Canagold Resources Ltd. (CRCUF)

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Canarc Signs Agreement with Barrick Gold and Skeena Resources on its 33.33% Carried Interest in Claims at the Eskay Creek Gold Mine



Vancouver, Canada – December 20, 2017 – Canarc Resource Corp. (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) has entered into an agreement with Barrick Gold Inc (“Barrick”) and Skeena Resources Ltd. (“Skeena”) involving its 33.3% carried interest in certain mining claims adjacent to the past-producing Eskay Creek Gold mine located in northwest British Columbia.



Canarc and Barrick own respectively 33.33% and 66.67% interests in 6 claims and mining leases totaling 2323 hectares at Eskay Creek. The past producing Eskay Creek Gold mine was the richest gold-silver mine in the world in the 1990’s and produced 3.3 million ounces of gold and 160 million ounces of silver from 2.2 million tonnes of ore during a 14 year mining operation.



Through the recently signed agreement, Canarc will retain its 33.33% carried interest while Barrick’s 66.67% interest will pass to Skeena Resources Ltd when Skeena has met its obligations per the Option Agreement it recently signed with Barrick and announced in its news release of December 18, 2017.



Canarc is pleased to see the renewed interest in this property and will benefit from any future exploration success and development that may occur on these claims.