Exhibit 99.1
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CANARC
RESOURCE CORP.
810-625
Howe Street
Vancouver,
BC V6C 2T6
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T: 604.685.9700
F: 604.6685-9744
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www.canarc.net
CCM:
TSX
CRCUF:
OTCQB
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Canarc Receives Government Land Use Permit for
Multi-Phase
Exploration on the Hard Cash Gold Property in Nunavut,
Canada
Vancouver, Canada – May 21, 2019 – Canarc
Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt:
CAN) announces that it has received the Government Land Use
Permit for multi-phase exploration on the Hard Cash Gold Property
located in southwestern Nunavut, Canada. Nunavut is home to two
multi-million ounce gold deposits owned by Agnico Eagle Mines, the
operating Meadowbank Mine and the Meliadine Mine currently in
construction.
The
permit issued by the Crown-Indigenous Relations Division of
Northern Affairs Canada allows Canarc to conduct exploration at the
Hard Cash property until June 29, 2024. The five-year permit allows
Canarc to conduct exploration programs at the site to determine the
extent of high-grade gold mineralization that has been discovered
in surface sampling.
In
November 2018 Canarc entered into an option agreement with Silver
Range Resources to acquire a 100% interest in Hard Cash (see news
release dated November 29,
2018) and is finalizing details for its initial exploration
program at the property to be conducted in July and August of this
year.
Qualified
Person
Garry
Biles, P.Eng, President & COO for Canarc Resource Corp, is the
Qualified Person who reviewed and approved the technical contents
of this news release.
"Scott Eldridge”
____________________
Scott Eldridge, Chief Executive
Officer
CANARC
RESOURCE CORP.
About Canarc - Canarc Resource Corp. is
a growth-oriented gold exploration company focused on generating
superior shareholder returns by discovering, exploring and
developing strategic gold deposits in North America. The
Company is currently advancing two core assets, each with
substantial gold resources, and has initiated a high impact
exploration strategy to acquire and explore new properties that
have district-scale gold discovery potential. Canarc shares
trade on the TSX: CCM and the OTCQX: CRCUF.
For More Information - Please contact:
Scott
Eldridge, CEO
Toll
Free: 1-877-684-9700
Tel: (604)
685-9700
Cell: (604)
722-5381
Email:
scott@canarc.net
Website:
www.canarc.net
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements”
within the meaning of the United States private securities
litigation reform act of 1995 and “forward-looking
information” within the meaning of applicable Canadian
securities legislation. Statements contained in this news release
that are not historic facts are forward-looking information that
involves known and unknown risks and uncertainties. Forward-looking
statements in this news release include, but are not limited to,
statements with respect to the future performance of Canarc, and
the Company's plans and exploration programs for its mineral
properties, including the timing of such plans and programs. In
certain cases, forward-looking statements can be identified by the
use of words such as "plans", "has proven", "expects" or "does not
expect", "is expected", "potential", "appears", "budget",
"scheduled", "estimates", "forecasts", "at least", "intends",
"anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "should", "might" or
"will be taken", "occur" or "be achieved".
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such risks
and other factors include, among others, the Company’s
ongoing due diligence review in relation to the Acquisition, risks
related to the uncertainties inherent in the estimation of mineral
resources; commodity prices; changes in general economic
conditions; market sentiment; currency exchange rates; the
Company's ability to continue as a going concern; the Company's
ability to raise funds through equity financings; risks inherent in
mineral exploration; risks related to operations in foreign
countries; future prices of metals; failure of equipment or
processes to operate as anticipated; accidents, labor disputes and
other risks of the mining industry; delays in obtaining
governmental approvals; government regulation of mining operations;
environmental risks; title disputes or claims; limitations on
insurance coverage and the timing and possible outcome of
litigation. Although the Company has attempted to identify
important factors that could affect the Company and may cause
actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, do not place undue
reliance on forward-looking statements. All statements are made as
of the date of this news release and the Company is under no
obligation to update or alter any forward-looking statements except
as required under applicable securities laws.