted Significant Cu‐Mo‐Ag Mineralization
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A A1
Copper equivalent calculated with: $3/lb copper, $12/lb molybdenum, $20/oz silver.Copper equivalent for holes 11‐1 and 11‐2 used copper, molybdenum, and silver. Copper equivalent for holes 81‐2 and 81‐1 used copper and molybdenum only.
OPEN OPEN
OPEN
NORTH SOUTH
Looking East
IKE – Three Key Drill Holes Intercepted Significant Cu‐Mo‐Ag Mineralization
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Hole Incl. From (m) To (m) Interval (m) Cu (%) Mo (%) Ag (g/t) *CuEq (%)
11‐1
158 408 250 0.27 0.018 1.8 0.36
lncl. 226 408 182 0.31 0.022 1.9 0.42
and 266 324 58 0.39 0.031 1.9 0.53
11‐2
20 267 247 0.22 0.020 2.3 0.32
Incl. 62 126 64 0.37 0.024 4.7 0.51
Incl. 162 192 30 0.25 0.018 2.8 0.35
Incl. 242 267 25 0.13 0.053 1.0 0.35
81‐2121 304 183 0.25 0.032 N/A 0.38
Incl. 179 295 116 0.29 0.043 N/A 0.46
* Copper equivalent calculated with: $3/lb copper, $12/lb molybdenum, $20/oz silver.Copper equivalent for holes 11‐1 and 11‐2 used copper, molybdenum, and silver. Copper equivalent for hole 81‐2 used copper and molybdenum only.
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Looking East
SOUTHNORTH
Looking East
IKE – A Total of 15 Historical Holes Were Drilled on the Permit Area
IKE – These Mainly Shallow Historical Holes Confirm an Extensively Mineralized Porphyry System
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Hole # Incl. From (m) To (m) Interval (m) Cu (%) Mo (%) Ag (g/t) *CuEq (%)
A‐1 20 102 82 0.26 0.007 0.28
A‐2 12 91 79 0.12 0.003 0.13
PH‐1 18 119 101 0.22 0.007 0.24
PH‐2 12 67 55 0.19 0.005 0.21
PH‐3 9 18 9 0.28 0.010 0.32
PH‐4 9 91 82 0.10 0.007 0.13
72‐1 76 122 46 0.22 0.005 0.24
72‐2 52 91 37 0.28 ‐ 0.28
81‐124 61 37 0.26 0.004 0.27
Incl. 24 43 18 0.32 0.004 0.33
81‐2121 304 183 0.25 0.032 0.38
Incl. 179 295 116 0.29 0.043 0.46
81‐348 149 101 0.15 0.003 0.16
Incl. 48 70 21 0.22 0.008 0.25
81‐4 No reportable intercepts
81‐5 No reportable intercepts
11‐1
158 408 250 0.27 0.018 1.8 0.36
Incl. 226 408 182 0.31 0.022 1.9 0.42
and 266 324 58 0.39 0.031 1.9 0.53
11‐2
20 267 247 0.22 0.020 2.3 0.32
Incl. 62 126 64 0.37 0.024 4.7 0.51
Incl. 162 192 30 0.25 0.018 2.8 0.35
Incl. 242 267 25 0.13 0.053 1.0 0.35
* Copper equivalent calculated with: $3/lb copper, $12/lbmolybdenum, $20/oz silver.
Copper equivalent for holes 11‐1 and 11‐2 used copper, molybdenum and silver. Copper equivalent for all other holes used copper and molybdenum only.
IKE – Soil Geochemical Surveys Indicate Major Cu‐Mo‐AgPorphyry System Open to Expansion
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WEST EAST
500 MetresOPEN
OPEN
OPENOPEN
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220 Metres
IKE – Important Cu‐Mo‐Ag Porphyry System Open to Expansion
WEST EASTSection A’‐AView
IKE – Planned Drilling – Section A‐A1
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A A1
OPEN OPEN
OPEN
NORTH SOUTH
Looking East
Copper equivalent calculated with: $3/lb copper, $12/lb molybdenum, $20/oz silver.Copper equivalent for holes 11‐1 and 11‐2 used copper, molybdenum, and silver. Copper equivalent for holes 81‐2 and 81‐1 used copper and molybdenum only.
IKE – Planned Drilling – Section B‐B1
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B B1
E
OPEN
OPEN
OPEN
WEST EAST
Looking North
Copper equivalent calculated with: $3/lb copper, $12/lb molybdenum, $20/oz silver.Copper equivalent for holes 11‐1 and 11‐2 used copper, molybdenum, and silver. Copper equivalent for holes 81‐2 and 81‐1 used copper and molybdenum only.
IKE – Planned Drilling – Section C‐C1
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C C1
F
OPEN
OPEN
OPEN
WEST EAST
Looking North
Copper equivalent calculated with: $3/lb copper, $12/lb molybdenum, $20/oz silver.Copper equivalent for holes 11‐1 and 11‐2 used copper, molybdenum, and silver. Copper equivalent for holes 81‐2 and 81‐1 used copper and molybdenum only.
IKE – Planned Drilling – Section D‐D1
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D D1
H
OPEN
OPEN
WEST EAST
Looking North
Copper equivalent calculated with: $3/lb copper, $12/lb molybdenum, $20/oz silver.Copper equivalent for holes 11‐1 and 11‐2 used copper, molybdenum, and silver. Copper equivalent for holes 81‐2 and 81‐1 used copper and molybdenum only.
IKE – BC Porphyry Copper Mines and Projects
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Infrastructure! Infrastructure! Infrastructure!
IKE – BC Porphyry Copper Mines HostCuEQ Grades Ranging From 0.32% ‐ 0.54%
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Notes:* Copper equivalent calculated using Cu $3.00/lb, Au $1,250/oz, Mo $12/lb and Ag $20/oz+ Resources estimated at 0.20% copper cutoff. Resources included Measured and Indicated only.
LIMITED HISTORICAL DRILLING AT IKE RETURNED LONG INTERCEPTS OF CONTINUOUS MINERALIZATION
182 m of 0.42% CuEQ @ 0.31% Cu, 0.02% Mo, 1.9 g/t Ag (Hole 11‐1)
116 m of 0.46%CuEQ @ 0.29% Cu, 0.04% Mo (Hole 81‐2)
RESOURCES AND RESERVES AT SELECTED BC MINES AND PROJECTS
Name Million tonnes Cu % Mo % Au g/t Ag g/t *CuEQ%
Red Chris1 288 0.37 ‐ 0.28 ‐ 0.54
New Prosperity2 831 0.23 ‐ 0.41 ‐ 0.48
Mt. Polley3 87 0.29 ‐ 0.30 0.4 0.48
Morrison4 267 0.35 0.005 0.17 ‐ 0.47
Mt. Milligan5 482 0.20 ‐ 0.39 ‐ 0.44
Ajax6 512 0.31 ‐ 0.19 ‐ 0.43
Copper Mountain7 233 0.36 ‐ 0.09 1.3 0.43
Gibraltar (GDP3) 8 802 0.30 0.008 ‐ ‐ 0.33
Valley9 673 0.29 0.008 ‐ ‐ 0.32
Huckleberry3 40 0.34 ‐ ‐ ‐ 0.34
IKE – Porphyry Copper Deposits Often Occur in Clusters
Highland Valley CopperSize and Distribution of Mineralized Zones
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IKE – Amarc has Acquired Mineral Tenures over the District
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Amarc – Now Nearing the Key Point of Entry for Investors
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Lifecycle of a Mining Share
Contact Information
Investor Relations15th Floor Phone: 604‐684‐63651040 West Georgia Street Fax: 604‐684‐8092Vancouver, BC TF: 1‐800‐667‐2114Canada V6E 4H1 Email: [email protected]
Website: www.amarcresources.com
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Appendices
References
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1. Greg Gillstrom P.Eng., Raj Anand, M.Eng. P.Eng., Steve Robertson, P.Geo., “2012 Technical Report on the Red Chris Copper-Gold Project”, February 14, 2012
2. Scott Jones, P.Eng., “Technical Report on the 344 million tonne Increase in Mineral Reserves at the Prosperity Gold-Copper Project”, December 17, 2009
3. Imperial Metals Corporation website – http://www.imperialmetals.com/s/Home.asp
4. Wardrop, “Morrison Copper/Gold Project – Feasibility Study NI 43-101 Technical Report”, March 12, 2009
5. Karla Mills, P.Eng., John Huang, P.Eng., Grant Bosworth, P.Eng., Scott Cowie, MAusIMM, Bruno Borntraeger, P.Eng., Jay Collins, P.Eng., Tim Bekhuys, R.P. Bio, Darin Labrenz, P.Geo., “Technical Report – Feasibility Update Mt. Milligan Property – Northern BC”, October 23, 2009
6. Hassan Ghaffari, P.Eng., Andre De Ruijter, P.Eng., Kenneth Lee, P.Eng., Amir Karami, P.Eng., Ali Farah, P.Eng., Ting Lu, P.Eng., Timothy O. Kuhl, R.M. SME, Ramon Mendoza Reyes, P.Eng., Warren Newcomen, P.Eng., Ken Brouwer, P.Eng., Chris Lee, P.Eng., Irwin Wislesky, P.Eng., “Ajax Copper/Gold Project –Kamloops, British Columbia, Feasibility Study Technical Report”, January 6, 2012
7. Al Chance, P.Eng., Gary Giroux, P.Eng., Peter Holbek, P.Geo., Todd Martin, P.Eng. P.Geo., Donald Murray, P.Eng., Jim O’Rourke, P.Eng., Makram El Saggah, P.Eng., Ian Thompson, P.Eng., “Technical Report on the Copper Mountain Project, Princeton, British Columbia for Copper Mountain Mining Corp.”, August 21, 2009
8. Taseko Mines Limited website – http://www.tasekomines.com/home
9. Teck Resources Limited, “Annual Information Form”, March 5, 2012Teck Resources Limited website –http://www.teck.com/Generic.aspx?PAGE=Teck%20Site/Diversified%20Mining%20Pages/Copper%20Pages/Highland%20Valley%20Copper&portalName=tc
Amarc – Team Has a Track Record of Success
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Robert Dickinson(Executive Chairman)Bob Dickinson is an economic geologist and mining executive who has been active in mineral exploration for over 40 years. He is a member of management and the board of a number of public companies associated with Hunter Dickinson Inc. As the Executive Chairman, he takes an active role in strategic oversight of corporate and project activities for Amarc.
Paul Mann(CFO)Paul Mann is a chartered accountant with more than 15 years of progressive experience in the mining sector, encompassing accounting, regulatory and securities compliance, reporting, treasury and taxation. He leads financial administration and reporting activities for Amarc.
Trevor Thomas (Corporate Secretary)Trevor Thomas has practiced in the areas of corporate commercial, corporate finance, securities and mining law since 1995, both in private practice and in‐house positions. Previously, Mr. Thomas served as in‐house legal counsel to Placer Dome Inc.
Ronald W. Thiessen(President , CEO and Director)Ron Thiessen is a Chartered Accountant with professional experience in finance, taxation, mergers, acquisitions and re‐organizations who has been managing and financing mineral exploration and mining companies since 1986. He is a member of management and the board of a number of public companies including Amarc, for which he has served as President, CEO and director for over 10 years.
Dr. Diane Nicolson(Executive Vice President)Diane Nicolson is a mining executive with a doctorate in geology who has been active in the international minerals exploration and mining industry for over 20 years, working globally on precious and base metals projects. She is responsible for strategic planning and the corporate and project operations of Amarc.
Rene G. Carrier(Director)Mr. Carrier is a past Vice‐President of Pacific International Securities Inc. where he worked for ten years until 1991. Since that time he has been President of Euro‐American Capital Corporation, a private company which specializes in restructuring, administration, and raising venture capital funds for junior mining companies.
Jeffrey Mason(Director)Jeffrey Mason is a Chartered Accountant with 25 years of experience with publicly‐traded mineral companies. His background includes controllership positions at HomestakeMining Group of companies, as well as Chief Financial Officer of Hunter Dickinson. Mr. Mason is currently Chief Financial Officer and a Director of Red Eagle Mining, and he is also a Director of Wellgreen Platinum.
Barry Coughlan(Director)Mr. Coughlan is a self‐employed businessman and financier who has been involved in the financing of publicly traded companies for over 25 years. His principal occupation is President and Director of TBC Ventures Ltd., a private investment company.