Although both camps had agreed that the fighters would weigh in at 11 stone six pounds, Clark tipped the scales at 11st9 before the contest in Sunderland.
Despite conceding a significant weight and height advantage, Smith had the better of the early stages and troubled Clark with his jabs.
Smith, who only turned 19 last Saturday, had taken the fight at short notice against a man who was competing in his 27th pro contest but although the Dewsbury fighter was the busier of the two, he tired towards the end of rounds.
Many at ringside thought Smith had done enough to win but the referee judged it 58-58 after six two minute rounds.
Smith’s trainer Julian McGowan said: “Michael produced a disciplined performance and he is improving with every fight and although we thought he had done enough to win, at least he still has his unbeaten record in tact.
“When Michael used his jab, he had the better of the fight but Clark is a seasoned pro and drew Michael into a brawl, which we didn’t want.”
Smith and Dewsbury solicitor Zahid Kahut are hoping to fight on a show at Huddersfield Sports Centre on March 5 — a year to the day since local star Gary Sykes won his British super featherweight title by beating Manchester’s Andy Morris at the same venue.