Cangold Limited
TSX VENTURE : CLD

Cangold Limited

June 23, 2008 12:33 ET

Cangold Appoints New Director, Announces Resignations

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 23, 2008) - CANGOLD LIMITED (TSX VENTURE:CLD) (the "Company") is pleased to announce the appointment of Martin Carsky to its Board of Directors.

Martin Carsky, CA, is a financial executive with over fifteen years experience in capital markets, mergers and acquisitions, restructuring, and corporate governance. He serves as the Executive Chairman of Metrobridge Networks International Inc. and acts as a consultant to several businesses. He is currently a Director of the following public companies: Metrobridge Networks International Inc., Pacific Safety Products Inc., and Anthem Ventures Capital Corp. Mr. Carsky serves as the Chairman of the Board of Metrobridge Networks, as Chairman of the Audit Committee for Pacific Safety Products and is a member of Great Panther Resources Limited's Advisory Board.

"Martin will add another layer of depth to the Company's financial reporting capabilities as the public company regulatory and compliance environment becomes increasingly demanding," said Robert Archer, P. Geo., the Company's President & CEO.

The Company also announces the resignations of directors Bryan J. Frost and Richard Revelins.

"We appreciate that Bryan's and Richard's growing responsibilities with other companies, as well as their overseas domiciles, make it increasingly difficult for them to continue to attend board and audit committee meetings. The Company wishes to thank them for more than a decade of strong support and expresses its gratitude for the contribution they have made during that time. The other directors join me in wishing them well in their future endeavours," said Kaare Foy, Cangold's Executive Chairman.

ON BEHALF OF THE BOARD

Kaare G. Foy, Executive Chairman

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