Canarc Resources Corp. TSX-V:CCM - OTC-BB:CRCUF


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Board Resignation and Appointment

Canarc Resource Corp. (CCM:TSX and CRCUF:OTC-BB) announces the resignation of Stephen Macklem from the Board of Directors, due to the demands on his time from other business activities.  The Board and Management would like to thank Stephen for his service to the Company over the past eight months.

Canarc is pleased to announce that William Price has agreed to stand for nomination as a Director at the Company’s upcoming Annual General Meeting on May 31, 2005.  Mr. Price brings to Canarc a wealth of experience and expertise in the financial world, having recently retired as the Chairman, CEO and CIO of RCM Capital Management LLC (formerly Dresdner RCM Global Investors LLC) and Global Chief Investment Officer of Allianz Global Investors AG.

Mr. Price enjoyed early success as a research analyst in the 1960’s for well recognized firms in the US equity markets, taking on the additional responsibility of portfolio manager with Donaldson, Lufkin, Jenrette in 1970.  Starting in 1977, William  became an early partner in RCM Capital Management and ultimately led the Company as CEO to a stellar track record for growth.  RCM had more than US$ 30 billion under management upon his retirement in 2003. 

As Global Equity Chief Investment Officer for Allianz Global Investors, one of the largest fund management companies in the world, Mr. Price was responsible for over US$ 500 billion under management.  William continues to be a Guest Lecturer at the Stanford Graduate School of Business and is Chairman of the William L. Price Charitable Foundation.

Canarc Resource Corp. is a growth-oriented, gold exploration and mining company listed on the TSX (symbol CCM) and the OTC-BB (symbol CRCUF).  The Company’s principal assets are its 100% interest in the New Polaris gold deposit, British Columbia, and its 80% option on the Benzdorp gold property in Suriname.  Major shareholders include Barrick Gold Corp. and Kinross Gold Corp.

On Behalf of the Board of Directors

/s/ Bradford J. Cooke

Bradford J. Cooke
President and C.E.O.

For more information, please contact Gregg Wilson at Toll Free: 1-877-684-9700,  tel: (604) 685-9700, fax: (604) 685-9744, email: [email protected] or visit our website,  The TSX Exchange has neither approved nor disapproved the contents of this news release.