Canaco Announces Voting Results from Annual Meeting

Canaco Resources Inc. (TSX VENTURE:CAN) ("Canaco" or the "Company") announces
voting results from its Annual and Special Meeting of Shareholders held today in
Vancouver, BC.


A total of 102.1 million common shares representing 51.1% of the Company's
issued and outstanding common shares were voted in connection with the meeting.
Shareholders voted in favour of all items of business, including election of
each director nominee by a substantial majority as follows:




Dr. Jingbin Wang 98.8%                                                      
Mr. Shuixing Fu 99.6%                                                       
Mr. Andrew Lee Smith 95.7%                                                  
Mr. David Parsons 98.5%                                                     



Shareholders voted 99.9% in favour of the re-appointment of auditors, and 97.2%
in favour of amendments to the Company's stock option plan. On the Advance
Notice By-law announced November 9, 2012, shareholders voted 95.9% in favour.


Canaco President and CEO Andrew Lee Smith said: "These results reflect a strong
level of shareholder turnout for Canaco, with more than 51% of the eligible
votes cast either in person or by proxy, indicating there is a solid level of
support for our Board and management and the strategic direction we are pursuing
with the Shark acquisition."


On December 17, 2012, Canaco announced it intends to acquire all of the
outstanding common shares of Shark Minerals Inc., a privately held, British
Columbia incorporated resource company engaged in the acquisition and
exploration of mineral properties in East Africa. Canaco shareholders will vote
on the transaction at a special meeting of shareholders expected to be held in
February 2013 (For details refer to Canaco's news release dated December 17,
2012, available on the Company's website at www.canaco.ca or at www.sedar.com). 


Additional information about Canaco including news releases, interim financial
statements and other public documents can be viewed at the Company's website
www.canaco.ca or at www.sedar.com.


About Canaco

Canaco is a Vancouver-based mineral exploration company focused on advanced
exploration projects in Africa. The Company has $90 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 news 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 timing, costs, and results of the 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. 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
604-488-0822 or 1-866-488-0822
604-899-1240 (FAX)
[e-mail]
www.canaco.ca