Cancor Mines Inc.
CNSX : KCR

Cancor Mines Inc.

May 20, 2008 10:27 ET

Cancor Mines acquires another major Gold property in Algeria

MONTREAL, May 20 - Cancor Mines is pleased to announce that
its wholly-owned subsidiary Tirek Resources LP (Tirek Resources) has been
awarded a prospecting permit for a significant gold exploration project in
Algeria known as Tirek North. Cancor's subsidiary acquired the permit through
a competitive auction process conducted by the Agence Nationale du Patrimoine
Minier (ANPM), the sole government agency authorized to grant permits in
Algeria. The Tirek North site is owned by the Algerian State and is located in
the Hoggar region, 380 km south west of the town of Tamanrasset.
The Tirek North permit covers an area of 98,990 hectares (990 km2) and
encompasses 40 km of a major fault which is highly prospective for gold. To
the south of the property the same structure hosts two major gold deposits
(Tirek and Amessmessa), one of which is currently in production (Amessmessa).
The Tirek deposit, in particular, is located approximately 12 kilometers from
the southern boundary of the permit acquired by Cancor.
With this third gold project in Algeria (the first two permits Cancor
acquired are the Tan Chaffao West and In Ouzzal North projects which are
respectively a Gold-Copper project and a Gold project - see press releases
dated June 12 and July 31, 2007), Cancor and its subsidiary are setting up the
organizational and technical infrastructures required to support the ground
operations.

Cancor Mines Inc. is a Canadian mining company engaged in the exploration
and development of properties with gold and base metal potential in
established mining camps.
All recent Cancor Mines press releases are available on the Company's
Website: www.cancor.ca. This press release has been read and approved by
Mr. Khobzi, an engineer and qualified person for the purposes of NI 43-101.

Caution concerning forward-looking statements

This press release contains certain "forward-looking statements",
including, but not limited to, the statement regarding exploration work and
the emphasis on looking for a certain type of deposit. Forward-looking
statements involve a number of risks and uncertainties. There can be no
assurance that such statements will prove to be accurate. Actual results and
future events could differ materially from those anticipated in such
statements. Risks and uncertainties that could cause results or future events
to differ materially from current expectations expressed or implied by the
forward-looking statements include, among other things, those set forth in
Cancor's 2007 Annual Information Form, a copy of which can be obtained on the
SEDAR website at www.sedar.com.

Contact Information

  • For further information: Mr. Khobzi, President, Montréal, (514)-849-3013