SPA Spanish Mountain Gold Ltd.

Cancana Resources Corp. (TSX VENTURE:CNY) (the "Company" or "Cancana") is
pleased to announce that it has agreed to a provisional extension to the Share
Purchase Agreement, ("SPA"), with the shareholders of Rio Madeira Comercio
Importacao E Exportacao De Minerios, ("Rio Madeira"). 


Cancana and Rio Madeira have agreed to extend the Closing and Completion Date of
the SPA to October 4, 2013. The reason for the extension to October 4, 2013 is
to allow both Cancana and Rio Madeira to consider financing options, structures
and proposals. Cancana has been marketing financing for the development of its
own green-field project, Valdirao, as well as the acquisition financing needed
to conclude the purchase of Rio Madeira. 


At this time it is contemplated that Cancana will be making an alternate or
modified proposal to Rio Madeira, for the acquisition of Rio Madeira, on or
before October 4, 2013 that will consider some of the conditions and
requirements that financing proposals already presented to Cancana may and will
require. Rio Madeira has expressed their willingness to consider all aspects
have provisionally agreed to modifications of terms as needed to facilitate
financing. 


Andrew Male, President & CEO of Cancana, commented; "I would like to start by
thanking the Partners of Rio Madeira for their ongoing cooperation and positive
involvement in this process. It has and is a pleasure working with them. We are
keen to conclude this acquisition as soon as possible however the complexity of
the transaction is taking time. In the interim we have continued to make good
progress with our green-field project, Valdirao and will be providing an update
on this in the coming weeks. Cancana will be in discussions with Rio Madeira
over the next week in order to attempt a conclusion of terms and conditions
needed for successful financing. We are encouraged that this will be a positive
exchange of thoughts after having spent considerable time with Rio Madeira
discussing all of these issues on the 26th of September." 


Cancana Resources Corp. is an exploration stage company that is transitioning
into production 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. 


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

Mr. Andrew Male, CEO & Director 

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. The information in
this news release may contain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. When used in this release, words such as "estimate",
"expect", "anticipate" and "believe" as well as similar expressions are intended
to identify forward-looking statements. Such statements are used to describe
management's future plans, objects, and goals for the Company and therefore
involve inherent risks and uncertainties. The reader is cautioned that actual
results, performance or achievements may be materially different from those
implied or expressed in such statements, which speak only as of the date, the
statements were made. The Company does not update forward-looking statements
continually as conditions change. We seek safe harbour.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cancana Resources Corp.
+1 403 269 2065
cancana.ir@cancanacorp.com
www.cancanacorp.com

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