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CANARC RESOURCE CORP.
NEWS
ANNOUNCEMENT FOR IMMEDIATE
RELEASE
Canarc Closes $500,000 Private
Placement Financing
Vancouver, British Columbia, Canada
September 30,
2002
Canarc Resource
Corp. (CCM:TSX and CRCUF:OTC-BB) has closed its recently
announced $500,000 private placement financing. The net proceeds were added to
working capital, which now stands at approximately CA $1.25 million.
An aggressive machine trenching program is
now set to get underway on the Benzdorp gold project in Suriname.
The Company has expanded the program budget to CA $250,000 in order to more
fully evaluate the size and grade of the JQA, JQW, JQS and other prospect
targets with at least 24 trenches up to 10 metres deep.
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.
ON BEHALF OF THE BOARD OF
DIRECTORS
CANARC
RESOURCE CORP.
Bradford J.
Cooke
President
NOTE: For further
information please contact Bradford Cooke at (604) 685-9700. If you prefer to
receive Canarc's News by E-Mail, please E-Mail us at [email protected].
NOTE: If you have an E-Mail address and would prefer to receive Canarc's
News through this format, please E-Mail us at [email protected].