Cancana Resources Corp.

Cancana Resources Corp.

October 04, 2012 08:30 ET

Cancana Announces Commencement of Initial Work to Establish NI 43-101 Report on Its Manganese Claims

VICTORIA, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2012) - Cancana Resources Corp. (TSX VENTURE:CNY) (the "Company" or "Cancana") is pleased to announce that it will commence initial work to establish a NI 43-101 report on its High Grade Manganese Claims in Rondonia, Brazil.

Cancana has engaged John Harper, ("Harper"), Professional Geologist, and Qualified Person, to commence an NI 43-101 Report on the Company's high grade Manganese Claims. Cancana holds some 370 square kilometres of Manganese Claims and these will require a comprehensive approach to establish the size and scope of the resource. Initially Harper will review the entire mineral claim area, and in conjunction with Cancana management, determine the initial areas of Reporting.

It is anticipated that the basis of the NI 43-101 Report will be used to establish the initial area for commencement of trial mining. The Company intends to commence trial mining as soon as possible with the final approval of a Guia or Trial Mining Permit. The research being completed under the NI 43-101 Report will be a valuable contribution to trial mining, as it will have effectively acted as an exploration program in its commencement stages.

To date, Cancana has completed internal research that demonstrates Manganese grading of between 48% to 52%. This has been established with over 150 pits being dug as well as extensive trenching. Over 50 samples of Manganese have been assayed for the Company directly and Cancana's technical team has reviewed over 200 assay results from other operations in the area all showing the same grades.

Mr. Harper has over 30 years industry experience in base and precious metal, uranium and diamond exploration. He is a member in good standing of the Association of Professional Engineers, Geologists and Geophysicists of Alberta (APEGGA). His international experience has taken him to projects throughout North America, Brazil and Africa. Early in his career he was integral within a very successful team responsible for multiple discoveries of economic Athabasca Basin uranium deposits. Later, while working for Noranda Exploration, he managed several base and precious metal exploration programs in Ontario, Saskatchewan and NWT, he took a leadership role in bringing digital mapping technologies to Noranda's Thunder Bay office. As a consulting geologist, he has been responsible for precious metal exploration programs in Nevada and Canada. For the past several years his expertise has taken him to Brazil where he has managed comprehensive exploration programs for diamonds and manganese. He has co-authored NI 43-101 compliant reports for both American and Canadian based companies.

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:

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

Andrew Male, 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.

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