Day: March 3, 2016

“Strong operating results translated into substantial increases in our operating margins and operating cash flow for 2015, despite continued declines in silver and gold prices”, stated Robert Archer, President & CEO. “Production increased 30% as a result of the ramp-up of San Ignacio and improvements in grade control and operating efficiencies. These factors, combined with favourable foreign exchange rates, also resulted in significantly reduced cash cost and all-in sustaining cost. In addition, our strong operating cash flow enabled us to invest in strategic initiatives and fund advanced exploration projects while maintaining our strong cash and working capital balances.”

“We are proud to have a close and positive working relationship with the concession vendors and are pleased to welcome them as shareholders of the Company,” stated Stephan Jedynak, President and CEO. “The modified purchase agreement terms will allow us to put the majority of the proceeds from our ongoing financing into the project and the planned 3,000 metre maiden drill program at Pino de Plata.”

Canarc Resource Corp. is pleased to announce that it has closed the first tranche of its previously announced private placement equity financing. The first tranche of the private placement consisted of 17,705,152 units priced at CAD$0.09 each for total proceeds of CAD$1,593,464.