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CANCANA SIGNS EXCLUSIVE AGREEMENT TO PURCHASE 100% OF RIO MADEIRA
Vancouver, Canada – February 8, 2013 – Cancana Resources Corp. (TSXV: CNY) (the “Company” or “Cancana”) is pleased to announce it has entered into an exclusive Memorandum of Understanding, (“MOU”), to purchase Rio Madeira Comercio Importacao E Exportacao De Minerios, ("Rio Madeira") in the State of Rondonia, Brazil.
The exclusive MOU that has been agreed between Cancana and Rio Madeira is for the 100% acquisition of the Rio Madeira corporate entity and all of its associated assets, mineral claims and operations. It is subject to the successful completion of due diligence and financing, which expires on April 30, 2013.
Rio Madeira is a producing Manganese mine operation, producing lump ore of varying sizes and is located adjacent to, and mainly contiguous with, Cancana’s Manganese claims. Rio Madeira holds title to 15 mineral claims that total approximately 62,000 hectares in size. Also included are 3 full mining licenses known as a “Lavra”.
Cancana and Rio Madeira have commenced establishment of due diligence requirements and these are underway. This will include the review of all financial and operational aspects of Rio Madeira as well as a geo technical review of the mineral claims held. Present grades of Manganese produced are in the 50% plus range according to Rio Madeira, these are similar to the grades Cancana has reported in the two recent N.I. 43-101 reports published for its Valdirao project known as “241NC”.
In the past year Rio Madeira has made substantial improvements to their production and processing facilities. These include the streamlining of the initial ore processing, screening, washing and sorting, as well as the ability to commence the recovery of the “fines”, or granular Manganese ore. In turn this affords Rio Madeira the ability to access the fertilizer industry as well as the steel and Ferro Manganese markets.
Andrew Male, President & CEO of Cancana, commented; “We are very pleased to have signed an MOU with the owners of Rio Madeira. During the last 7 days I have visited their production plant in Espigao, and I am very encouraged by the progress that Rio Madeira has made with ongoing modifications and upgrades to their processing facilities. As we are completing the due diligence of Rio Madeira we will then concurrently begin to seek the acquisition financing required to complete the purchase. Having maintained a good ongoing relationship with the partners of Rio Madeira since late 2010, when we originally tried to establish a partnership with them, has been key in successfully obtaining this agreement for a 100% acquisition.”
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: www.cancanacorp.com
For further information about Cancana Resources Corp., please visit the Company’s website or contact the Company via email at cancana.ir@cancanacorp.com or telephone +1 403 269 2065, or CHF Investor Relations attention: Morgan Tyghe, Account Manager email: morgan@chfir.com.
Issued on behalf of the Board of Directors of Cancana Resources Corp. “Andrew Male”
Andrew Male, CEO and Director
Brigadier Gold samples up to 170.8 g/t Au at Tsiquire
Brigadier Gold Ltd (2) (C:BRG)
Shares Issued 59,633,063
Last Close 11/2/2012 $0.115
Tuesday November 06 2012 - News Release
Mr. Denis Hayes reports
BRIGADIER GOLD (TSX VENTURE:BRG) ANNOUNCES SIGNIFICANT GOLD ASSAYS OVER 1.2 SQUARE KILOMETRES
Brigadier Gold Ltd. has released the assay results of its recently completed due diligence sampling of the Tsiquire project, near Gorongosa, Mozambique.
In total, 41 samples were collected in October of 2012, in addition to the samples collected in June of 2012 during the initial property visit. The highest gold values were 170.8 g/t, 86.5 g/t, 80.6 g/t, 69.3 g/t and 58.4 g/t gold.
The above samples were collected at the large widely separated artisanal workings on the property. These workings, labelled the Group 1 to 5 Workings, stretch in a northeasterly direction for nearly 1.5 kilometres and extend laterally for 800 metres. The workings are large and extend some 20 to 25 metres in depth. Some have a surface area of over 2000 square metres and have over 150 workers extracting gold. The geology within the workings is remarkably uniform and comprises gently dipping, multiple, bedding-conformable quartz veins and veinlets contained within largely decomposed meta-sedimentary rocks.
The sampled area comprises 1.2 square kilometres within the 25.6 square kilometre Tsiquire Property.
- The first area with strong sample results is Group 2, the southwesternmost area on the Property (please see the sample map on our website). Samples from this area range from 0.05 g/t gold to 170.8 g/t gold, the latter being identical to high-grade material collected from the Group 4 Workings 1.5 kilometres to the northeast.
- Group 3 Workings are located approximately 300 metres to the northwest of Group 2. Samples collected from the Group 3 Workings assayed from a high of 80.6 g/t to a low of 0.36 g/t gold. Included here are samples of 58.4 g/t and 28.0 g/t gold.
- Multiple highly anomalous grab and channel samples were collected from the Group 1 and 5 Workings, located 250 and 600 metres to the northeast of Group 2. The Group 1 Workings comprise the largest and most active workings on the Property.
- Two samples collected from poorly developed workings, located approximately 250 metres to the east of the Group 5 Workings, contain 19.1 g/t and 13.1 g/t gold.
- Group 4 Workings comprise the northeasternmost area visited and are located approximately one kilometre northeast of the Group 5 Workings. Samples here range from 86.5 g/t to a low of 0.01 g/t gold, with the high-grade material identical to that seen in the Group 2 Workings. Artisanal workers at the Group 4 Workings indicate that other workings are located further to the east of Group 4. These were not located or visited.
Please see the table located at the end of the news release for all the assay results.
Sets of quartz veins and veinlets ranging in thickness from several millimetres to 40 centimetres occur over thicknesses of up to 4 metres. These sets of quartz veins and veinlets can occur at variable vertical intervals of between 6 and 15 metres, as observed to date, down the sedimentary succession. Higher grades (multi-ounce) veins occur within the quartz sets and these have been the focus of garimpeiro activity to date. Four of these high-grade veins have been sampled by Brigadier at widely scattered localities on the Property. All show a significant sulphide content and/or oxide content after sulphides, along with multi-ounce silver grades.
The company believes that these extremely strong sample results combined with the apparent surface expression of the mineralization make a compelling case for further exploration. The weathered nature of the area would easily facilitate an open pit type of mining operation. The company's further commitment to the project's development by detailed exploration is necessary to verify the project's vast potential.
Exploration at the Tsiquire Project is being conducted by personnel of Discovery Consultants of Vernon, BC. Thomas H. Carpenter, PGeo, of Discovery is the QP responsible for the preparation of this release. Mr. Carpenter is not independent of Brigadier by virtue of being a holder of incentive stock options. Samples collected by Mr. Carpenter during the June and October, 2012, site visits were sealed and shipped via bonded courier to the facilities of Acme Analytical in Vancouver, B.C., for analyses. Acme's quality control system complies with International Standard ISO 9001:2000 requirements. Analytical accuracy and precision are monitored by the analyses of reagent blanks, reference materials and replicate samples. Quality control is further assured by the use of international and in-house standards.
Rock Sample Results:
Sample ID Au g/t Ag g/t Pb ppm
624866 0.0 0.00 8
624867 0.7 0.02 96
624868 1.1 0.02 83
624869 170.82 96.50 greater than 10,000
624883 0.0 0.10 42
624884 0.1 0.36 161
624885 1.0 0.72 145
624886 0.1 0.08 18
624887 0.0 0.04 13
624888 0.4 0.04 25
624889 0.0 0.01 9
624890 0.0 0.02 14
624891 0.5 0.02 34
624892 0.8 0.28 194
624893 19.1 4.73 88
624894 13.1 1.41 21
624895 0.1 0.03 27
624896 1.3 0.31 128
624897 0.1 0.07 17
624898 0.0 0.05 13
624899 0.3 0.04 26
624900 0.0 0.02 14
624901 0.0 0.00 2
624902 0.2 0.01 3
624903 0.0 0.00 4
624904 0.0 0.03 3
624905 0.0 0.01 8
624906 0.8 0.69 48
624907 7.22 3.07 13
624908 0.0 0.01 2
624909 86.5 62.84 3639
624910 69.3 100.00 greater than 10,000
624911 0.4 0.60 239
624912 80.6 3.23 220
624913 58.4 11.20 414
624914 0.5 0.09 16
624915 28.0 2.01 112
We seek Safe Harbor.
Brigadier appoints Hayes director, Phillips IR adviser
Brigadier Gold Ltd (2) (C:BRG)
Shares Issued 49,644,299
Last Close 5/8/2012 $0.11
Thursday May 10 2012 - News Release
Mr. Grant Hall reports
BRIGADIER GOLD ANNOUNCES APPOINTMENT OF DENIS HAYES AS DIRECTOR AND ANDREW PHILLIPS THROUGH MRP CAPITAL CORP. AS INVESTOR RELATIONS ADVISOR
Brigadier Gold Ltd. has appointed Denis Hayes of Kelowna, B.C., as a new director. Mr. Hayes was instrumental in bringing the Mozambique opportunity to Brigadier and will work on its development in the months ahead.
Mr. Hayes has been involved in every phase of the development and finance of mineral exploration companies for over 30 years. After a distinguished career at a leading Canadian brokerage firm, Mr. Hayes continues to conceptualize, finance and manage successful mining companies, raising millions of dollars for resource development through his network of brokers, institutions and individual investors.
"I've spent the greater part of the last 24 months in Africa, particularly east Africa, looking for large world-class, mineral deposits. I've observed the potential in Mozambique first-hand and couldn't be more pleased than to be involved with Brigadier Gold as it works to capitalize on my team's effort there for the past months," commented Mr. Hayes.
Brigadier also announced the appointment of Andrew Phillips through MRP Capital Corp. of Vancouver as investor relations adviser. As part of his compensation, he will receive an option to purchase 300,000 shares exercisable at 11 cents per share vesting at a rate of 75,000 shares every three months.
Mr. Phillips has been involved in the development, management and marketing of public companies over a number of years. His ability and expertise, particularly in the areas of fundraising and corporate communications, will have a very positive impact on Brigadier Gold and help the company deliver value to its shareholders.
© 2012 Canjex Publishing Ltd.
Brigadier closes $822,500 offering, Mozambique takeover
2012-05-03 10:48 PT - News Release
Shares issued 49,368,299
BRG Close 2012-05-01 C$ 0.07
Mr. Grant Hall reports
BRIGADIER GOLD ANNOUNCES CLOSING OF PRIVATE PLACEMENT FINANCING AND MOZAMBIQUE GOLD CORP. ACQUISITION
Further to its press releases dated March 29, 2012, March 30, 2012, April 10, 2012, and April 12, 2012, Brigadier Gold Ltd. has closed an $822,500 private placement financing, the proceeds of which will be used for general corporate purposes and as described below. The private placement consisted of the issuance of units at a price of five cents per unit, with each unit consisting of one common share and one common share purchase warrant, each warrant entitling the holder to purchase one common share over a two-year period at a price of 10 cents per common share.
In connection with the private placement, Brigadier has paid to finders (i) cash fees of 8 per cent on that portion of the funds raised by the respective finder and (ii) warrants to purchase common shares equal to 8 per cent of the number of units sold by Brigadier through the respective finder's introduction(s) at 10 cents for a period of 12 months following closing.
In addition to the private placement, Brigadier is pleased to report that it has completed the acquisition of all of the issued and outstanding shares of Mozambique Gold Corp., in exchange for the payment of $2.00 to the vendor of MGC. In addition, Brigadier has agreed to cause MGC to repay a shareholder loan in the amount of $325,000, which moneys were raised through the private placement. MGC owns proprietary due diligence information, research material and reports on several gold exploration projects in Mozambique.
Cancana completes $385,000 private placement
2012-05-03 10:09 PT - News Release
Shares issued 16,409,953
CNY Close 2012-05-02 C$ 0.25
Dr. William Pfaffenberger reports
CANCANA CLOSES ON PRIVATE PLACEMENT
Cancana Resources Corp.'s non-brokered private placement of units, at 50 cents per unit, which was previously announced on March 29, 2012, has now been submitted to the TSX Venture Exchange for final approval.
The Offering consisted of a total of 770,000 Units for a gross amount of CDN$385,000.00, each Unit consists of one (1) common share and one (1) non-transferable share purchase Warrant. Each Warrant is exercisable into one additional common share at $0.75 per share for 24 months from the date of Closing of the Private Placement. A finder's fee will to be payable in accordance with the policies of the TSXV.
Cancana intends to use the proceeds from the Offering for continuation of the development of its properties and general working capital.
Pursuant to Policy 5.9 of the TSXV and Multilateral Instrument 61-101 ("MI 61-101"), the private placement may be classified as a "related party transaction" as certain directors and officers of the Corporation (the "Related Parties") are subscribing for common shares. In reviewing the applicable valuation requirements under MI 61-101, the Corporation has determined that the exemption set out in subsections (a) and (b) in section 5.5 of MI 61-101 are applicable since the aggregate consideration to be paid by the Related Party does not exceed 25% of the market capitalization of the Corporation as at the date hereof and the Corporation is only listed on the TSXV and is not listed or quoted on any of the specified markets listed in subsection 5.5(b). In addition, in reviewing the minority shareholder approval exemptions, the independent directors determined that the exemption set out in subsections (a) and (b) in section 5.7 of MI 61-101 is applicable.
The securities issued pursuant to the Offering are subject to a hold period expiring four (4) months and one day from the date that the TSXV issues its final bulletin.
We seek Safe Harbor.
Cancana to hold meeting for spinoff plan June 12
2012-04-13 08:58 PT - News Release
Shares issued 16,409,953
CNY Close 2012-04-12 C$ 0.43
Dr. William Pfaffenberger reports
Cancana Resources Corp.'s board of directors, further to the company's press release dated March 20, 2012, will hold a special meeting of the shareholders on June 12, 2012, for the purposes of approving a plan of arrangement (PoA), for the spinoff of certain assets into various subsidiary companies.
The board has also set May 7, 2012, as the record date.
At the annual general meeting (AGM), in Victoria, B.C., on March 9, the company announced that the Board of Directors had chosen to segregate its minerals classes into new and distinct companies by way of a spin-off strategy. The objective here was to separate the Gold and Diamond opportunities from the Manganese opportunities. In turn each of the companies will then become a "pure play" in nature and not have co-mingled mineral classes.
This process will be completed by way of a Plan of Arrangement ("POA") with the creation of a set of subsidiary companies. The first subsidiary will see the spin-off of a gold property in British Columbia known as Dash. Secondarily the diamond and gold assets from Brazil will be transitioned as well.
Cancana will create five spin-off companies in total and will seek qualifying projects for the companies that it does not use internally. Cancana intends to replicate the share structure on a 1 for 1 ratio which means that for every one share of Cancana held, that shareholder will receive one share in each of the five spin off companies. The date for the distribution of shares from the spin-off companies will be determined at a time by the Board of Directors and a corresponding news release will be issued.
The Company has a Private Placement open at this time and investors in the Private Placement will benefit further by way of being able to exercise Share Purchase Warrants that are part of the Unit Placement of $0.50 each. The Share Purchase Warrants are eligible for 2 years and exercisable at $0.75. The Share Purchase Warrants will be extended into the spin-off companies as well. Should anyone be interested in participating in this private placement please contact the Company.
We seek Safe Harbor.