Mr. Kaare Foy of Cangold reports

CANGOLD ANNOUNCES ISSUANCE OF BONUS SHARES

The TSX Venture Exchange has approved the issuance of 1.06 million bonus common shares of Cangold Ltd. at a deemed price of five cents per bonus share to Great Panther Silver Ltd. under the terms of a loan agreement dated Feb. 25, 2015, among the company, its Mexican subsidiary and Great Panther previously announced on Feb. 26, 2015. The number of bonus shares represents 20 per cent of two further credit advances in the aggregate of $265,000 made by Great Panther to the company on March 31, 2015 ($205,000), and on April 7, 2015 ($60,000), under the terms of the loan agreement divided by the market price (as such term is defined in the TSX Venture Exchange policies) of the company's shares as of the close of business prior to the announcement of the loan agreement. The bonus shares are subject to a hold period under applicable securities laws of four months and one day from the date of issuance.

A copy of the loan agreement is available under the company's profile on SEDAR.