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Trading Symbol  TSE:CCM

New Board of Directors Elected at Canarc AGM

Vancouver, British Columbia, Canada
June 7, 2001

Bradford J. Cooke, President and C.E.O of Canarc Resource Corp. (CCM-TSE) is pleased to announce the election of a new Board of Directors at the Annual General Meeting of Shareholders held June 5, 2001 in Vancouver, B.C.

Two new Directors were appointed, Mr. Leonard Harris and Mr. Stephen Peck, joining three incumbent Directors, Derek Bullock, Chris Theodoropoulos and Bradford Cooke. Mr. Peck and Mr. Harris bring a wealth of experience to the Canarc Board in the financial and mining sectors, respectively.

Leonard Harris is a metallurgical engineer by training who rose through the ranks in the mining industry to ultimately hold senior management positions with Newmont Mining and Newmont Gold prior to leaving in 1995. He worked as a metallurgist with Mount Morgan, Mount Isa, Texada Mines and Radium Hill mining companies in Australia, Taquah and Aboso Mines in Ghana, Cerro de Pasco Corporation in Peru, and Cerro Corporation in New York until 1974. Leonard then moved to the Newmont group of companies, holding senior management positions including President of Newmont Peru, Vice President and General Manager for Newmont Latin America and General Manager of Minera Yanacocha.

Mr. Harris was Minera Yanacocha’s first General Manager and directed Newmont’s development of this gold mine in Peru, the largest and one of the lowest cost gold mines in South America. He remains very active in the mining industry as a Director of several companies, including Glamis Gold, Corriente Resources, Solitario Resources, Alamos Minerals, Cardero Resource, Resource Development and Minera Berenguela. Leonard has many professional affiliations including SME, AIME, IMM, AIMM, CIMM and he is currently Chairman of the Mining Group for the Chamber of the Americas.

Stephen Peck is an economist who has been active in the financial and investment sectors for many years. He co-founded the investment firm of Weiss, Peck and Greer, was a Governor of the New York Stock Exchange for several years and acted as its Vice-Chairman from 1971 to 1972. He has served on the Audit Committee of the City of New York, and as a Director of several large corporations, including Tiger International, Greyhound Lines, Grand Union, and Reliance Insurance.

Mr. Peck is currently a member of the Boards of Directors of Harnischfeger, Fresenius Medical Care, OFFIT Investment Funds and Banyan Strategic Realty Trust, as well as an Advisory Board Member to Brown Simpson Asset Management and the Torrey Funds. Mr. Peck also acts as Chairman of the Board of Trustees for Mount Sinai/NYU Health, the Mount Sinai Hospital and School of Medicine and is a Director of the Jewish Theological Seminary. Stephen is a General Partner of Wilderness Partners, L.P. and maintains an office with Gilder, Gagnon, Howe & Co. LLC.

Stated Mr. Cooke, “I would like to welcome Stephen Peck and Leonard Harris to our Canarc team. They have much to offer a small, growth oriented company like Canarc. With the closing of our recent CA$450,000 private placement financing, and the new additions to our Board, the Company is well positioned to maximize the value of its current gold projects once the price of gold shows more strength. I would also like to thank our two retiring Directors, Mr. Don Worth and Mr. Walter Riva, for their valuable advice and years of service on the Board of Directors. We wish them both well.”

Canarc Resource Corp. is a growth-oriented, international gold exploration and mining company. Our property portfolio includes projects in Canada, Mexico, Costa Rica and Suriname. Major shareholders include Barrick Gold and Echo Bay Mines. The Company’s common shares trade under the symbol “CCM” on the Toronto Stock Exchange and “CRCUF” on the OTC Bulletin Board.


“Bradford Cooke”

Bradford J. Cooke

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