First Quarter Financial Statements
Consolidated Financial Statements of
CANARC RESOURCE CORP.
(expressed in United States dollars)
(Unaudited-See Notice to Reader)
NOTICE TO READER
I have compiled the consolidated balance sheet of Canarc
Resources Corp. as at March 31, 2002 and consolidated statements of operations
and deficit and cash flows for the period then ended from information
provided by the Company. I have not audited, reviewed or otherwise attempted
to verify the accuracy or completeness of such information. Readers are
cautioned that these statements may not be appropriate for their purposes.
“G. Ross McDonald” (signed)
G. Ross McDonald
Vancouver, British Columbia
May 27, 2002