Cancana Resources Corp.
TSX VENTURE : CNY

Cancana Resources Corp.

September 15, 2014 09:00 ET

Cancana's Joint Venture Brazil Manganese Corporation Closes Acquisition of Manganese Processing Plant and Claims Owned by Eletroligas Ltda's in Espigao do Oeste

TORONTO, ONTARIO--(Marketwired - Sept. 15, 2014) - Cancana Resources Corp. (TSX VENTURE:CNY) (the "Company" or "Cancana") is pleased to announce that its Brazil joint venture (JV) has closed on the acquisition of Eletroligas Ltda's manganese processing plant and 3 claims totaling 14,986.49 hectares, in Espigao do Oeste, Rondonia, Brazil.

Manganese cobbles have been stockpiled over the last few weeks, from the Jaburi 3 and 5 claims; and the plant will be restarted on September 15, 2014.

With the addition of these 3 claims, the JV now has over 92,073 hectares of high-grade manganese claims in Espigao do Oeste.

Anthony Julien, CEO of Cancana, commented; "It has taken 3 months longer than planned to close this deal due to issues that had to be overcome with landholder surface rights. The JV has taken on the Eletroligas employees and they are working with the management team to ensure that the plant start up goes smoothly. The JV engineering team has already conducted a mass balance and trial production run with good results. With Eletroligas going into production this week, the JV is on track to make the forecast initial production of 8,000 tons for the year."

About Cancana

Cancana is an exploration stage company that has transitioned into production through a joint venture with Ferrrometals. The joint venture is focused on developing manganese production in Rondonia, Brazil. BMC has acquired an established manganese producer Rio Madeira and Eletroligas who's claims are adjacent to and mainly contiguous with Cancana's MLB manganese operation. All available resource reports and information on the Company's properties are located on the Company website www.cancanacorp.com.

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

Senator J. Trevor Eyton, Chairman of the Board

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. This press release contains forward-looking information under Canadian securities legislation. forward-looking information includes, but is not limited to, statements with respect to completion of the Financings, the development potential and timetable of the Rio Madeira project and Cancana's other assets in Brazil and Canada; Cancana's ability to raise additional funds necessary; the future price of manganese, the estimation of mineral reserves and mineral resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Cancana to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Cancana and in its public documents filed on SEDAR from time to time. Although management of Cancana has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cancana does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

Contact Information