Douglas Lake Minerals Inc DLKM

Canaco Preliminary Economic Assessment

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August 19, 2011 Canaco Announces Preliminary Economic Assessment Program for Magambazi and Appoints Sean Waller to Advisory Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 19, 2011) -Canaco Resources Inc. (TSX VENTURE:CAN) ("Canaco" or the "Company") is pleased to announce details of a $5 million Preliminary Economic Assessment ("PEA") program at Magambazi planned for completion by the end of June 2012. The Company also announces the appointment of Sean Waller to its Advisory Board. ** PEA Program The Company's 2011/12 exploration and development budget includes plans for engineering work that will lead to the completion of a PEA by the end of June 2012. The PEA will include design and field work, metallurgical testing, geotechnical assessment, mill flow-sheet design, economic analysis, preliminary mine plan and operations layout, and preliminary production schedule. Canaco is currently in the process of selecting an engineering consulting firm to initiate the Magambazi PEA. A schedule to establish parameters for a pre-feasibility/feasibility program will follow. *** https://canaco.mwnewsroom.com/press-releases/canaco-announces-preliminary-economic-assessment-p-tsx-venture-can-201108190721620001 Way to go Canaco