Amarc Resources Advances with Freeport's Stage 2 Investment at JOY Project

Amarc Resources Ltd. announced that Freeport-McMoRan Mineral Properties Canada Inc. has progressed to Stage 2 of the JOY Mineral Property Earn-in Agreement. Having completed Stage 1 with CAD $35 million spent, Freeport now holds a 60% interest in Aurora Minerals Ltd., the joint venture overseeing JOY District rights. Under Stage 2, a further CAD $75 million over five years will allow Freeport to increase its stake by 10%. Notably, Amarc remains the main contractor managing JOY's exploration.

The focus is the AuRORA Deposit in the JOY District, a promising porphyry copper-gold-silver site discovered in 2024. Freeport's commitment underscores its value, with plans for extensive drilling to exploit the site's potential. Amarc CEO Diane Nicolson highlighted the importance of this development, aiming to unlock further mineral value in the region.