Cangold Further Amends Warrants

Cangold Limited (TSX VENTURE:CLD) (the "Company") 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 "Premium Trading
Days"), 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.


Cangold Limited is a junior exploration company engaged in the exploration and
development of gold projects in Mexico and Canada. The option to acquire a
majority stake in the Ixhuatan Project for the development of the Campamento
Deposit is in furtherance of the Company's strategy to build a profitable gold
producer.


ON BEHALF OF THE BOARD

Kaare G. Foy, Executive Chairman

(TSXV:CLD)
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