Mr. R.W. Garnett reports

GREAT PANTHER COMPLETES ACQUISITION OF CANGOLD

Great Panther Silver Ltd. and Cangold Ltd. have completed the previously announced plan of arrangement pursuant to which Great Panther has acquired all of the issued and outstanding common shares of Cangold. Cangold is now a wholly owned subsidiary of Great Panther. The arrangement was approved at Cangold's special meeting of shareholders held on May 22, 2015, by approximately 99.44 per cent of the votes cast by Cangold shareholders. Final approval for the arrangement was obtained from the Supreme Court of British Columbia on May 26, 2015.

As a result, the Cangold shares will be delisted from the TSX Venture Exchange and Great Panther will apply to the relevant securities commissions for Cangold to cease to be a reporting issuer under Canadian securities laws.

The arrangement

Under the arrangement, each Cangold share was exchanged for 0.05 of a common share of Great Panther. In addition, each outstanding option and warrant to acquire Cangold shares now entitles the holder thereof to receive, upon the exercise thereof, 0.05 Great Panther share in lieu of each Cangold share, at a price adjusted in accordance with the exchange ratio, and otherwise on the same terms and conditions as the original option or warrant.

Full details of the arrangement and certain other matters are set out in the management information circular of Cangold dated April 20, 2015. A copy of the information circular can be found under Cangold's profile on SEDAR.

Cangold shareholders who have questions or who may need assistance with the completion of letters of transmittal are advised to contact Computershare Investor Services Inc., the depository for the arrangement, at North American toll-free 1-800-564-6253 or e-mail corporateactions@computershare.com.

We seek Safe Harbor.