Vista VM cannot connect to printer shared from Win 7 VM - Error code 0x00000102

I'm running two OS's using Oracle VM Virtual Machine. One has Windows 7 Pro x64, the other Windows Vista Business x86. I have to try and connect a printer installed via USB and shared inside of the Windows 7 VM using Vista, and so far, I can get Vista to see the printer, see it's queue, but the moment I try and connect, it appears with the following error:

Windows cannot connect to the printer. Operation could not be completed (0x00000102).

Both VM's are connected via an Internal Network, and the IP settings are as follows:

Windows 7
IPv6 - Disabled (this is required)
IPv4:
- IP Address: 194.168.10.4
- Subnet mask: 255.255.255.0
- Gateway: blank
Workgroup name: WORKGROUP
Computer name: WIN7VM-CD

and

Windows Vista
IPv6 - Disabled (this is required)
IPv4:
- IP Address: 194.168.10.5
- Subnet mask: 255.255.255.0
- Gateway: blank
Workgroup name: WORKGROUP
Computer name: WINVISTAVM-CD

The printers details are:

Model name: Canon PIXMA iP1000
Share name: Canonprinter

I have entirely disabled the firewall on both VM's, to ensure it's not a conflict there. I have also locally installed the USB printer onto the Vista machine, to ensure that the driver existed and was installed. I have also ensured that both machines are using the same user account name and password, and that both machines have File and Printer sharing enabled, as well as Network Discovery, and that Password-protected sharing is disabled.

I have also tried connecting to it via "New Printer -> Local Printer -> New Port [Local Port] -> \WIN7VM-CD\Canonprinter", however it doesn't even have time (it seems) to check before it comes back as "Access Denied.", with no further message or error.

Answer found.

Follow this link and share the permissions and access to this directory. THIS IS IMPORTANT!

Once that's been done, try connecting by creating a new "Local" port (through the process listed in the question), and it should work! The "Access Denied." error should no longer appear.