News

News

Review of Second Quarter and Outlook for Third Quarter, 2013

Vancouver, Canada – August 6, 2013 – Bradford Cooke, Chairman and CEO of Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN), is pleased to provide the following review of Canarc’s progress in the 2nd Quarter, and its plans for the 3rd Quarter, 2013.

Q2 Review

Q3 Outlook

Bradford Cooke, Chairman and CEO, commented, “Gold prices appear to have completed a round trip from $1300 per oz in August, 2010 to $1900 per oz in August 2011 and back to $1300 per oz today, a harsh reminder of how volatile the precious metals have become.  But the bottom of this correction now appears to have been put in, and our outlook is for a modest recovery to year-end.”

"With continuing record government debts and deficits in the United States, Europe and Japan, and only modest economic recoveries to date, global investors recognize that quantitative easing cannot continue at the same pace, and the U.S. dollar, equity and bond markets may be topping. Gold could resume its role as a hedge against financial crisis and currency debasement in the near-term.”

"In this market environment, Canarc management continues to generate expressions of interest from prospective partners for the development of the New Polaris gold mine project, as well as seeking attractive acquisition opportunities in the gold mining sector that can be financed by partners or debt."

Canarc Resource Corp.
Per:

“Bradford J. Cooke”

Bradford Cooke
Chairman and CEO

About Canarc Resource Corp. - Canarc Resource is a growth-oriented, gold exploration and mining company listed on the TSX (CCM) and the OTC-BB (CRCUF).  The Company is currently seeking to advance its 1.1 million oz, high grade, underground, New Polaris gold mine project in British Columbia to the feasibility stage, and to acquire its first operating gold mine in North America.  Canarc is also focused on finding partners to explore its Windfall Hills gold properties in central BC and the Tay LP gold property in the Yukon Territory.

For More Information - Please contact:
Gregg Wilson, Vice-President (Investor Relations), or Maelle Trevedy, Investor Relations Assistant
Toll Free: 1-877-684-9700
Tel: (604) 685-9700
Fax: (604) 685-9744
Email: info@canarc.net
Website: www.canarc.net

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward‑looking statements and information herein include, but are not limited to, statements regarding Canarc’s future performance, including anticipated acquisitions, exploration, development, production, revenues, cash costs, capital costs, timing and expenditures to develop new mines and mineralized zones, gold grades and recoveries, and the use of the Company’s working capital. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.

News


Downloads

Presentation

Email Signup

Sign up for the latest news and updates