CAN Orca Gold, Inc.

Orca Gold Inc. ("Orca Gold" or the "Company") (formerly Canaco Resources Inc.
("Canaco") (TSX VENTURE:CAN)) is pleased to announce that it has acquired all of
the outstanding common shares of Shark Minerals Inc. ("Shark") in exchange for
the issuance of 118,584,735 of its common shares (the "Acquisition") pursuant to
the previously announced share purchase agreement between Canaco, Shark and the
shareholders of Shark dated December 14, 2012. In connection with the
Acquisition, Orca Gold completed a share consolidation (the "Consolidation") on
the basis of one (1) new share for three (3) existing shares resulting in issued
capital of 106,834,124. As of closing, Orca Gold is 63% owned by former Canaco
shareholders and 37% owned by former Shark shareholders. 


The Company will continue to trade on the TSX Venture Exchange ("the TSX-V")
under the ticker symbol "CAN.V" until Tuesday, April 9, 2013 when it will
commence trading under the ticker symbol "ORG.V".


Orca Gold is engaged in the acquisition and exploration of mineral properties in
Africa. Its initial focus is on three properties (Blocks 14, 67 and 68)
constituting a large land holding (20,020 square kilometres) in northern Sudan
near the border with Egypt that forms part of the Arabian-Nubian Shield. These
properties have had little, if any, modern exploration activity prior to their
acquisition by Shark (now Orca Gold) and are considered highly prospective with
artisanal miners throughout the area. Shark (now Orca Gold) has been exploring
Block 14 for the past 16 months and an initial drill program is underway.


Orca Gold is pleased to announce the addition of four new directors. Richard P.
Clark, Simon Jackson, Robert Chase and Alexander Davidson have joined Orca
Gold's board of directors and Richard P. Clark has assumed the role of Chairman.
Simon Jackson will serve as President and Chief Executive Officer, Alessandro
Bitelli will serve as Chief Financial Officer and Hugh Stuart will serve as Vice
President, Exploration. Messrs. Clark, Jackson, Bitelli and Stuart were all
previously officers and senior management of Red Back Mining Inc.


Immediately prior to completion of the Acquisition, Canaco completed its
previously announced spin out transaction, whereby Canaco, (a) transferred all
of its assets other than certain included assets and $60 million in cash, and
all of its liabilities, other than certain termination payments, the transaction
costs related to the Acquisition and certain agreements, to East Africa Metals
Inc. ("East Africa Metals"), a new company formed by Canaco which has applied to
be listed on the TSX-V, and (b) distributed all of the shares of East Africa
Metals to the shareholders of Canaco immediately prior to giving effect to the
Acquisition on the basis of one (1) East Africa Metals share for every three (3)
pre-Consolidation Canaco shares. East Africa Metals is managed by former Canaco
executives. 


This announcement is for informational purposes only and does not constitute an
offer to purchase, a solicitation of an offer to sell the shares or a
solicitation of a proxy.


Additional information about Orca Gold including press releases, interim
financial statements and other public documents will be able to be viewed at the
Company's website www.orcagold.com or at www.sedar.com.


On behalf of the Board of Directors:

Simon Jackson, 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 or statements that
certain events "may" or "will" occur. Forward-looking statements in this press
release include, but are not limited to, statements relating to the plans of the
Company following the Acquisition, including exploration activities.
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 timing, costs,
and results of a PEA; 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. Neither the
Company nor East Africa Metals undertakes any obligation to update
forward-looking information if circumstances or management's estimates,
assumptions or opinions should change, except as required by applicable law.
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: 
Orca Gold Inc.
Simon Jackson
President, CEO and Director
+1 604 689 7842
+1 604 689 5452 (FAX)

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