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Canarc Resource closed down at $ 0.325 on Wednesday on higher than average volume.

On Wednesday, January 23rd, 2008, Bradford Cooke, Chairman and CEO of Canarc Resource Corp., provided the following review of Canarc's accomplishments in 2007 and its plans for 2008.

- Appointed new senior management, including Bruce Bried, P.Eng., as President and COO and Garry Biles, P.Eng., as Vice President, Mining

- Announced new NI 43-101 resource estimate for New Polaris gold mine project, including 519,000 oz gold in measured and indicated resources and 636,000 oz gold in inferred resources at a 6 gpt gold cutoff grade or 342,096 oz measured and indicated and 361,209 oz inferred at a 9 gpt gold cutoff (see Feb 1, 2007 and Aug 20, 2007 news releases)

- Released positive results of preliminary economic assessment for New Polaris at US$650 per oz gold, including after-tax undiscounted NPV of CA$40.9 million and IRR of 11.1% (see Aug 20, 2007 news release)

- Received outstanding reclamation award for New Polaris from Mining Association of BC and BC Ministry of Energy, Mines and Resources.

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International Stock Targets is a world renowned research firm, specializing in identifying undervalued growth companies and walking members through the life-cycle of an equity's most aggressive growth periods. IST has been honoured the "Best International Research Team Award" three years in a row, and has been praised in many of the top publications globally and is recognized for their research, accuracy and professionalism.

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