Corporate Profile

Canarc Resource Corp. (CCM: TSX, CRCUF: OTC-BB, CAN: Frankfurt) is a growth-oriented gold exploration and mining company focused on the discovery and development of gold deposits in North America.  Catalysts for growth in 2013 include 1) securing a financial partner to advance Canarc's main asset, the 1.1 million oz high-grade New Polaris gold mine project through mine development and a feasibility study; 2) raising the funds to drill high priority gold targets on the prospective Tay LP and Windfall Hills properties; and 3) evaluating merger and acquisition opportunities to grow its gold exploration and mining portfolio in North America.

INVESTOR INFORMATION

GOLD PROJECTS

New Polaris - Canarc's core asset is the 100% owned, past-producing, high-grade New Polaris gold mine project located in north-western British Columbia. Based on an updated NI 43-101 resource estimate using a 6 gpt gold cutoff grade, the property currently contains measured and indicated resources of 519,000 oz gold contained in 1,288,000 tonnes grading 12.5 gpt gold and inferred resources totaling 636,000 oz gold contained in 1,628,000 tonnes grading 12.2 gpt gold, still open for expansion in other veins and at depth.  Drill results from the last exploration program included 44.7 gpt over 6.2 m (1.30 opt over 20.3 ft) and 23.1 gpt over 16.5 m (0.67 opt over 54.1 ft). 

Using a US$1400 per oz gold price, $1.00 CA/$US exchange rate, US$481 per oz cash costs and 7 gpt cut-off grade, a 72,000 oz per year gold mine at New Polaris has a discounted (5%) after-tax Net Present Value of US$195 million with an Internal Rate of Return (IRR) of 42.8% and a 1.85 year Payback Period on capital.  Canarc is now seeking a financial or operating partner to complete pre-production mine development, infill drilling, environmental studies, feasibility study, government permitting, and project construction to achieve production within three years.  

Tay-LP - Canarc holds an option to purchase a 100% interest in the Tay-LP gold property, well located within the Tintina Gold Belt in south-central Yukon where several exciting new gold discoveries have recently been made.  The Tay-LP property consists of 413 claims covering a 20 km-long by 4 km-wide belt of gold prospects (8,000 hectares) on which several million dollars have been spent on exploration since 1984.  The property enjoys good road access, favourable gold geology, multiple exploration targets, historic drill intercepts and strong potential to expand the known gold zones and make new gold discoveries. 

Canarc's last drill program successfully extended the gold mineralization along strike and/or down dip from three areas with previous drill intercepts on the property. Drilling highlights include 3.6 gpt gold over 24.3 m, 1.3 gpt gold over 31.8 m and 4.0 gpt gold over 10.5 m.  In 2010, a 470 km airborne geophysical survey was completed, several new EM conductors and magnetic anomalies were identified in prospective geological settings, and drilling of the new high priority targets is planned in 2012 subject to financing. 

Windfall Hills - In 2011, Canarc acquired the Windfall Hills gold project (3879 hectares), located 90 km northwest of New Gold's exciting new 7.8 million oz Blackwater gold discovery in central BC. Windfall Hills is situated within the same geological setting as the Blackwater gold discovery and covers similar gold mineralization associated with quartz stock-works and alteration zones in Tertiary volcanic rocks. Canarc completed systematic soil geochemical sampling last year to define two gold-silver geochemical soil anomalies flanking two geophysical resistivity anomalies that are considered to be high priority targets for drilling in 2012. 

The Company also staked three additional gold properties called Devils Thumb, Devils Thumb East and Windfall Hills East totaling 15,175 hectares north and east of the Windfall Hills project and plans to carry out reconnaissance mapping and sampling this year.

MANAGEMENT AND DIRECTORS

Bradford Cooke, M.Sc, P.Geo., Chairman and CEO, is the Founder of Canarc Resource and Endeavour Silver, with 36 years of experience as a professional geologist, manager and executive in the mining sector, including mineral exploration/project management for Shell, Chevron, Noranda, others, and executive management/corporate development for Canarc, Endeavour, Caza, others.

Garry Biles, P. Eng., President and COO, is a professional engineer with 38 years of experience who has built and operated gold mines across Canada and Costa Rica for Homestake, Glencairn, others, including 16 years as general manager of 4 producing gold mines.

James Moors, B.Sc., P.Geo., VP Exploration, is a professional geologist with 26 years of experience in the mining sector, specializing in exploration for and discovery of precious metal deposits with Homestake, Canarc, Endeavour, others.

Philip Yee, MBA, CPA, VP Finance and CFO, is a professional accountant with over 26 years of experience in various corporate, operating and management roles for public companies with mineral exploration and mining projects in the Americas and in Asia.

Gregg Wilson, M.SCI., VP Investor Relations, is an investor relations professional with over 15 years of experience in the resource sector and an extensive prior background in corporate and non-profit administration and management.

Leonard Harris, P.Eng., Director, is a retired metallurgical engineer who was President of Newmont Peru responsible for the development of the huge Yanacocha mine.

William Price, Director, is the retired Chief Investment Officer for Allianz Global Investors, one of the largest global investment fund companies with over US$500 billion under management.

Bruce Bried, P.Eng., Director, is a professional engineer with 38 years of experience operating high grade, underground gold-silver mines, including Homestake, Kinross, Dickenson, others.

CONTACT INFORMATION