CAN Orca Gold, Inc.

Canaco Resources Inc. (TSX VENTURE:CAN) ("Canaco" or the "Company") announces it
will hold its annual and special meeting (the "Meeting") of shareholders at
10:00am on December 21, 2012. The meeting will be held at the Company's office
at 3114-1055 Dunsmuir Street in Vancouver, BC. The Company has fixed November
20, 2012 as the record date for determining shareholders entitled to vote at the
meeting.


The Company also announces amendments to its by-laws to include an advance
notice policy (the "Policy") which requires advance notice to the Company in
circumstances where nominations of persons for election to the Board of
Directors are made by shareholders of the Company other than pursuant to: (i)
the requisition of a meeting, or (ii) a shareholder proposal, both made pursuant
to the provisions of the Canada Business Corporations Act (the "Act").


Among other things, the Policy fixes a deadline by which holders of record of
common shares of the Company must submit director nominations to the Company
prior to any annual or special meeting of shareholders and sets forth the
information that a shareholder must include in the notice to the Company. In the
case of an annual meeting of shareholders, notice to the Company must be
provided not less than 30 days prior to the date of the annual meeting.


In the case of a special meeting of shareholders (which is not also an annual
meeting), notice to the Company must be provided no later than the close of
business on the 15th day following the day on which the first public
announcement of the date of the special meeting was made.


For the Meeting, any notice delivered to the Company prior to the close of
business on November 21, 2012 shall be deemed to have been timely delivered.


The amended by-laws, which include the Policy, are effective as of the date they
were approved by the Board of Directors, being November 7, 2012. In accordance
with the Act, the amendments to the Company's by-laws are subject to
confirmation by shareholders at the Meeting. The amended by-laws, which contain
the full text of the Policy, are available under the Company's profile on SEDAR
at www.sedar.com.


About Canaco

Canaco is a Vancouver-based mineral exploration company focused on advanced
exploration projects in Africa. The Company has $91 million cash and no debt.
Canaco's shares trade on the TSX Venture Exchange under the symbol CAN.


On behalf of the Board of Directors:

Andrew Lee Smith, P.Geo., President, CEO and Director

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Generally, forward-looking
information can be identified by the use of forward-looking terminology such as
"anticipate", "believe", "plan", "expect", "intend", "estimate", "forecast",
"project", "budget", "schedule", "may", "will", "could", "might", "should" or
variations of such words or similar words or expressions. Forward-looking
information is based on reasonable assumptions that have been made by the
Company as at the date of such information and is subject to known and unknown
risks, uncertainties and other factors that may cause the actual results, level
of activity, performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking information,
including but not limited to: risks associated with mineral exploration and
development; metal and mineral prices; availability of capital; accuracy of the
Company's projections and estimates; interest and exchange rates; competition;
stock price fluctuations; availability of drilling equipment and access; actual
results of current exploration activities; government regulation; political or
economic developments; environmental risks; insurance risks; capital
expenditures; operating or technical difficulties in connection with development
activities; personnel relations; the speculative nature of strategic metal
exploration and development including the risks of diminishing quantities of
grades of reserves; contests over title to properties; and changes in project
parameters as plans continue to be refined. Forward-looking statements are based
on assumptions management believes to be reasonable, including but not limited
to the price of gold; the demand for gold; the ability to carry on exploration
and development activities; the timely receipt of any required approvals; the
ability to obtain qualified personnel, equipment and services in a timely and
cost-efficient manner; the ability to operate in a safe, efficient and effective
manner; the expected burn rate; the regulatory framework regarding environmental
matters, and such other assumptions and factors as set out herein. Although the
Company has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking information contained
herein, except in accordance with applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canaco Resources Inc.
Meghan Brown
Director Investor Relations
604-488-2557 or 1-866-488-0822
investors@canaco.ca
www.canaco.ca

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