VANCOUVER, Nov. 21, 2016 /PRNewswire/ - Amarc Resources Ltd. ("Amarc" or the "Company") (TSX-V: AHR; OTCBB: AXREF) is pleased to announce it plans to acquire a 100% interest in two important-scale porphyry copper deposit targets located in north-central and central British Columbia ("BC") respectively, known as JOY and DUKE. Both properties represent significant potential for the discovery of porphyry copper-gold and copper-molybdenum deposits. Along with Amarc's IKE porphyry copper-molybdenum deposit and the promising porphyry copper (± gold ± molybdenum ± silver) deposit targets proximal to the IKE discovery, JOY and DUKE will serve to diversify and strengthen the Company's portfolio of quality porphyry projects. The JOY porphyry copper-gold deposit target lies some 15 km north of the productive Kemess porphyry gold-copper district, where Northgate Minerals produced 3 million ounces of gold and 784 million pounds of copper over a 12-year period to 2010 1 (Kemess South), and AuRico Metals recently announced a 628 m intercept grading 0.53 g/t Au and 0.41% Cu 2 (Kemess East). The Kemess District is well-known to Amarc's technical team as Hunter Dickinson Inc. ("HDI"), with whom Amarc is associated, is credited as the first company to recognize its true porphyry potential - acquiring both the early-stage Kemess South and Kemess North prospects and advancing them into significant porphyry copper-gold deposits. Additionally, three past-producing silver-gold mines occur just 10 to 20 km west of JOY. The Lawyers, Baker and Shasta precious metal mines produced a total of 5.5 million ounces of silver and 234,000 ounces of gold from epithermal veins, stockworks and breccias between 1989 and 2000 3. The DUKE deposit target is located within the well-known Babine porphyry-copper district, just 30 km north of former mines (Bell and Granisle) operated by Noranda Minerals Inc. between 1966 and 1992, producing a total of 1.1 billion pounds of copper, 634,000 ounces of gold and 3.5 million ounces of silver 4. DUKE is also just 10 km northeast of the Morrison Deposit, a 225 million tonne copper-gold-molybdenum porphyry deposit with a completed Feasibility Study 5. Amarc has entered into two separate transactions - one with a company owned by director Robert A. Dickinson, and the other directly with Robert A. Dickinson. The first is for the purchase of a 100% working interest in the JOY and DUKE porphyry copper deposit targets. The two projects are being acquired at the vendor's direct costs of $492,639. In order to fund these acquisitions, Amarc has signed a Loan Consolidation Agreement with Mr. Dickinson, pursuant to which a previous two-year loan of $1 million coming due November 26, 2016 has been extended for three years on customary conditions, and increased to $1.5 million. The Loan remains unsecured and will bear interest at a rate of 9% per annum. Amarc will issue a Loan bonus of 10,000,000 three-year term common share purchase warrants with an exercise price of $0.08 per share. Both of the transactions are subject to regulatory approval. JOY PROPERTY The JOY property is located 310 km north-northwest of Mackenzie in an area of moderate topography in the prolific Kemess porphyry belt of the Toodoggone Region of north-central B.C. The 7,200-hectare property is accessed by seasonal roads or helicopter from the Kemess Mine Site, located approximately 25 km due south. Seasonal roads to the nearby Pine and Brenda porphyry copper deposits come within 2.0 km and 0.5 km, respectively, of the JOY property boundary. Recorded work by various past operators on the JOY claims began in 1968 and continued intermittently through to 2004. Over 2,000 soil samples, 840 rock samples and 30 silt samples were collected, but no ground geophysical surveys or drilling have been done, and there has been little geological mapping.