Cancor raises $ 716,695 pursuant to its rights offering

    Symbol: KCR-TSX

    MONTREAL, Aug. 1 /CNW Telbec/ - Cancor Mines Inc. is pleased to announce
that its rights offering generated gross proceeds of $ 716,695. An aggregate
of 5,119,251 common shares have been issued under the offering at a
subscription price of $0.14 per share. Net proceeds of the offering will be
used to provide general working capital.

    Cancor Mines Inc. is a Canadian mining company engaged in the exploration
and development of properties with gold and base metal potential.

    All recent Cancor Mines press releases are available on the Company's

    Caution concerning forward-looking statements

    This press release contains certain "forward-looking statements",
including, but not limited to, the statement regarding exploration work and
the emphasis on looking for a certain type of deposit. Forward-looking
statements involve a number of risks and uncertainties. There can be no
assurance that such statements will prove to be accurate. Actual results and
future events could differ materially from those anticipated in such
statements. Risks and uncertainties that could cause results or future events
to differ materially from current expectations expressed or implied by the
forward-looking statements include, among other things, those set forth in
Cancor's 2008 Annual Information Form, a copy of which can be obtained on the
SEDAR website at

For further information:

For further information: Mr. Khobzi, President, (514) 849-3013

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