2002 First Quarter Report
Consolidated Statements of Operations and Deficit of
CANARC RESOURCE CORP.
(express in thousands of United States dollars)
(Unaudited - See Notice to Reader)

March 31, 2002

CONSOLIDATED STATEMENTS OF OPERATIONS AND DEFICIT

	Three months ended March 31,
	2002			2001
REVENUE
Investment and other income	$	10		$	6
COSTS AND EXPENSES
General and administrative		48			48
Property investigation		7			37
Amortization		1			2
Shareholder relations		-			1
Write-down of resource properties		-			52
		56			140
LOSS BEFORE THE UNDERNOTED		46			134
Stock-based compensation		5			-
Non-controlling interest		(1)			(22)
LOSS FOR THE PERIOD		50			112
DEFICIT, BEGINNING OF PERIOD		27,654			23,994
DEFICIT, END OF PERIOD	$	27,704		$	24,106
WEIGHTED AVERAGE NUMBER OF       SHARES OUTSTANDING		43,834,801			40,834,801
LOSS PER SHARE	$	0.001		$	0.003

See accompanying notes to consolidated financial statements.

 

---

• President's Letter to Shareholders
• Notice to Reader
• Consolidated Balance Sheets
• Consolidated Statements of Operations and Deficit
• Consolidated Statements of Changes in Cash Flow
• Notes to Financial Statements
• Management Discussion and Analysis