Canarc Resource Corp. (the “Company”) (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) is pleased to announce that it has applied to the Toronto Stock Exchange (the “Exchange”) and has received conditional approval to extend the term of an aggregate of 8,450,000 common share purchase warrants (the “Warrants”) by one year, which were issued pursuant to a private placement (the “Private Placement”) that closed on January 31, 2014. Each Warrant entitles the holder to acquire one common share in the capital of the Company at an exercise price of $0.10 per common share until July 31, 2017. No Warrants issued under the Private Placement have been exercised to date, and none of the Warrants are held, directly or indirectly, by any insiders of the Company. The Company has received conditional approval from the Exchange to extend the term of the Warrants for an additional year to July 31, 2018.

“Catalin Chiloflischi”