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    Cangold Appoints New Director, Announces Resignations
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CANGOLD LIMITED (TSX-V: CLD; the "Company") is pleased to announce the
appointment of Martin Carsky to its Board of Directors.

Martin Carsky, CA, is a financial executive with over fifteen years
experience in capital markets, mergers and acquisitions, restructuring,
and corporate governance.  He serves as the Executive Chairman of
Metrobridge Networks International Inc. and acts as a consultant to
several businesses.  He is currently a Director of the following public
companies: Metrobridge Networks International Inc., Pacific Safety
Products Inc., and Anthem Ventures Capital Corp.  Mr. Carsky serves as
the Chairman of the Board of Metrobridge Networks, as Chairman of the
Audit Committee for Pacific Safety Products and is a member of Great
Panther Resources Limited's Advisory Board.

"Martin will add another layer of depth to the Company's financial
reporting capabilities as the public company regulatory and compliance
environment becomes increasingly demanding" said Robert Archer, P.
Geo., the Company's President & CEO. 

The Company also announces the resignations of directors Bryan J. Frost
and Richard Revelins.

"We appreciate that Bryan's and Richard's growing responsibilities with
other companies, as well as their overseas domiciles, make it
increasingly difficult for them to continue to attend board and audit
committee meetings.  The Company wishes to thank them for more than a
decade of strong support and expresses its gratitude for the
contribution they have made during that time.  The other directors join
me in wishing them well in their future endeavours," said Kaare Foy,
Cangold's Executive Chairman.

For further information please visit the Company's website at
www.cangold.ca or contact Don Mosher, at telephone 604 685 6465, fax
604 899 4303 or e-mail info@cangold.ca

ON BEHALF OF THE BOARD

Signed "Kaare G. Foy"

Kaare G. Foy, Executive Chairman

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Copyright (c) 2008 CANGOLD LIMITED (CLD)  All rights reserved.  For
more information visit our website at http://www.cangold.ca/ or send
mailto:info@cangold.ca
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