Entourage Metals Ltd. announced that Canada Gold Corp. has signed a binding Letter of Intent for an option to acquire up to a 75% interest in the Northern Arm Gold Property from Entourage, subject to the satisfaction of certain conditions including receipt by Canada Gold of approval from the TSX Venture Exchange. Through acquisitions and option agreements, Entourage recently consolidated the 155 square kilometer Northern Arm Gold Property, which was previously staked and owned by various other entities and groups. The Property straddles a 40 km long trend that has yet to be systematically explored in the Hemlo Greenstone Belt in northwestern Ontario. The Northern Arm Gold Property is approximately 10 kilometers north of Barrick Gold Corporation's Hemlo deposit, and is accessible from Route 614, which bisects the Property and connects to the Trans-Canada Highway and provides easy cost-effective access to the Property. The Hemlo gold deposit has produced over 20.3 million ounces of gold to date. Compared to other greenstone belts, the Hemlo belt area has remained relatively underexplored.

Canada Gold Corporation. intends to raise CAD 0.5 million in funding. The company plans to use the funds for due diligence on prospective acquisitions and for general working capital.

Canada Gold Corporation. has accepted the resignations of Mr. Hardy Forzley and Mr. Ian Klassen from the Board of Directors as they concentrate their efforts on other ventures.