Canarc Resource Corp. (CCM: TSX and CRCUF: OTC-BB) is pleased to announce the appointment of Mr. Jack McClintock, B.Sc., MBA, as its new President and Chief Operating Officer. Bradford Cooke, the previous President and Company founder, will now assume the role of Chairman and continue as the Chief Executive Officer.
Mr. McClintock most recently held the position of global Exploration Manager for BHP Billiton, the world’s largest mining company, based in Melbourne, Australia. He brings to Canarc a wealth of experience in the exploration and mining business, both hands-on and in senior management.
Jack started his career in the mining industry as a Project Geologist with Rio Algom Explorations from 1973 to 1983, where he was involved in the discovery of the MAC molybdenum and Wolf gold deposits. From 1983 to 1987, he was Senior Geologist with Welcome North Mines where he focused on the exploration of a number of advanced gold projects in British Columbia. After consulting for two years and earning his MBA degree, Jack rejoined Rio Algom in 1989 where he quickly rose through the ranks to become their Exploration Manager in South America and then North America. After Rio Algom was taken over by BHP Billiton in 2001, Mr. McClintock was appointed global Search Leader for porphyry copper deposits, then for all base metals, and finally as global Exploration Manager.
Mr. McClintock has a successful track record of leading and/or participating in a number of mineral discoveries and acquisitions, including but not limited to Rio Algom’s acquisition of the Antamina deposit in Peru and the discovery of the Spence porphyry copper deposit in Chile, for which he was awarded the “Prospector of the Year” award by the Prospectors and Developers Association of Canada in 1998.
Mr. Bradford Cooke, Chairman and C.E.O., stated “On behalf of all the Directors, I can say we are thrilled to have someone of Jack’s calibre leading the Canarc team. Strengthening our senior management team at this time is a very important step towards achieving our goals of acquiring major new gold projects, developing the New Polaris gold mine property and achieving producer status. I look forward to working closely with Jack in creating value for all our shareholders.”
Mr. McClintock has agreed to an initial one-year contract, renewable by mutual agreement. In keeping with the Company’s stock option policies, Mr. McClintock has been granted an incentive stock option for 250,000 shares exercisable at CA$0.40 for a 5-year term.
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
CANARC RESOURCE CORP.
/s/ Bradford J. Cooke
Bradford J. Cooke
President and C.E.O.
WARNING: The TSX has neither approved nor disapproved the contents of this news release. For more information, please contact Gregg Wilson at tel: Toll Free: (877)-684-9700, Phone: (604) 685-9700, fax:(604)685-9744, email [email protected] or visit our website, www.canarc.net.