CANGOLD LIMITED (TSX VENTURE: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.

ON BEHALF OF THE BOARD

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

FOR FURTHER INFORMATION PLEASE CONTACT: 
BD Capital
604 685 6465
604 899 4303 (FAX)
info@cangold.ca
www.cangold.ca
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