Canada � August 24, 2010 - Canarc Resource Corp. (CCM:
TSX, CRCUF: OTC-BB, CAN: DB-F) announces that Cap-Ex Ventures Ltd. has
received TSX Venture Exchange approval of the option agreement dated March
22, 2010, between Cap-Ex Ventures Ltd. and Canarc Resource Corp. regarding
the Tay-LP property.
the option agreement, Cap-Ex can acquire up to a 50-per-cent interest in
Canarc�s option to acquire the Tay-LP property located in south-central
Yukon from Ross River Minerals Inc. Cap-Ex may exercise the option by
paying $230,000, issuing 200,000 shares, spending $675,000 on exploration
and making $50,000 in royalty payments.
is currently considering an airborne geophysical survey over select areas
of the property in order to help define target areas for drilling.
Resource Corp. is a growth-oriented, gold exploration company listed on the
TSX (CCM) and the OTC-BB (CRCUF). Canarc is focused on advancing 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
Bradford J. Cooke
Chairman and C.E.O.
information, please contact Gregg Wilson at Toll Free: 1-877-684-9700, tel:
(604) 685-9700, fax: (604) 685-9744, email: firstname.lastname@example.org
or visit our website, www.canarc.net.
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.