small NR for CAN.vHeadline: Canarc Resource Corp.: Shareholder Update; Review of Second Quarter and Outlook for Third Quarter of 2010
Symbol: CAN
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 29, 2010) - BradfordCooke, Chairman and CEO of Canarc Resource Corp.(TSX:CCM)(OTCBB:CRCUF)(DBFrankfurt:CAN), is pleased to provide thefollowing review of Canarc's progress in the second quarter, and itsplans for the third quarter of 2010.
Q2 Review
-- Cap-Ex Ventures Ltd., Canarc's joint venture partner on its Tay-LP
property in the Yukon, submitted an NI43-101 technical report in order
to advance the project and meet regulatory requirements
-- Board of Directors were re-elected for the ensuing year at the Annual
General meeting and shareholders approved the amendments to the stock
option plan
-- A number of companies continue to evaluate their interest in the New
Polaris gold mine project and management continues to evaluate
opportunities to acquire new gold properties
Q3 Outlook
Management continues to seek strategic alternatives such as a jointventure or other means to advance the New Polaris high grade gold mineproject to mine development and a full feasibility study. Discussionsare currently underway with a junior mining company and an investorgroup.
We also continue to pursue new opportunities for growth by evaluatingattractive gold projects in the USA and Canada for acquisition wheremanagement's exploration and mining experience can add value.Discussions are currently underway regarding the possible acquisitionof a dormant open pit, heap leach gold mine.
Canarc Resource Corp. is a growth-oriented, gold exploration companylisted on the TSX (CCM) and the OTC-BB (CRCUF). Canarc is currentlyfocused on advancing its New Polaris gold mine project in north-westernBritish Columbia to the feasibility stage, exploring the large Tay LPproperty and acquiring attractive gold exploration and mining projectsin North America. Barrick Gold Corp. is a shareholder.
CANARC RESOURCE CORP.