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Amends Warrant Terms

posted on Mar 06, 2009 12:00PM
March 6, 2009
Cangold Amends Warrant Terms
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 6, 2009) - CANGOLD LIMITED (TSX VENTURE:CLD) (the "Company") is amending the terms of the 2,962,500 non-transferable share purchase warrants (Series N) issued on March 25, 2008.

Subject to TSX Venture Exchange approval, the exercise price of the warrants will be changed from $0.25 to $0.10, and the expiry date of the warrants will be extended from March 24, 2009 to March 24, 2010; provided that the exercise period will be reduced to 30 calendar days if, for any 10 consecutive trading days during the unexercised term of the warrant (the "Premium Trading Days"), the closing price of the common shares of the Company is at least $0.125. The reduced exercise period of 30 days will begin 7 calendar days after the 10th Premium Trading Day.

ON BEHALF OF THE BOARD

Kaare G. Foy: Executive Chairman

CANGOLD LIMITED
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