Cancor Mines Inc. provided updates on gold exploration activities in Algeria. Due to the current exceptional circumstances in the Sahel, and especially in northern Mali, Cancor Mines Inc. has been forced to temporarily suspend work on all projects related to its licences in the Hoggar region of Algeria. As these circumstances are beyond the company's control and constitute a case of force majeure, the company has notified the supervisory authorities in Algeria to this effect. Force majeure is specifically recognized under the terms of the licenses held by the company and provide for the automatic extension of the licences for a period corresponding to the duration of the circumstances constituting force majeure.

Cancor Mines Inc. provided an update on its gold exploration activities in Algeria. At the present time Cancor has completed al the preparations required for carrying out its exploration program in Algeria and is waiting only for authorization from local authorities to set up its campsites and begin operations. As a result of the situation in Northern Mali, movement is currently monitored in the southern portion of the country and al exploration companies are required to obtain authorization from local authorities to set up an exploration camp. The initial core drilling program will consist of 5,000 meters. Around twenty gold targets have been identified for the first phase of the program which will take place on the North Tirek property. For the second phase of the program the drill rig will be moved to the In Ouzzal North site for an additional 2,000 meters of drilling. The North Tirek licence covers an area of 15,499 hectares (16 km). The perimeter of Tirek North is on the eastern edge of the In Ouzzal mole, which consists of a band of mylonites between 300 and 3,000 metres thick corresponding to a major tectonic deformation rift. This tectonic zone controls the emplacement of numerous vein-type gold showings, including the two gold deposits at Tirek and Ames mesa, located 17 and 70 km south of the southern boundary of the licence, respectively. The Ames mesa deposit is currently in production. The gold-bearing veins are grouped together into several vein-type gold fields within the boundaries of the Tirek North licence. From south to north, these are the Kheima showing, the gold fields known as Zone 12, Zone 13, and Zone 17, the Syenite showing, the Kiouene gold field and gold field Number Three. The Kiouene gold field in particular appears to offer considerable promise as being capable of supporting a viable open-pit operation. The field is large, with dimensions of 7 km by 2 km, and contains an extensive network of outcropping known veins with high grade gold mineralization which have been the focus of historical trenching and sampling. The results to date are very encouraging. Excellent gold grades are present in many samples. Additionally, several visible gold grains were observed between the lode zones on small outcrops. The presence of visible gold in these areas suggests that gold mineralization may be much more extensive than previously understood.

Cancor Mines Inc. announced unaudited conoslidated financial results for the second quarter and six months ended Sept. 30, 2012. For the quarter, the company reported loss and comprehensive loss of $105,637 compared to a loss and comprehensive loss of $307,349 in the previous year. This represents a net loss per share, basic and diluted, of $0.01. Interest income was $10,094 for the quarter is interest earned on term deposits. Loss and comprehensive loss before income taxes was $145,637 against $366,349 for the same period of last year. For the six months, the company reported loss and comprehensive loss of $170,098 compared to a loss and comprehensive loss of $295,612 in the previous year. This represents a net loss per share, basic and diluted, of $0.01. Interest income was $15,421. Loss and comprehensive loss before income taxes was $210,098 against $454,612 for the same period of last year. Net cash used in operating activities Additions to mining properties and exploration and evaluation assets was $357,806 against $352,474 for the same period of last year.