Vancouver, British Columbia (FSCwire) - Canarc Resource Corp. (TSX: CCM, OTC-BB:
CRCUF, Frankfurt: CAN) announces that it has received approval from the U.S. Bureau of Land Management for a drilling
campaign at its Fondaway Canyon property in Nevada. The program consists of 7 core holes totaling 2,700 meters in 5 target areas
at depths of up to 400 meters; drilling is expected to start on or about September 15th, 2017. The program will cost
approximately $850,000 CDN and will be funded from existing cash.
The principal objectives of the drilling program are to test for extensions of mineralization to depth below shallowly-drilled
mineralized zones at the South Mouth, Pack Rat, South Pit and Colorado zones, and for the down-dip continuation of mineralization
in the Half Moon - Stibnite area. Drilling will also focus on the corners of the structural dilation zone (see July 5, 2017
news release) where gold mineralization is particularly enhanced.
South Mouth
South Mouth is a broad area of mineralization up to 300 m wide by at least 700 m long. Historic drilling tested to only
about 125 m deep, with most holes shorter than 100 m. Canarc will complete 2 holes across the mineralized area in an effort
to extend mineralization 100 to 200 m below previously-tested levels. South Mouth mineralization was not included in the
recent Fondaway resource calculations (43-101 Technical Report available on SEDAR).
Pack Rat
Like South Mouth, Pack Rat is a broad area of mineralization tested by shallow historic drilling; only 2 of the 39 holes
drilled exceed 80 m. The gold mineralization occurs in steeply-dipping shear zones and vein stockworks in the southwest
corner of the district-scale, structural dilation zone. Mineralization is known over a 180 m vertical range and remains
open at depth and along strike. Canarc will complete 1 angle hole across the mineralized area in an effort to extend
mineralization 100 to 200 m below previously-tested levels. Pack Rat mineralization was not included in the recent
Fondaway resource calculations (43-101 Technical Report available on SEDAR).
South Pit
The South Pit target lies in the southeast corner of the district-scale structural dilation zone at the intersection of
northeast-striking and east-striking mineralized structures. The intersection is marked by high-grade gold (e.g., 15.75 g/t
Au over 0.5 m, Canarc sample). The northeast structure is at least 25 m wide and at least 200 m long, with samples
exceeding 3 g/t away from the intersection. Canarc will complete 1 drill hole to test the intersection area.
Half Moon - Stibnite
The Half Moon - Stibnite target lies at the northeast corner of the dilation zone at the intersection of northeast-striking
and east-striking mineralized shear zones and veins. Gold mineralization occurs within a broad envelope of stockwork
veining which is about 175 m thick and has been tested down dip for about 350 m. The deepest historic drill intersection in
the area is 4.2 g/t Au over 16.8 m including 7.8 g/t over 3 m and 6.7 g/t over 5.8 m (hole 02FC-4). The Company will
complete one hole to test about 100 m below the historic holes.
Colorado
Colorado is a broad mineralized area (about 200 m by 300 m) marking the northwest corner of the dilation zone that contains
strongly-altered and mineralized dikes, high-grade veins and shear zones, and broad lower-grade mineralization hosted in altered
shale. Canarc's rock-chip samples returned 5.0 g/t Au over 2 m, 10.7 g/t Au over 4 m and 24.0 g/t Au over 2 m in steep and
low-angle shear/vein zones. The Company will complete 2 deep holes across the area to test below previous drilling and
confirm the high-grade mineralization in the area of hole TF-114.
* Drill hole gold composites do not necessarily equate to true widths.
Qualified Person:
Dr. Jacob Margolis is a qualified person, as defined by National Instrument 43-101, and has approved the technical information
in this news release. Dr. Margolis is engaged as a consultant to Canarc Resource Corp.
"Catalin Kilofliski”
____________________
Catalin Kilofliski, CEO
CANARC RESOURCE CORP.
About Canarc Resource Corp. - Canarc is a growth-oriented, gold exploration and mining Company listed on the
TSX (CCM) and the OTC-BB (CRCUF). The Company creates shareholder value by acquiring, exploring and developing
pre-production stage gold mines or properties in the Americas.
For More Information - Please contact:
Catalin Kilofliski, CEO
Toll Free: 1-877-684-9700
Tel: (604) 685-9700
Fax: (604) 685-9744
Email: catalin@canarc.net
Website: www.canarc.net
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States private securities
litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation.
Statements contained in this news release that are not historic facts are forward-looking information that involves known and
unknown risks and uncertainties. Forward-looking statements in this news release include, but are not limited to, statements with
respect to the future performance of Canarc, and the Company's plans and exploration programs for its mineral properties,
including the timing of such plans and programs. In certain cases, forward-looking statements can be identified by the use of
words such as "plans", "has proven", "expects" or "does not expect", "is expected", "potential", "appears", "budget",
"scheduled", "estimates", "forecasts", "at least", "intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might"
or "will be taken", "occur" or "be achieved".
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, the
Company’s ongoing due diligence review in relation to the Acquisition, risks related to the uncertainties inherent in the
estimation of mineral resources; commodity prices; changes in general economic conditions; market sentiment; currency exchange
rates; the Company's ability to continue as a going concern; the Company's ability to raise funds through equity financings;
risks inherent in mineral exploration; risks related to operations in foreign countries; future prices of metals; failure of
equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the mining industry; delays in
obtaining governmental approvals; government regulation of mining operations; environmental risks; title disputes or claims;
limitations on insurance coverage and the timing and possible outcome of litigation. Although the Company has attempted to
identify important factors that could affect the Company and may cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements. Accordingly, do not place
undue reliance on forward-looking statements. All statements are made as of the date of this news release and the Company is
under no obligation to update or alter any forward-looking statements except as required under applicable securities
laws.
Source: Canarc Resources Corp. (TSX:CCM, OTCQB:CRCUF)
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