Canarc Resource Corp. (TSX: CCM, OTCQX: CRCUF, Frankfurt: CAN) (“Canarc” or the “Company”) announces, effective today, the appointment of Director Scott Eldridge as the new Chief Executive Officer. Bradford Cooke who has held the position as Interim CEO will continue as Chairman of the Company.

Scott Eldridge has over 10 years of experience in the mining sector, spanning various executive roles with both private and public companies. He has a proven track record of raising capital for mining projects from exploration stage to construction financing.

Bradford Cooke, Canarc Chairman and Interim CEO, commented “I am pleased to welcome Scott Eldridge to the Canarc Management team. His leadership, capital markets experience and investor network should help unfold the full potential of our current gold projects and corporate strategy.”

Over the span of his career, Scott has worked with different commodities including gold, silver, diamonds, copper, iron ore, vanadium, zinc and potash, in a variety of locations including the United States, Canada, Brazil, Argentina, Mexico, Finland, Sweden, Spain, Romania and Ghana. He has worked mostly with junior companies guiding them through the advancement process of exploration, resource estimation and economic valuation leading to an M&A event or construction.

Most recently he was President and CEO of Arctic Star Exploration (TSX-V: ADD), a diamond exploration company.  Prior he held the position of CFO and VP Finance with Amarillo Gold (TSX-V: AGC) a gold developer in Brazil. Additionally, he co-founded Euroscandic International Group Inc., a private company that offered investment banking services to natural resource companies. During his time in the industry Scott has been responsible for raising in excess of $500 million in combined equity and debt financing for mining projects varying from exploration to construction financing around the globe. Mr. Eldridge has a B.B.A. from Capilano University in Vancouver Canada, and an M.B.A. from Central European University in Budapest Hungary.

Bradford Cooke, Chairman