Shares of Canaco Resources leapt up on news that the company intersected 12.45 g/t Au over 37 m,including 19.4 g/t Au over 23 m, at its Handeni Gold project in Tanzania. MGZD066 was targeted on the northernmost section
drilled at the Magambazi prospect to determine if the very high-grade core, intersected in diamond drill holes MGZD001 (4.28
g/t Au over 59 m), MGZD012 (6.39 g/t Au over 56 m), MGZD035 (5.45 g/t Au over 16 m) and MGZD045 (6.79g/t over 22 m),
continued on the most northern section. The high-grade intercept (with a true width of approximately 30 m) confirms the
presence of a core of thick, high-grade gold mineralization as a component of Magambazi Main Lodes. The company now plans
to prioritize further drilling to test the northern extension of this high-grade core, between Magambazi and Magambazi
Central. President and CEO Andrew Lee Smith said, "Canaco's technical team considers these results highly significant. The
confirmation of continuity in structure and grade of a high-grade core and the recognition of the Magambazi Main Lodes and
Magambazi North as separate parallel zones of near-surface gold mineralization has a dramatic, positive impact on the overall
potential of the Handeni Project." The Magambazi and Magambazi North prospects are part of a 1.4-km long trend of gold
mineralization in the southernmost segment of the 11.0-km Handeni Gold Trend contained within its Handeni Gold Project. The
company notes that additional drill results from Magambazi and Magambazi North are pending and will be announced as soon
as possible.