I have a Belle of Georgia peach tree and it's leaking sap. This will be the third season I've had it. It was probably 1-2 years old when I bought it. Last season it grew vigorously and had a good production for only it's second season in the ground. I prune it in Feb. and I have always thinned the fruit. It gets fertilized in the spring. I got busy and didn't water it as much over the winter after leaf drop. I haven't used any sprays.

I've linked pictures.
http://img836.imageshack.us/img836/6286/20130326124505.jpg
http://img62.imageshack.us/img62/5503/20130326124533.jpg

This is after scraping the bark away from under one of the "beads" of sap. It started as brown and gradually faded to this. It's not real deep.
http://img201.imageshack.us/img201/5223/20130326124616.jpg

The sap is only on the north facing side of the tree. I'm worried it's canker. My internet research has given conflicting information so, what is it and how do I treat it?

Thanks for your help