CANGOLD LIMITED reports that continued geological mapping and rock sampling along several structures on the Guadalupe de los Reyes Gold-Silver Project in Sinaloa State, Mexico has again returned high grade gold and silver assays. Highlights of this final portion of the Phase 1 field work included 6.32g/t gold and 106g/t silver over 3.0m, 21.95g/t gold and 777g/t silver over 0.5m, 4.01g/t gold and 46g/t silver over 4.5m, 23.0g/t gold and 55g/t silver over 1.1m, 15.1g/t gold and 532g/t silver over 0.4m, and 14.85g/t gold and 24g/t silver over 0.7m.