VenCan Announces Proposed Brokered and Non-Brokered Private Placement

    TORONTO, July 24 /CNW/ - VenCan Gold Corporation (VCG-TSXV) announces a
proposed brokered and non-brokered private placement financing of up to
$650,000 comprising a total of up to 13,000,000 common shares to be sold at
$0.05 per share and issued on a flow-through basis. No warrants are being
issued. All securities issued in conjunction with the offering are subject to
a hold period, which expires four months after closing.
    Proceeds of the financing will be used for exploration, property
acquisition and general working capital.
    VenCan Gold Corporation's current exploration focus is Ontario where it
has three properties - Abitibi West, Moffatt and Mt. Logano. VenCan Gold
maintains its website http://www.vencan.com with corporate information,
reports and images of its exploration projects.

    The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. This news release
may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and
conditions and therefore, involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements.

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For further information:

For further information: Brent Nykoliation, Director of Business
Development, Ph: (416) 364-4986, bnykoliation@macdonaldmines.com; Richard
Schler, Vice President & CFO, Ph: (416) 364-4986, rschler@macdonaldmines.com