CCM Canagold Resources Ltd

Canarc Resource Corp. ("Canarc" or the "Company")
(TSX:CCM)(OTCBB:CRCUF)(FRANKFURT:CAN) announces that, as a result of its due
diligence, it has terminated its letter of intent (the "Letter of Intent") with
Pan American Goldfields Ltd. (OTCQX:MXOM) ("Pan American") with respect to a
business combination.


Mr. Catalin Chiloflischi, CEO of Canarc, stated: "As a result of our
comprehensive due diligence process completed to date, we have concluded that
pursuing the proposed transaction with Pan American is not in the best interest
of our shareholders. However, the Company remains prepared and committed to
pursue other opportunities that can leverage our team's mine building and
operating expertise with a goal to transition Canarc into a successful producing
gold-silver mining company."


A conference call to discuss Canarc's plans going forward with shareholders and
investors has been scheduled for Wednesday May 7, 2014 at 11.30am PST (2.30pm
EST). Please see dialing instructions below.




Conference Call Numbers                                                     
Canada & USA Toll Free Dial In: 1 877 881 1303                              
Outside of Canada & USA call: +1 604 638 5340                               



Please dial in 5 - 10 min prior to the scheduled start time and simply ask to
join your call. 


Catalin Chiloflischi, CEO 

CANARC RESOURCE CORP.

About Canarc Resource Corp. - Canarc is a growth-oriented, gold exploration and
mining company listed on the TSX (CCM) and the OTC-BB (CRCUF). The Company is
currently seeking a partner to advance its core asset, the 1.1 million oz, high
grade, underground, New Polaris gold mine project in British Columbia, to
feasibility. Canarc is also seeking to acquire an operating or pre-production
gold mine in the Americas. 


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
historical 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 merits of the
mineral properties of Canarc, the future performance of Canarc, mineral resource
estimates 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, 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.


Forward-looking statements are based on assumptions that the Company believes to
be reasonable, including expectations regarding the merits of the mineral
properties of the Company, the accuracy of the mineral resource estimates of the
Company, mineral exploration and development costs; expected trends in mineral
prices and currency exchange rates; that the Company's activities will be in
accordance with the Company's public statements and stated goals; that there
will be no material adverse change affecting the Company or its properties; that
all required approvals will be obtained and that there will be no significant
disruptions affecting the Company or its properties.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canarc Resource Corp.
Catalin Chiloflischi
CEO
Toll Free: 1-877-684-9700 or (604) 685-9700
(604) 685-9744 (FAX)
info@canarc.net
www.canarc.net

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