A Cessna 208B Grand Caravan sustained damage in an accident near Fort McMurray Airport, Alberta, Canada. The aircraft was on a VFR flight from Camrose to Fort McMurray, Canada . During the descent through 3 000 feet ASL, approximately 6 nautical miles South of Fort McMurray, the RESERVOIR FUEL LOW warning light illuminated. The pilot completed the checklist for this emergency and informed ATC that the aircraft had an engine issue, however without declaring an emergency. The pilot continued to join the base leg for runway 25 at Fort McMurray Airport. During the turn from base leg to final approach, the engine lost power approximately 1 nautical mile from the runway. The pilot determined that the aircraft would not make the runway and elected to land on a service road east of the airport. The aircraft landed in a field off airport property, approximately 1400 feet South West of the threshold of runway 25. The pilot and the three passengers exited the aircraft with no injuries. The aircraft sustained substantial damage, however there was no post-crash fire.