2009

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Canarc Arranges CA$40,000 in Private Placement Financing

Vancouver, Canada � November 2, 2009 - Canarc Resource Corp. (CCM: TSX, CRCUF: OTC-BB, CAN: DB-F) announces that it has arranged a non-brokered private placement equity financing totaling approximately CA$40,000.

The private placement consists of up to 326,000 units priced at CA$0.1225 per unit for gross proceeds of up to approximately CA$40,000.� Each unit consists of one common share and one-half share purchase warrant.� Each full warrant can be exercised to purchase one common share at CA$0.165 within an 18 month period.

A 7% finder�s fee is payable in cash on a portion of this placement.� The private placement is subject to exchange and regulatory approvals, and the shares will be subject to the standard four month hold period (and a US legend for American subscribers only).

The recently completed $0.10 unit private placement was oversubscribed by a small amount but the TSX did not approve the over-subscription so all the participants in that financing were cut back on a pro rata basis.� The current $0.1225 unit offering is being taken up by some of the participants in the $0.10 offering in order to accommodate their previously over-subscribed amounts.

The net proceeds of the unit private placement will be added to working capital.

Canarc Resource Corp. is a growth-oriented, gold exploration company listed on the TSX (CCM) and the OTC-BB (CRCUF).� Canarc is currently focused on exploring its recently acquired Tay LP gold property in south-central Yukon and seeking a partner to advance its New Polaris gold mine project in north-western British Columbia to the feasibility stage.� 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: info@canarc.net or visit our website, www.canarc.net.
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CAUTIONARY DISCLAIMER � FORWARD LOOKING STATEMENTS
Certain statements contained herein 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, as discussed in the Company's filings with Canadian and United States securities�agencies.� The Company expressly disclaims any obligation to update any forward-looking statements other than as required by applicable law. We seek safe harbour.