Cancor Mines

As Cancor has expanded its exploration activities into Algeria we thought it appropriate to explain the reasons behind this decision.

Algeria has numerous regions rich in Gold and other precious and base metals. After the nationalization of the mining sector in 1966, mining exploration was conducted solely for research purposes and potential exploitation.

Throughout the last three decades, the prospecting effort conducted by the Algerian government contributed to the development of a basic geological infrastructure. Furthermore, the government explored a number of deposits.

Algeria has recently opened up its immense and largely untapped mining sector to foreign investment and activity. As a result, companies from countries such as China and Australia have been quick to move in and take advantage of this incredible opportunity. At the time of this writing Cancor is the only Canadian company who has successfully acquired properties and begun the process of mapping and sampling the areas.

In a market with stiff competition for the opportunity to explore for gold, Cancor was successful in acquiring the rights to explore 4 massive properties in southern Gold rich Algeria.

Two of Cancor’s sites are in close proximity to the Amessmessa Gold deposit which is being commercially exploited by GMA Resources Plc, an Australian Mining company listed on the AIM exchange in London. Measured and indicated resources of the Amessmessa gold deposit (in compliance with Australia’s official JORC classification) for veins 8 and 9 are 1,043,000 tons at 12.05 g/t Au.

Competitive Advantage

We are in a unique position to take advantage of the opportunities offered in Algeria because Cancor’s president, Mr Kamil Khobzi, is a native Algerian who has in-depth knowledge of the culture, language and government processes as well as a solid understanding of the geography and geological features of the country.

We believe that Mr Khobzi’s understanding of the above mentioned factors will give Cancor a strong competitive advantage and place Cancor in an excellent position to continue acquiring properties with outstanding potential which have until now been largely unavailable for exploration and development.

Cancor intends to continue exploring its Algerian properties while researching other areas in the country to explore and if commercially viable exploit valuable minerals. The opportunity to explore and exploit massive amounts of gold continues to be a real possibility and therefore we intend to continue pursuing the potential that Algeria has to offer.