Canarc Resource Corp.
OTC Bulletin Board : CRCUF

Canarc Resource Corp.

November 21, 2006 15:22 ET

Canarc Drilling Intersects Additional High Grade Visible Gold Mineralization at New Polaris Property, BC

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 21, 2006) - Canarc Resource Corp. (TSX:CCM)(OTCBB:CRCUF) announces that recent drilling on the New Polaris property in northwestern B.C. has intersected additional high grade, visible gold mineralization.

Drill holes 1615E-7.5 and 1615E-9 both intersected visible gold mineralization, respectively about 20 m above and 100 m below the previously reported visible gold intercept in drill hole 1615E-8, which assayed 44.7 gpt gold over a 6.2 m length (1.3 oz per ton over 20.3 ft) including 108.0 gpt over 1.0 m (3.15 oz per ton over 3.3 ft).

Hole 1615E-7.5 returned 22.5 gpt over 3.05 m (0.66 oz per ton over 10.0 ft), including 48.9 gpt over 0.6 m (1.43 oz per ton over 2.0 ft), and hole 1615E-9 intersected 16.1 gpt over 12.4 m (0.47 oz per ton over 40.7 ft) including 118.5 gpt over 0.9 m (3.45 oz per ton over 3.0 ft). The latest significant drill intercepts are summarized in the attached table.

For drill hole locations, refer to the C Veins Longitudinal Section on the New Polaris Project page on Canarc's website. All previous drill holes are shown as solid circles, proposed 2006 hole locations are shown as open circles and the holes reported in this news release are shown as stars. Note that this year's drill hole numbers refer to location along the section lines, not chronological sequence. Therefore, previous drill holes located along the section lines will cause some gaps to appear in this year's drill hole number sequence.

Holes 1615E-7.5 and 1615E-9 exhibit the same native gold-stibnite (quartz-carbonate) mineralization as hole 1615E-8 whereas the other holes reported herein display the more common arsenopyrite-pyrite (quartz-carbonate) veining normally found at New Polaris. The visible gold-stibnite mineralization appears to be spatially related to a late-stage aplite dike and also appears to thicken and remain open at depth.

James Moors, B.Sc., P.Geo, Vice President, Exploration, is the Qualified Person supervising the 2006 drill program on the New Polaris property. He has instituted a Quality Control sampling program of blanks, duplicates and standards to ensure the integrity of all assay results. All drill cores are split by Canarc personnel at the New Polaris camp, and then flown to Vancouver for assay by ALS Chemex. The core samples are dried, crushed, split and a 30-gram sub-sample is taken for analysis. Gold content is determined by fire assay with a gravimetric finish on samples containing greater than 1 gpt Au, and other trace elements are analyzed by atomic absorption. ALS Chemex also uses its own standards for quality control checks.

Drill cores that contain visible gold were prepared differently for assay than the normal cores in order to minimize the nugget effect. Core samples were dried, crushed, split and a 1000-gram sub-sample taken for analysis. Each sample pulp was passed through a 100mm (Tyler 150 mesh) stainless steel screen. Any material remaining on the screen (+100mm fraction) was retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction. The material passing through the screen (-100mm fraction) was homogenized and two sub-samples were analyzed by fire assay with an AAS finish. The average of the two AAS results is taken and reported as the Au (-100) fraction result. All three values are used in calculating the combined gold content of the plus and minus fractions. In the assayers report, the gold values for both the +100 and -100 micron fractions are reported together with the weight of each fraction as well as the calculated total gold content of the sample.

Canarc Resource Corp. is a growth-oriented, gold exploration company listed on the TSX (symbol CCM) and the OTC-BB (symbol CRCUF). The Company's principal asset is its 100% interest in the New Polaris gold deposit, British Columbia. Barrick Gold Corp. is a shareholder.


Bradford J. Cooke, Chairman and C.E.O.


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.

New Polaris Drill Results

Hole From Length Gold Length Gold
(No.) (m) (m) (gpt) (ft) (opt)
1585E-8 391.2 0.85 7.7 2.8 0.22

1615E-2 142.1 5.2 25.0 17.1 0.73
incl. 142.1 2.6 36.0 8.5 1.05

1615E-7.5 351.15 3.05 22.5 10.0 0.66
incl. 353.6 0.6 48.9 2.0 1.43

1615E-9 439.5 12.4 16.1 40.7 0.47
incl. 451.0 0.9 118.5 3.0 3.45

1813E-1 300.1 3.0 16.7 9.8 0.49
incl. 302.0 1.1 32.6 3.6 0.95

1813E-2 313.3 1.6 12.7 5.2 0.37
and 331.5 1.5 6.4 4.9 0.19
and 336.3 7.2 18.2 23.6 0.53
and 338.2 0.9 38.4 3.0 1.12

1813E-3 332.6 1.0 6.3 3.3 0.18
and 392.5 1.85 6.0 6.1 0.17
and 405.7 1.55 7.3 5.1 0.21
True widths are approximately 70% to 90% of core lengths.

To view the map accompanying this press release please click on the following link:

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