Private Placement

December 22, 2017 at 16:00 PM EST

Tickers: XTSX:PAV.H, XTSE:PAV.H
Tags: Mining

Vancouver, BC / December 22, 2017 / TheNewswire - PACIFIC ARC RESOURCES LTD. (the "Company") (TSXV-NEX: "PAV.H") wishes to announce that it has closed its previously announced non-brokered private placement of units for $500,000 in gross proceeds. The financing consisted of up to 4,166,649 units (the "Units") at a price of $0.12 per Unit. Each Unit is comprised of one common share in the capital of the Company and one non-transferable share purchase warrant (the "Warrants"). Each Warrant forming a part of the Units will entitle the holder thereof to acquire one additional common share of the Company at a price of $0.15 per share at any time prior to the date that is 12 months from the date of issuance.

Net proceeds from the financing will be utilized to explore possible acquisitions and for general working capital purposes.

For further information, please contact:

Harry Chew, President
Phone: (604) 689-2646

ON BEHALF OF THE BOARD OF DIRECTORS

s/ "Harry Chew"

Harry Chew,

President and Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release may contain forward-looking statements including expectations of future production, cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to: the risks associated with the mining industry (e.g., operational risks in development, exploration, and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses; and health, safety, and environmental risks), commodity price and exchange rate fluctuations, and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.