Cancana Outlines Comprehensive 2015 Exploration and Development Program for the BMC Joint Venture

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 20, 2015) - Cancana Resources Corp. (TSX VENTURE:CNY) (the "Company" or "Cancana") provided today an update on exploration and development programs at the BMC Joint Venture Project in Rondônia, northwest Brazil.

BMC has consolidated its land package, with recent agreements to take the project area to 104,536 ha in area¹. Significant advances were made during 2014 to evaluate this portfolio, and field activities have recommenced for 2015.

Anthony Julien, Cancana's CEO and President, said, "2014 was a busy and decisive year for Cancana. We finalized the investment and corporate participation of Ferrometals that enabled us to increase our exploration activities and to attain a detailed understanding of the scope of the Project. We are now in a position to accelerate our work on the Project. In 2015 we will be undertaking a broad array of exploration initiatives including the first ever drill program on the Project. We will also be expanding our existing first phase pilot production. As we expand this production, we will gain insight that will enable us to develop an economic model for an expanded steady state production of the existing inferred boulder resource and operations. Our ultimate goal is to establish significant new high grade manganese resources that can be developed to supply the Brazilian agricultural market."

A project-wide rock chip-sampling program has confirmed the high-tenor character of manganese mineralisation in the colluvial showings (Figure 1, also located at www.cancanacorp.com). An average grade of 54.2% Mn was returned from the 83 results from rock chip samples reported to date². An auger and pitting program has commenced to improve definition of the colluvial resources and assist in mine scheduling. Ten new colluvial showings were identified during the mapping programs and will be progressively evaluated for their potential to add to the resource inventory³. The high tenor character of the regional rock-chip samples is consistent with recently reported production grades⁴. The results support the Company's immediate objectives of marketing a product that occupies a particularly high-grade niche amongst manganese producers.