Cangold Extends Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 3, 2013) - CANGOLD LIMITED (TSX-VENTURE:CLD) (the "Company") is extending the expiry date of 2,180,000 Series P share purchase warrants ("P Warrants") that are set to expire on December 20, 2013, to December 20, 2014. These warrants were originally issued on December 21, 2009.

The Company is also extending the expiry date of 2,596,000 Series Q share purchase warrants ("Q Warrants") originally issued on July 13, 2011 and 2,404,000 Series R share purchase warrants ("R Warrants") originally issued on August 25, 2011, both set to expire on December 31, 2013, to December 31, 2014.

There is no change in the exercise price of any of the warrants, which remains at $0.20 ($0.50 for 342,000 P Warrants held by insiders).

The expiry date extensions are subject to the approval of the TSX Venture Exchange.

Cangold Limited is a junior exploration company engaged in the exploration and development of gold projects in Mexico and Canada. The Company owns a 100% interest in the Argosy Gold Mine in northwestern Ontario and a 100% interest in the Plomo Project in northern Sonora, Mexico. The Company is seeking an advanced stage gold project in Latin America that could be brought forward into production.

ON BEHALF OF THE BOARD

Kaare G. Foy, Executive Chairman

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.

Cangold Limited(604) 608-1766info@cangold.cawww.cangold.ca

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