TORONTO, ONTARIO--(CCNMatthews - June 26, 2007) -The Property

VenCan Gold Corporation (TSX VENTURE:VCG) is pleased to announce that it has purchased a major land package (372 claim units totalling 5,952 hectares) located west of Timmins in Dore, Heenan, Swayze, Denyes and Marion townships. VenCan will acquire a 100% undivided right, title and interest in and to the property by making the following payments to Don McKinnon: issuance of 3,000,000 common shares and 1,500,000 warrants exercisable at $0.50 per share for a period of 24 months from date of issuance and the transfer of 200,000 Patricia Mining Corp. shares currently owned and held by VenCan Gold. VenCan will acquire the "Property" rights free and clear of all Encumbrances, subject only to the NSR Royalty of 3% for gold and 2% for base metals. In connection with this acquisition the company will pay KAR Geological Inc. a finders and consulting fee of 300,000 common shares.

All securities issued in connection with this transaction will be subject to a four month hold period.

The property package has been acquired from famed prospector Don McKinnon, well known for his role in the discovery of the lucrative Hemlo Gold Mines. McKinnon has held the claim groups for three years and with this signed agreement, VenCan will explore the claims for their gold and base metal potential. In addition, the company utilizing its consultant, KAR Geological Inc., has staked an additional 228 claim units resulting in a total land package of 600 claim units (9,600 hectares).

Don McKinnon

Don McKinnon, co-discoverer of the rich Hemlo Gold Mines and recipient of the Order of Canada for his prospecting skills states, "This area hasn't had a thorough investigation and given the property's geological similarities to the Porcupine and Kirkland Lake gold camps, it certainly deserves further exploration."

Geology

The properties are located within the Swayze greenstone belt, which represents the western extension of the prolific Abitibi greenstone belt (same age, different volcanic constructs). The Swayze greenstone belt is connected to the eastern Abitibi by two bands of strongly deformed supracrustal rocks. The northern band is considered to mark the western extension of the Porcupine-Destor Deformation Zone, which is the major structure associated with gold deposits in the Porcupine Gold Camp around Timmins. The southern band marks the western extension of the Larder Lake Deformation Zone, a major structure related to gold deposits extending right across the southern Abitibi from the southern Swayze, then Matachewan, Kirkland Lake and through to Val d'Or. The Don McKinnon property is situated in the area where these two key regional structures may converge.

The property also features basinal structures which developed as a result of movement and fracturing along splays of these major deformation zones. There are late Archean alkaline quartz-feldspar and feldspar porphyry sills, as well as conglomeratic units that were deposited in the basins. Of prime importance, these basins are of Timiskaming age and appear similar to units that are spatially associated with gold deposits in both the Porcupine and Kirkland Lake gold camps.

Brian Atkinson, P.Geo.

Brian Atkinson, Regional Resident Geologist (Timmins Region, Ontario Geological Survey) commented, "The rocks and geology of the south central part of the Swayze greenstone belt have similar characteristics to the setting of the large and prolific gold deposits in the Timmins and Kirkland Lake area. The presence of known gold occurrences, favourable structural and alteration features and Timiskaming sediments in the Swayze make this area a prime exploration target for large gold deposits."

Hadyn Butler, P.Geo.

"Using regional magnetic survey data recently released by the Ontario Geological Survey, the properties appear to lie near a complex junction of the southern Larder Lake Deformation Zone and a deformation zone striking northeast that links the area to the Porcupine-Destor Deformation Zone along the northwest margin of the Kenogamissi Batholith. The presence of Timiskaming-type sequences, late alkalic stocks and known gold mineralization confirms geological activity appropriate in age to the main mesothermal gold event of the Abitibi greenstone belt."

Exploration Focus

Randall Salo, P.Geo will head up the exploration program for VenCan. The program will follow a four phase exploration initiative. Exploration will focus on Timiskaming age rock units associated with fault and shear zones in search of vein, breccia and sediment hosted gold. Syenitic rocks will also be explored as many of the gold ore bodies in the Kirkland Lake area are related to syenite plugs and trachytic flows associated with Timiskaming-type sedimentary rocks. Syenite plugs in the Kirkland Lake area also host copper in economic concentrations in addition to significant gold values (Queenston; Upper Beaver property).

Exploration Program

Phase 1

The initial exploration work on the property will consist of an aggressive prospecting program focussing on anomalous areas as defined by Ontario government geophysical, geological and regional geochemical surveys. The program will also identify the extent of outcrop exposure on the property. Phase 1 began on June 21st and is expected to take 30 days to complete at a cost of approximately $200,000.

Phase 2

The second phase of exploration will follow up anomalous rock samples with geological mapping, trenching, channel sampling and blasting. As the prospecting program proceeds, sample results will be available on an ongoing basis and Phase 2 can be initiated at any time based on positive results. VenCan has immediate access to heavy equipment and trained personnel to complete this work in an efficient manner.

Phase 3 - Geophysical Surveys

Anomalous areas that merit subsurface investigation will be surveyed using geophysical techniques in order to aid in designing a diamond drill program to test the subsurface environment.

Phase 4 - Diamond Drilling

A diamond drilling program will be designed and implemented based on results of all previous exploration. It is anticipated that the first phase of diamond drilling would consist of approximately 2,000 meters.

Current Activities

VenCan has assembled an experienced prospecting team to carry out Phase 1. Trenching and diamond drilling equipment has been made available from McKinnon Prospecting and Whissel Drilling of Timmins, and Expedition Helicopters of Cochrane is currently readying accommodations and communications in the property area.

VenCan has recently completed systematic claim staking adjacent to the Don McKinnon property. The incremental land acquisition was based on favourable geology ascertained through the compilation of available geological and geophysical data. VenCan now has 100% ownership of a land package totalling approximately 9,600 hectares. KAR Geological Inc. identified and managed the acquisition of the staked claims.

Concluding Remarks

VenCan Gold is very pleased to have made this important acquisition from such a highly successful prospector as Don McKinnon. This land package and the subsequent properties staked by VenCan will provide the company with a highly prospective land package centered in the right geological environment as noted by the property's geological description and the geologist's comments in this press release.

Randall Salo (P.Geo.) is the qualified person for the technical information contained in this press release.

WARNING: The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.