Amarc Resources (TSX-V:AHR) is seeking about C$20 million ($20.2 million) through a private placement to help advance its copper-gold portfolio in British Columbia, Canada.
The company plans to issue approximately 20 million shares at C$1 each, with institutional investors expected to lead the financing.
Amarc is targeting completion in early September, subject to definitive subscription documents, receipt of funds, and TSX Venture Exchange approval. The shares will carry a four-month-and-one-day statutory hold period in Canada.
Proceeds will support any future expenditure required at the Joy Copper-Gold District, along with work at the Duke and Ike districts. Funds will also be allocated to working capital, general corporate purposes, and project investigations.
At Joy, a subsidiary of Freeport-McMoRan (NYSE:FCX) earned an initial 60% interest after funding C$35 million of exploration under an accelerated earn-in agreement.
Freeport has elected to increase its stake to 70% by funding a further C$75 million in staged expenditure. The district is held through Aurora Minerals (ASX:ARM), currently owned 60% by Freeport and 40% by Amarc.
Although Freeport is the operator, Aurora Minerals has appointed Amarc as the primary contractor managing exploration under a separate services agreement. Amarc completed a program valued at more than C$16 million in 2025, including expansion drilling at the Aurora deposit and testing of other targets.
At Duke, a Canadian subsidiary of Boliden (STO:BOL) funded C$30 million of exploration through the end of 2025. The companies have since formed a 60:40 joint venture, with Amarc remaining operator.
Amarc retains full ownership of the Ike Copper-Gold District in southern British Columbia, where it completed self-funded drilling at the Empress deposit in 2024.
Amarc is a Canadian exploration company focused on large-scale porphyry copper–gold systems across the Joy, Duke, and Ike districts in British Columbia.
Write to France Pinzon at Mining.com.au
Images: Amarc Resources
