Cancana Resources Corp.
TSX VENTURE : CNY

Cancana Resources Corp.

March 12, 2012 15:32 ET

Cancana Acquires Balance of Interest in 5 Manganese Claims in Rondonia, Brazil

VICTORIA, BRITISH COLUMBIA--(Marketwire - March 12, 2012) - Cancana Resources Corp. (TSX VENTURE:CNY) (the "Company" or "Cancana") is pleased to announce that further to the Company's news releases dated December 20th and 30th, 2010 when it announced it had acquired a 75% interest in 5 Manganese bearing claims in Rondonia, Brazil, Cancana has now acquired the remaining 25% interest and now controls 100% of the claims.

Over one year ago on December 20th 2010, Maio Mineracao, a subsidiary entity to Cancana, acquired a 75% interest in 5 mineral claims near Espigao, Rondonia from Tecnoweldco Ltda., ("Tecnoweldco").

Claim Number: 886298 7,230.40 Hectares
886299 4,021.22 Hectares
886255 3,397.46 Hectares
886074 9,920.63 Hectares
886076 3,395.77 Hectares

The acquisition of these claims was for all mineral rights contained within the claims however Cancana was focused on the Manganese components. During the past year Cancana has completed various pitting and exploration programs on these claims and continues to do so in an order to develop its interests in the area.

The 25% interest held by Tecnoweldco encompassed all resource developments on the claims by Maio and Cancana. Recently Tecnoweldco approached Cancana in an effort to obtain exclusive rights to explore and develop Tin resources on one of the claims, claim number 886298. Tecnoweldco wished to obtain an exclusive ability and access to a 100 Hectare designated area. Cancana and Tecnoweldco negotiated that in exchange for the rights to any and all Tin within the prescribed area, Tecnoweldco will relinquish its rights to the 25% carried interest in the quantum of the claims.

Cancana will continue to retain any and all mineral rights within the 100 Hectare area that do not include Tin. Director & CFO, Mr. Andrew Male remarks; "We are pleased to have 100% control of these 5 claims as it clarifies the ownership and enables Cancana to have an undivided interest. We now hold 17,421.80 hectares of claims with showings of high-grade manganese in Rondonia."

Cancana Resources Corp. is an exploration stage company with assets in Brazil and Canada. The Company has been seeking projects that expand its resource base and provide for near term production and revenue. All available resource reports and information on the Company's properties are located on the Company website.

Cancana continues to provide shareholders with Investor Updates, please ensure that you have already registered on the company website, if not please visit www.cancanacorp.com and input your name and email address on the home page.

Issued on behalf of the Board of Directors of Cancana Resources Corp.

Dr. William (Bill) Pfaffenberger, CEO and Director

The information in this news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this release, words such as "estimate", "expect", "anticipate" and "believe" as well as similar expressions are intended to identify forward-looking statements. Such statements are used to describe management's future plans, objects, and goals for the Company and therefore involve inherent risks and uncertainties. The reader is cautioned that actual results, performance or achievements may be materially different from those implied or expressed in such statements, which speak only as of the date the statements were made. The Company does not update forward-looking statements continually as conditions change. We seek safe harbour.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information