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Canarc Appoints VP Exploration

23.06.2020  |  Accesswire

VANCOUVER, June 23, 2020 - Canarc Resource Corp. (TSX:CCM)(OTCQB:CRCUF)(Frankfurt:CAN) announces the appointment of Mr. Troy Gill, MAIG., to the position of Vice President, Exploration, effective immediately. Mr. Gill is a geologist with extensive exploration experience and a successful track record of discoveries, including 15 years with Rio Tinto where he twice received the Rio Tinto Discovery Award.

Scott Eldridge, Canarc's CEO stated: "It is a pleasure to welcome Mr. Gill to our Canarc management team. We look forward to working with Troy to create value for shareholders through both our exploration and acquisition strategies. Canarc plans to carry out two drill programs on our projects in Nunavut and British Columbia over the next three months. We thank outgoing VP Exploration Dr. Jacob Margolis for his contributions and wish him all the best."

Mr. Gill graduated with a B.Sc. degree in Geology from the University of Wollongong, NSW, Australia in 1993. He has 27 years of mining and mineral exploration experience, more than half with Rio Tinto, searching for a wide range of commodities in a variety of geological settings, including gold, copper, nickel, diamonds, coal and iron ore.

His greatest exploration success came with the grassroots discovery of the Caliwingina Channel Iron Deposit in the Pilbara region of Western Australia, that grew to become a resource of nearly one billion tonnes of iron ore. After leaving Rio Tinto, Troy has enjoyed success as Exploration Manager with Sanatana Resources Inc. discovering the diamondiferous Dharma kimberlite in the Sahtu region, NWT, Canada.

As a Member of the Australian Institute of Geoscientists, Troy meets the requirements of and will act as Canarc's Qualified Person as defined by National Instrument 43-101.

"Scott Eldridge"

Scott Eldridge, Chief Executive Officer
Canarc Resource Corp.

About Canarc - Canarc Resource Corp. is a growth-oriented gold exploration company focused on generating superior shareholder returns by discovering, exploring and developing strategic gold deposits in North America. The Company is currently advancing two core assets, each with substantial gold resources, and has initiated a high impact exploration strategy to acquire and explore new properties that have district-scale gold discovery potential. Canarc shares trade on the TSX: CCM and the OTCQB: CRCUF.

For More Information - Please contact:

Scott Eldridge, CEO
Toll Free: 1-877-684-9700 Tel: (604) 685-9700 Cell: (604) 722-5381
Email: scott@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 Resource Corp.



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