Amarc Resources Ltd. (TSX-V:AHR) and Falkirk Resources Corp. (TSX-V:FLK) have signed an option and joint venture agreement to develop Amarc's Big Time copper and molybdenum project in north-central B.C.
Under the terms of the agreement between the two Vancouver companies, Falkirk can earn a 50% interest in the Big Time property by committing to issue Amarc 200,000 Falkirk shares and funding $900,000 in exploration costs by year's end.
While Amarc will continue to act as the mine's operator, the two companies will enter into a joint venture once the agreement is exercised.
Amarc's share price range during the past week: between $0.195 and $0.25; 52-week high: $0.71; 52-week low: $0.07.
Falkirk's share price range during the past week: between $0.15 and $0.21; 52-week high: $3; 52-week low: $0.08.