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CANGOLD LIMITED (TSX-V: CLD; the “Company”) has increased its previously announced 7,500,000 unit non-brokered private placement by a further 1,000,000 units. All other terms remain unchanged from the news release dated April 22, 2014.

The private placement is subject to acceptance by the TSX Venture Exchange.

FURTHER INFORMATION
For further information, please visit the Company’s website at www.cangold.ca or contact Erick Bertsch at telephone 604 638 8967, fax 604 608 1768 or e-mail [email protected]

ON BEHALF OF THE BOARD

“Robert A. Archer”

Robert 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.

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Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.