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Cangold Limited

Publié le 25 juin 2009

Acquires 100% of Argosy Gold Mine

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Re:   News Release - Wednesday, June 24, 2009
      CANGOLD ACQUIRES 100% OF ARGOSY GOLD MINE
=======================================================================

CANGOLD LIMITED (TSX-V: CLD, the "Company") announces that it has
acquired the 49% interest in the Argosy Gold Mine in the Red Lake
Mining Division of Ontario owned by its joint venture partner, Premier
Gold Mines.  The acquisition of Premier's interest gives Cangold a 100%
interest in this past producing gold mine, subject to a 2.5% NSR.  The
Argosy Gold Mine closed in 1952 after producing 101,875 ounces of gold
from 276,573 tons of ore at an average grade of 0.37oz/t (12.7g/t) gold
and was only mined to a depth of 270 metres. 

Since optioning the property, Cangold has drilled 4,200 metres in 17
holes on this high grade system and has demonstrated the continuity of
the gold zones to depth and by further delineating several of the
near-surface veins.  Furthermore, a new gold zone was discovered on the
property in the Casummit Creek area, where auriferous zones are
characterized by quartz-ankerite veins in silicified, sericitized
intermediate tuffs, argillite and mafic tuffs.  Mineralization
associated with the veining and altered host rock consists of
disseminated arsenopyrite, pyrrhotite and pyrite, with traces of
chalcopyrite and sphalerite.

Terms of the acquisition call for Cangold to issue to Premier a total
of 2 million shares of Cangold at a deemed price of $0.10 and a cash
payment of $10,000.  Premier will retain a 0.5% NSR, which can be
purchased for $500,000.  An underlying 2% NSR will remain in force.

In the current environment of rising gold prices, the Argosy Gold Mine
is a significant asset with potential for substantial resource
delineation.  Consolidating the ownership will allow Cangold the
opportunity to better realize the advancement of the project.

Robert F. Brown, P. Eng and Vice-President of Exploration for Cangold
is designated as the Qualified Person for the Argosy Gold Mine Project
under the meaning of NI 43-101 and has reviewed this news release. 

FURTHER INFORMATION
For further information please visit the Company's website at
www.cangold.ca or contact B&D Capital at telephone 604 685 6465, fax
604 899 4303 or e-mail info@cangold.ca

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.

=======================================================================
Copyright (c) 2009 CANGOLD LIMITED (CLD)  All rights reserved.  For
more information visit our website at http://www.cangold.ca/ or send
mailto:info@cangold.ca
=======================================================================
.
<

Cangold Limited

PRODUCTEUR
CODE : CLD.V
ISIN : CA1375881093
CUSIP : 137588109
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Cangold est une société d’exploration minière d'or basée au Canada.

Cangold détient divers projets d'exploration au Canada et au Mexique.

Son principal projet en production est CASUMMIT-ARGOSY au Canada et ses principaux projets en exploration sont ARGOSY et CASUMMIT LAKE au Canada et LOS VENADOS et PLOMO au Mexique.

Cangold est cotée au Canada. Sa capitalisation boursière aujourd'hui est 1,4 millions CA$ (1,1 millions US$, 1,0 millions €).

La valeur de son action a atteint son plus bas niveau récent le 24 décembre 2008 à 0,01 CA$, et son plus haut niveau récent le 17 décembre 2010 à 0,75 CA$.

Cangold possède 46 740 000 actions en circulation.

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Financements de Cangold Limited
06/06/2014Increases Non-Brokered Financing
24/02/2014Announces Non-Brokered Financing
29/08/2011Closes $5 Million Private Placement Fully Subscribed
30/05/2011 Cangold Effects Share Consolidation
22/12/2009CLD - CANGOLD CLOSES PRIVATE PLACEMENT OVERSUBSCRIBED
26/03/2008 Closes Over-Subscribed Private Placement
Attributions d'options de Cangold Limited
02/05/2008 Grants Stock Options
Nominations de Cangold Limited
18/04/2013CLD - Cangold Announces Resignation of Director
23/06/2008Appoints New Director, Announces Resignations
22/02/2008 Appoints Malcolm Burne To Board
Projets de Cangold Limited
11/09/2012CLD - CANGOLD TERMINATES OPTION ON IXHUATAN GOLD-SILVER PROJ...
11/06/2012Advances Metallurgical Program To Pre-Feasibility Level For ...
01/05/2012(Plomo)Commences Field Work At Plomo And Updates Ixhuatan Metallurg...
20/03/2012CLD - CANGOLD COMMENCES METALLURGICAL PROGRAM FOR IXHUATAN G...
09/01/2012CLD - CANGOLD ADVANCES IXHUATAN GOLD-SILVER PROJECT AND PROV...
13/06/2011CLD - Cangold Provides Update on Option of Ixhuatan Gold Pro...
25/06/2009(Argosy)Acquires 100% of Argosy Gold Mine
09/09/2008(Plomo)CLD - Cangold Reports On Phase I Drilling Program At Plomo
14/04/2008(Plomo) Identifies New Gold Zones And Commences Phase I Drilling Pr...
24/01/2008(Plomo) Samples Up To 298.0G/T Gold On Plomo Project
12/12/2007(Los Venados) Discovers Gold Zone At Los Venados
Communiqués de Presse de Cangold Limited
14/04/2015Cangold Announces Issuance of Bonus Shares
13/04/2015Cangold and Great Panther Silver Execute Definitive Arrangem...
13/04/2015Great Panther And Cangold Execute Definitive Arrangement Agr...
26/03/2015Announces Issuance of Bonus Shares
26/03/2015Cangold Announces Issuance of Bonus Shares
26/02/2015Cangold to Be Acquired by Great Panther Silver
15/01/2015Receives Option Payment Extension for the Guadalupe de los R...
15/01/2015Cangold Receives Option Payment Extension for the Guadalupe ...
08/12/2014Cangold Extends Warrants
18/11/2014Cangold Finalizes Surface Sampling of Gold-Silver Structures...
09/09/2014Cangold Reports High Grade Gold-Silver from Initial Surface ...
30/07/2014Cangold Commences Surface Work Program on Guadalupe de los R...
23/07/2014Cangold Receives Exchange Approval on Option to Acquire Mexi...
13/06/2014Cangold Closes Private Placement Oversubscribed
05/06/2014Cangold Increases Non-Brokered Financing
23/04/2014Cangold Re-Prices Non-Brokered Financing
22/04/2014Cangold Re-Prices Non-Brokered Financing
15/04/2014Cangold Signs Formal Option Agreement for Guadalupe De Los R...
22/01/2014Re-Engages Investor Relations Consultants; Grants Stock ...
03/12/2013CLD - CANGOLD EXTENDS WARRANTS
07/11/2013CLD - Cangold Adopts Advance Notice Policy
30/10/2012(Plomo)CLD - Cangold Discovers Four New Gold Zones At Plomo
30/10/2012(Plomo)Discovers Four New Gold Zones at Plomo
03/07/2012CLD - CANGOLD FURTHER AMENDS WARRANTS
21/06/2012Extends and Re-Prices Warrants
02/12/2011CLD - CANGOLD EXTENDS DECEMBER 21, 2009 WARRANTS
26/04/2011CLD - CANGOLD TO OPTION ADVANCED STAGE GOLD PROJECT IN MEXIC...
26/04/2011to Option Advanced Stage Gold Project in Mexico; Announces S...
26/11/2009CLD - CANGOLD ANNOUNCES $450,000 FINANCING
06/03/2009AMENDS WARRANT TERMS
17/02/2009CLD - CANGOLD ANNOUNCES $300=2C000 FINANCING
30/01/2008 Announces $1,008,000 Financing
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