2007
Canarc Makes Two New Appointments To Senior Management Team
Vancouver, Canada - January 30, 2007 - Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, DBFrankfurt: CAN) announces two new appointments to its senior management team. With the addition of two seasoned mining professionals, Canarc plans to make the transition this year from its history as a successful gold explorer into a more integrated mining company.
Bruce Bried, P. Eng., will assume the role of President and COO, effective February 15, 2007. Bruce was most recently the Vice President, Mining for both Canarc Resource Corp. and Endeavour Silver Corp., where he oversaw the initial mine engineering of Canarc’s main asset, the New Polaris Gold Project in northwestern B.C., as well as the development and operation of Endeavour’s Guanacevi silver mines project in Durango, Mexico.
Mr. Bried is a professional mining engineer with over 28 years experience in the engineering, development, operation, reclaimation and management of producing mines. He specializes in underground vein gold/silver mines, having worked for many years with Dickinson Mines (now Goldcorp) in Red Lake, ON and New Denver, BC, and then with Homestake Mining, where he was Mine Superintendent at the Hemlo and Eskay Creek gold mines and General Manager of the Snip and Lead gold mines.
Garry Biles, P. Eng., joins Canarc as the new Vice President, Mining and General Manager of the New Polaris Gold Project, effective March 1, 2007. Garry was most recently the General Manager of the Bellavista gold mine in Costa Rica for Glencairn Gold, where he supervised the development of Bellavista from the start-up stage through to commercial production in December 2005. Canarc holds a 5-20% net profit royalty in Bellavista.
Mr. Biles is a professional engineer with more than 34 years experience, including 16 years as General Manager of 4 producing mines, including the development of the rich Eskay Creek mine of Barrick Gold. He has excelled at maximizing gold mining operations, achieving production and cost targets and establishing excellent track records for safety first, environmental leadership and strong relations with employees and First Nations.
Canarc also announces the resignation of Jack McClintock as President and COO, effective February 15, 2007. Jack plans to pursue other opportunities in the exploration sector.
Bradford Cooke, Chairman and CEO, commented, “With these two new appointments to its senior management team, Canarc has taken an important step towards its goal of growth through developing the New Polaris gold project and acquiring other producing or advanced gold mine projects.
On behalf of the Board of Directors, I would like to welcome Bruce and Garry to their new positions and we wish Jack well in his new ventures.”
Canarc Resource Corp. is a growth-oriented, gold exploration company listed on the TSX (symbol CCM) and the OTC-BB (symbol CRCUF). The Company’s New Polaris gold project in north-western British Columbia is one of the largest undeveloped high grade gold deposits in Western Canada. Canarc’s focus is now on advancing New Polaris to the feasibility stage and acquiring attractive near-term gold mining projects. Barrick Gold Corp. is a shareholder.
CANARC RESOURCE CORP.
Per:
/s/ Bradford J. Cooke
Bradford J. Cooke
Chairman and C.E.O.
For more information, please contact Gregg Wilson at Toll Free: 1-877-684-9700, tel: (604) 685-9700, fax: (604) 685-9744, email: [email protected] or visit our website, www.canarc.net. The TSX Exchange has neither approved nor disapproved the contents of this news release.
CAUTIONARY DISCLAIMER – FORWARD LOOKING STATEMENTS
Certain statements contained herein regarding the Company and its operations constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are “forward-looking statements”. We caution you that such “forward looking statements” involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include fluctuations in precious metal prices, unpredictable results of exploration activities, uncertainties inherent in the estimation of mineral reserves and resources, fluctuations in the costs of goods and services, problems associated with exploration and mining operations, changes in legal, social or political conditions in the jurisdictions where the Company operates, lack of appropriate funding and other risk factors, as discussed in the Company’s filings with Canadian and American Securities regulatory agencies. The Company expressly disclaims any obligation to update any forward-looking statements. We seek safe harbour.
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