CANGOLD LIMITED (TSX-V: CLD; the “Company”) announces that Mr. Martin Carsky has resigned from his position as a director of the Company to focus on other commitments. “I want to thank Martin for his contributions to the Company and wish him well in his future endeavors” said Mr. Kaare Foy, Executive Chairman of Cangold.


Cangold Limited is a junior exploration company engaged in the exploration and development of gold projects in Mexico and Canada. The Company owns a 100% interest in the past-producing Argosy Gold Mine in northwestern Ontario and the prospective Plomo Gold Project in Sonora State, Mexico. Cangold is currently seeking an advanced stage gold project in Latin America that could be brought forward towards production.


FURTHER INFORMATION
For further information, please visit the Company’s website at www.cangold.ca or contact BD Capital at telephone 604 685 6465, fax 604 899 4303 or e-mail [email protected].


ON BEHALF OF THE BOARD

“Robert A. Archer”

Robert A. Archer, P. Geo.,
President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.