CLD

CANGOLD LIMITED (TSX VENTURE:CLD) (the "Company") announces that its board of
directors has approved an advance notice policy (the "Policy") for the purpose
of providing shareholders, directors and management of Cangold with a clear
framework for nominating directors of the Company.


The Policy is designed to further Cangold's commitment to: (i) facilitating an
orderly and efficient annual general or, where the need arises, special meeting,
process; (ii) ensuring that all shareholders receive adequate notice of the
director nominations and sufficient information with respect to all director
nominees; and (iii) allowing shareholders to register an informed vote after
having been afforded reasonable time for appropriate deliberation.


The Policy contains a provision requiring advance notice to Cangold in certain
circumstances where shareholders of Cangold nominate individuals for election to
the board of directors. The Policy establishes deadlines by which director
nominations must be submitted to Cangold prior to any annual or special meeting
of shareholders and also outlines the information that must be included in the
notice to Cangold for an effective nomination to occur.


The deadline for notice to Cangold in the case of an annual meeting of
shareholders is not less than 30 days nor more than 65 days prior to the date of
the annual meeting; provided, however, that in the event that the annual meeting
is to be held on a date that is less than 50 days after the date on which the
first public announcement of the date of the annual meeting was made, notice may
be made not later than the close of business on the 10th day following such
public announcement.


In the case of a special meeting (which is not also an annual meeting) of
shareholders called for the purpose of electing directors (whether or not called
for other purposes), the deadline for notice to Cangold is no later than the
close of business on the 15th day following the day on which the first public
announcement of the date of the special meeting was made.


The Policy is effective as of October 30, 2013 and will be placed before
shareholders for approval at the annual and special general meeting to be held
on December 13, 2013 (the "Meeting"). If the Policy is not approved and ratified
by shareholders at the Meeting it shall terminate and be void and of no further
force and effect following conclusion of the Meeting. The full text of the
Policy is available via SEDAR at www.sedar.com.


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 Argosy Gold Mine in northwestern Ontario and a 100% interest in
the Plomo Project in northern Sonora, Mexico. The Company is seeking an advanced
stage gold project in Latin America that could be brought forward into
production.


FURTHER INFORMATION 

For further information, please visit the Company's website at www.cangold.ca. 

ON BEHALF OF THE BOARD

Kaare G. Foy, Executive Chairman

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
BD Capital
604 685 6465
604 669 0384 (FAX)
info@cangold.ca
www.cangold.ca

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