Day: June 11, 2012

Cangold Advances Metallurgical Program to Pre-Feasibility Level for Ixhuatan Gold-Silver Project

Cangold Limited is pleased to announce that metallurgical testing for the Ixhuatan Gold-Silver Project in Chiapas, Mexico has been advanced to a pre-feasibility level. Phase 1 metallurgical testing at SGS Lakefield, Canada consisted of a scoping level gold recovery test program to define the plant process flowsheet. Testwork results indicated recoveries averaging 87% (range of 82-93%). The average grade obtained by SGS Lakefield for the four drill core samples tested (see news release May 1, 2012) was 2.77g/t gold.

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