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CANARC RESOURCE CORP.
NEWS
ANNOUNCEMENT������������������������� FOR IMMEDIATE
RELEASE
Canarc Closes $500,000 Private
Placement Financing
�
Vancouver, British Columbia, Canada�������������������������������������������������������������������������������������������������������������������
� September 30,
2002
�
�
Canarc Resource
Corp. (CCM:TSX and CRCUF:OTC-BB) has closed its recently
announced $500,000 private placement financing.� The net proceeds were added to
working capital, which now stands at approximately CA $1.25 million.
�
An aggressive machine trenching program is
now set to get underway on the Benzdorp gold project in Suriname.�
The Company has expanded the program budget to CA $250,000 in order to more
fully evaluate the size and grade of the JQA, JQW, JQS and other prospect
targets with at least 24 trenches up to 10 metres deep.
�
Canarc Resource
Corp. is a growth-oriented, international gold exploration and
mining company.� Our property portfolio includes projects in Canada, Mexico,
Costa Rica and Suriname.� Major shareholders include Barrick Gold and Echo Bay
Mines.� The Company's common shares trade under the symbol "CCM" on the Toronto
Stock Exchange and "CRCUF" on the OTC Bulletin Board.
�
ON BEHALF OF THE BOARD OF
DIRECTORS
CANARC
RESOURCE CORP.
�
Bradford J.
Cooke
President
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�
NOTE:� For further
information please contact Bradford Cooke at (604) 685-9700.� If you prefer to
receive Canarc's News by E-Mail, please E-Mail us at [email protected].
NOTE: If you have an E-Mail address and would prefer to receive Canarc's
News through this format, please E-Mail us at [email protected].