Cangold Limited announces that, further to the News Release dated June 20, 2012, to meet TSX-V Policy requirements, the market price which triggers the accelerated exercise provision has been reduced from $0.30 to $0.26, so that, in the case of all warrants being re-priced, the exercise period will be reduced to 30 calendar days if, for any 10 consecutive trading days during the unexpired term of the warrants, the closing price of the common shares of the Company is at least $0.26. The reduced exercise period of 30 days will begin 7 calendar days after the 10th Premium Trading Day.