Can-Cal Resources Ltd.
OTC Bulletin Board : CCRE

Can-Cal Resources Ltd.

August 08, 2008 15:32 ET

Can-Cal Withdraws Previously Announced Results for its Wikieup and Pisgah Projects

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 8, 2008) - As a result of a review by the British Columbia Securities Commission, Can-Cal Resources Ltd. ("The Company") (OTCBB:CCRE) ("Can-Cal" or "the Company") is issuing the following news release to clarify its disclosure.

Can-Cal Resources Ltd. announces that as a result of findings in technical reports prepared by a Qualified Person under National Instrument 43-01 "Standards of Disclosure for Mineral Projects" ("NI 43-101"), the Company withdraws its previously announced results in its Press Release of August 28, 2006 in its Company Newsletter of November 21, 2006 for its Wikieup and Pisgah projects (the "Projects"). The Company retracts its previous disclosure of mineral reserves, mineral resources, other estimates of tons and grade, and any other economic analyses of each of its mineral properties, including Wikieup and Pisgah. The Company specifically advises the public not to rely on any such estimates as indicated in the Company's "forward-looking statements" section of its press releases.

In April 2008 the Company retained Duncan Bain, Consulting Geologist to prepare technical reports on the Projects. Bain determined that prior reports prepared by the Company were written without the guidelines of NI 43-101 and with the exception of analyses concluded by certain internationally recognized commercial laboratories, the prior reports were neither relevant nor reliable. Bain collected samples and sent the samples for testing, using processes not previously used by the Company.

On the Wikieup project Bain collected 14 samples of surface outcrop and float of vein material from the mining claims held by the Company for further testing. Based on his review, Bain concluded that the Wikieup Project is at a "grassroots" stage of exploration and that there is some potential for mineralization of sufficient grades to make the project economically viable. Bain recommended that the claims acquired by the Company should be mapped and prospected in detail, allowing for the development of trends for veining and other recognized mineralization as well as dyke patterns.

On the Pisgah Project, Bain took samples of crushed basaltic volcanic rock, which was analyzed by an internationally recognized commercial lab for further testing. The testing determined there were no significant values in gold, silver, Platinum Group Elements or base metals such as copper, lead or zinc. The company plans to continue with its testing program on the Pisgah property.

Based upon its and the qualified person's review and analysis to date, including the collection of samples from the Projects, the Company intends to continue its work on the Wikieup and Pisgah Properties. The Company expects to supplement and revise its work programs based on recommendations in the technical reports. The Company will continue its review and analysis of the Wikieup and Pisgah Properties and will provide updates as they are available.

The Technical reports are posted on Can-Cal's website

About Can-Cal

Can-Cal is an emerging precious metals exploration company actively engaged in identifying commercial mining opportunities. Can-Cal Resources Ltd. is a public company trading on the O.T.C. Bulletin Board (Symbol: CCRE). The Company is currently focusing its testing efforts on the Pisgah, California property and the Wikieup, Arizona property. The Owl Canyon, California property is being held as a future designated drill target. The Cerbat, Arizona property is currently for sale.

Forward-looking Statements

Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, including uncertainties relating to global political conditions, such as terrorism. Information with respect to important factors that should be considered is contained in the company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

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