Amarc Resources has completed its previously announced private placement, raising gross proceeds of CAD$20 million through the issuance of 20 million common shares priced at CAD$1.00 each.

The capital injection will fund future exploration expenditures across the JOY District, support working capital and general corporate purposes, handle project investigations, and advance the company's other British Columbia properties, including DUKE and IKE.

In addition to the JOY District, Amarc is advancing the DUKE District under a 60:40 joint venture with Boliden Mineral Canada Ltd., alongside its IKE District. The flagship JOY District hosts the AuRORA Gold-Copper Deposit, which was discovered in 2024 and serves as a central target for ongoing district exploration programs. Amarc is advancing its fully funded 2026 exploration program across the JOY Copper-Gold District in British Columbia's Toodoggone Region, supported by a $20 million budget funded by joint venture partner Freeport-McMoRan.

“While the importance of the AuRORA Gold-Copper Deposit continues to come into focus, the institutional investors that participated in the Offering also see the broader Tier 1 potential of the JOY District in which AuRORA is located,” said Amarc President and CEO Diane Nicolson. “Amarc believes AuRORA, a deposit with strong gold and copper grades in the near surface environment, continuity of mineralization, positive geometry, and growing scale, is not only important to unlocking the potential of the JOY District, but may well stand to be the key to the future development of the Toodoggone Region. I want to thank Amarc's existing investors that participated in the Offering for their continued vision and welcome the new investors who have joined us to realize the full potential of our three copper-gold districts - JOY, DUKE and IKE.”

— Diane Nicolson, President and CEO

Under Canadian securities laws, the shares issued under the placement are subject to a four-month and one day hold period expiring on January 10, 2027. Agentis Capital Mining Partners acted as financial advisor to the company for the transaction.

Read the full announcement: Amarc Closes Fully Subscribed CAD$20 Million Private Placement Financing