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Canarc Announces Appointments of New President and
COO, and New Director to the Board
Vancouver, Canada � June 10, 2008 - Canarc Resource Corp. (TSX: CCM,
OTC-BB: CRCUF, DBFrankfurt: CAN) is pleased to announce the appointment of
Mr. Garry Biles, P.Eng., as the new President and Chief Operating Officer
of the Company, effective June 1, 2008.
Mr. Biles, previously Canarc�s Vice
President, Mining, replaces Mr. Bruce Bried, who has retired after serving
Canarc as President, Vice President and consultant over the past four
years. Garry Biles is a professional engineer with more than 35 years
experience in the mining industry, including 16 years as General Manager of
operating gold-silver mines.
Garry spent 7 years in charge of
operations at the rich Eskay Creek mine of Homestake Mining (now Barrick
Gold) in northern B.C. 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.
His near-term focus will be to 1)
optimize the preliminary economics of Canarc�s principal gold asset, the
million oz, high grade New Polaris gold mine project in northwestern
British Columbia, 2) seek a partner to develop the New Polaris gold mine,
and 3) evaluate gold exploration and mining projects for acquisition in the
western USA.
Bruce Bried, P.Eng., has been
appointed to the Board of Directors. Mr. Bried is a professional
mining engineer with over 28 years experience in the engineering,
development, operation, reclamation and management of producing
mines. He specializes in underground vein gold/silver mines, having
worked for many years with Dickenson Mines (now Goldcorp) in Red Lake, ON,
and 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.
Bradford Cooke, Chairman and CEO of
Canarc commented, �I would like to welcome Garry and Bruce to their new
positions. These new management and Board appointments not only
provide Canarc with a smooth transition in management and continuity for
the New Polaris gold mine project, they also assure that the Company has
the depth to tackle new gold projects, which is one of our main goals for
2008.�
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 advancing its New Polaris gold mine project
in British Columbia and acquiring attractive gold exploration and mining
projects in the western USA. 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 .. The TSX 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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