Managemenrt

& Directors

Mr. Andrew Lee Smith, B.Sc., P.Geo.
Chairman & C.E.O.

Mr. Smith has over 20 years of experience in successfully exploring, developing and operating North American base and precious metal mining and gem projects. Mr. Smith joined Aurizon Mines Ltd. in 1985 and resigned in 1998 from the position of vice-president of exploration.

Mr. Smith is the co-founder of True North Gems, the company that is exploring and developing the first significant emerald and sapphire deposits in the Yukon. Mr. Smith holds a BSc and is a professional geologist as well as a member of the Association of Professional Engineers and Geoscientists of British Columbia.

Mr. Randy V.J. Smallwood, P.Eng
Independent Director

Mr. Smallwood is a geological engineer that brings over twenty years of exploration and mining experience to the Canaco board. Mr. Smallwood has a wealth of experience in mineral exploration, mine development and mine operations, working with companies such as Teck Cominco, Homestake, and Westmin Resources on North American mineral exploration and mine development projects from 1986 to 1994.

He joined Wheaton River Minerals Ltd. in 1994 and played a major role in the operational success of the Golden Bear Mine, transforming Wheaton River into a successful junior gold mining company. In 2001, Mr. Smallwood joined the Wheaton River corporate office as the Director of Corporate Development, and was responsible for the technical portion of all project and corporate evaluations within the Wheaton River / Goldcorp / Silver Wheaton group of companies. Mr. Smallwood is currently the Executive Vice President, Corporate Development for Silver Wheaton Corp.

Mr. David Parsons, C.G.A.
Independent Director & Chairman of the Audit Committee

Mr. Parsons is currently Director, Corporate Services and Financial Analysis for Goldcorp Inc. Mr. Parsons is a Certified General Accountant with over 20 years experience in the mining industry, having served in the roles of Controller, Chief Financial Officer and Director of mining companies. Since 2001 Mr. Parsons worked with Wheaton River Minerals Ltd. and was directly involved in the acquisitions by Wheaton and the merger with Goldcorp.

Mr. Brian Lock
Director

Mr. Lock is currently the executive vice-president, Frontier Pacific Mining Corp. Mr. Lock has over 30 years of experience in the operations, feasibility, design engineering and construction of numerous precious metals and base metal mining projects around the world. Initially Mr. Lock held senior positions with a major international mining consortium and two major engineering companies, before, in 1985 forming and becoming president of Proton International Engineering Corp., a Canadian engineering and construction company devoted to the development of small- and medium-sized mining projects. Additionally Mr. Lock has managed and/or served as a director of several Canadian public and private companies.

Mr. Geoffrey D.G. Peretz
Director

Mr. Peretz has been in the investment industry for over 20 years specializing initially in discretionary portfolio management and Domestic and Offshore Trusts and more recently in early stage corporate financing, structuring and proof of concept.

Technical

Advisory board

Mr. David W. Moore, MSc., P. Geo.
Advisory Board Chairman

Mr. Moore has spent most of his 30+ year career with Teck Cominco Ltd. (Cominco Ltd., Cominco Resources International, Cominco American Incorporated). Most recently (1999-2001) acting as general manager of global exploration and (2001-2003) as general manager of exploration and business development. In addition to the preceding, Mr. Moore held a number of directorships over the past decade, including with Cominco Argentina Ltd., Cominco Brazil Ltd., Cominco Madencilik Sanayi A.S., Cominco Mexico S.A. de C.V. and Cominco Namibia Ltd.

Mr. Moore's experience in both base and precious metals ranges from grassroots exploration to feasibility and project development. Mr. Moore holds an MSc in geology and the PGeo designation from the Association of Professional Engineers and Geoscientists of British Columbia. He is currently a member of the honorary advisory board of the British Columbia & Yukon Chamber of Mines.

Ms. Joanne Freeze, B.Sc., P. Geo.

Ms. Freeze is the President, Chief Executive Officer and Director of Candente Resource Corp. Ms. Freeze obtained a bachelor of arts in geography from the University of Western Ontario in 1978 and a bachelor of science in geology from the University of British Columbia in 1981.

Since entering the mineral exploration business in 1979, Ms. Freeze has managed exploration programs and evaluated projects for numerous international mining companies, both juniors and majors, such as Queenstake Resources Ltd., Arequipa Resources Ltd., Mountain Province Mining Inc., Placer Dome Inc., Dia Met Minerals Corp., Hughes-Lang Group and Utah Mines Ltd. (BHP). Exploration targets have included nearly all types of mineral deposits but gold has been the dominant focus. Ms. Freeze will advise the company on corporate matters related to financing and market awareness and as well will bring to the company her technical expertise in the area of exploration on properties that the company acquires.

Dr. Alan Carter, B.Sc., PhD.

Dr. Carter has a BSc degree in geology from the University of Nottingham, U.K., and a PhD from the University of Southampton, U.K., and has 18 years of experience in the minerals exploration industry.

Dr. Carter spent seven years working for Rio Tinto Corp. in South America and the United Kingdom before resigning his position as exploration manager, Bolivia in 1996 to join Balaclava Mines as president and chief executive officer. At Balaclava, Dr. Carter oversaw the acquisition and exploration of a number of gold projects in Peru and Ecuador. He joined Billiton PLC in 1998 and moved from Peru to Vancouver, B.C., in 2000 where he was instrumental in the development of an aggressive strategy aimed at developing partnerships with junior exploration companies. Following the merger with BHP, Dr. Carter assumed the role of manager, business development for BHP Billiton Diamonds where he was responsible for the commercial aspects of BHP Billiton's global portfolio of nickel and most recently diamond exploration projects. Dr. Carter is currently the chief operating officer of Peregrine Diamonds Ltd.