Canarc Resource Corp. Corporate Profile URL: http://canarc.net/overview/corporate_profile/index.php?content_id=77&page_number=1 Content was created on: May 26, 2006   Canarc Resource Corp. (CCM: TSX, CRCUF: OTC-BB, CAN: DBF) is a growth-oriented gold exploration and mining company focused on the acquisition, discovery and development of strategic gold deposits in North, Central and South America.  By seeking a partner to develop its principal asset, the high-grade New Polaris gold mine project in BC, towards feasibility and production and by exploring the attractive new Tay-LP gold project in the Yukon, Canarc aims to deliver resource growth and enhance shareholder value. INVESTOR INFORMATION (January 2010) Shares Issued 81.8 million Closely Held 20.0 million Warrants and Options 8.7 million Fully Diluted 93.9 million Share Price CA $0.10 - $0.20 Working Capital CA $0.10 million GOLD PROJECTS Developing New Polaris – Canarc’s core asset is the 100% owned, past-producing, high-grade New Polaris gold mine project located in north-western British Columbia. Based on an updated NI 43-101 resource estimate using a 6 gpt gold cutoff grade, the property currently contains measured and indicated resources of 519,000 oz gold contained in 1,288,000 tonnes grading 12.5 gpt gold and inferred resources totaling 636,000 oz gold contained in 1,628,000 tonnes grading 12.2 gpt gold, still open for expansion in other veins and at depth.  Drill results from the 2006 exploration program include 44.7 gpt over 6.2 m (1.30 opt over 20.3 ft) and 23.1 gpt over 16.5 m (0.67 opt over 54.1 ft).   The 2007 work program included dewatering the old mine, mapping and sampling the lowermost mine levels, conducting metallurgical test-work and environmental surveys, and completing a preliminary economic assessment for an 80,000 oz per year gold mine.  Simple flotation test-work returned gold recoveries into a bulk sulphide concentrate averaging 91%.  In 2008, the economics were optimized based on a concentrate off-take term sheet received from Newmont offering to pay 90% of the contained gold. In an updated NI 43-101 preliminary economic assessment report (“PEA”) by Moose Mountain Technical Services (Moose Mountain”) project economics have been significantly improved. Higher gold prices appear to have a significant positive impact on the New Polaris gold mine project. Using new base case parameters for the gold price ($US 900 per oz), $CA /$US exchange rate (0.95) and cash costs (US$383 per oz), the updated PEA generates a discounted (5%) after-tax Net Present Value (“NPV”) of CA$68.6 million with an after-tax Internal Rate of Return (“IRR”) of 25.8% and a 2.7 year pay-back period. Canarc is now seeking a partner to pursue a feasibility study, government permitting, and project construction to achieve production within three years. Exploring Tay-LP – Canarc recently acquired an option to purchase the Tay-LP gold property well located within the Tintina Gold Belt in south-central Yukon.  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.  The 2009 drill program successfully extended the gold mineralization along strike and/or down dip from three areas with previous drill intercepts on the property. Historic 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. Gold mineralization at Tay-LP is somewhat similar to other recent gold discoveries within the Tintina Gold Belt, such as the Rau property of Atac Resources and the Ketza River gold deposit of Yukon-Nevada Gold, located only 18 km east of TAY-LP. Gold is associated with sulphide minerals (mainly pyrrhotite) in quartz breccias (containing elevated bismuth and tellurium) replacing favourable structures and strata within Cambro-Ordovician calcareous phyllites and marbles proximal to Cretaceous quartz monzonite stocks and sills. Acquiring New Projects – The Company is actively evaluating several attractive gold projects for acquisition in the US and Canada.  Canarc also has 11% shareholdings in each of Aztec Metals Corp. that is acquiring base metal mine projects in Mexico and Caza Gold Corp. that is exploring attractive gold properties also in Mexico. MANAGEMENT AND DIRECTORS Canarc’s management and directors have extensive mining experience and successful track records for discovering ore deposits and developing them into production. Barrick Gold is a shareholder.  Bradford Cooke, M.Sc, P.Geo., Chairman and CEO, is a professional geologist with 32 years experience in project management and financing, including Shell, Chevron, Noranda, Endeavour. Garry Biles, P. Eng., President and COO, is a professional engineer with 34 years experience, most recently as the General Manager of the Bellavista gold mine for Glencairn Gold. James Moors, B.Sc., P.Geo., VP Exploration is a professional geologist with 20 years experience exploring ore deposits for Homestake and others. Philip Yee, MBA, CMA, VP Finance and CFO, is a professional accountant with over 15 years experience as Controller and Officer of public companies. Len Harris, P.Eng., Director, is a retired metallurgical engineer who was President of Newmont Peru responsible for the development of the huge Yanacocha mine. Derek Bullock, P.Eng., Director, is a retired mining engineer who was President of IAMGOLD responsible for joint venturing with AngloGold the development of the profitable Sadiola mine. Bill 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 32 years experience operating high grade, underground gold-silver mines, including Homestake and Dickenson Mines. CONTACT INFORMATION Head Office: Gregg Wilson, Investor Relations Suite 301-700 West Pender Street, Vancouver, B.C., Canada, V6C 1G8 Tel: (604) 685-9700 Fax: (604) 685-9744 Toll Free (US & Canada): 1-877-684-9700 E-mail: info@canarc.net Website: www.canarc.net     Field Office: Paramaribo, Suriname and Durango, Mexico Legal Counsel: Stewart Lockwood, Vector Corporate Finance Lawyers Auditors: KPMG LLP Bankers: Royal Bank of Canada Transfer Agent: Computershare Investor Services Inc.