|July 07, 2008|
Gold Exploration To Resume at New Alger
|Toronto, July 7, 2008 - Cadillac Ventures Inc. (CDEX-CNQ) ("Cadillac" or "the Company") is pleased to announce that drilling will be resuming on the Company's wholly owned New Alger property on the Cadillac Break outside of Val d'Or, Quebec. The property encompasses the historically productive Thomson-Cadillac Mine, where production ceased in 1939, rarely having penetrated 200 metres.|
The Company's 2008 exploration program is a follow-up to its Fall 2007 exploration program of 12 drillholes, each of which returned gold values testing both geophysical anomalies and the extension of mineralization at depth (200 - 400 m) and along strike from the adjacent O'Brien mine. A summary of the 2007 results appears below, and is best summarized in the Company's press release of May 7th, 2008.
The drill intercepts stated above are linear in nature, the true width of mineralization is not known at this time.
The initial stage of the 2008 program is planned to do further testing on both the geophysical anomaly previously drilled with hole NA 07-02 as well as test for mineralization at deeper depths.
In addition, the Company is pleased to announce that, subject to regulatory approval, the Company has retained BMK Partners Inc. ("BMK") of Vancouver, B.C. to provide corporate communications and marketing services on behalf of Cadillac.
BMK provides corporate communications services to public companies in North America and specializes in the development and management of customized marketing programs. Principals Lisa May and Bernie Kennedy bring over 20 years marketing and corporate communications experience to Cadillac.
BMK will provide general consulting and support services in connection with the analysis of equity markets, future equity financings, shareholder relations and the general 2 undertakings of the Company, as well as introducing the Company to financial intermediaries.
The agreement with BMK has a twelve month term and includes compensation of $5,500 per month and the grant of 200,000 incentive stock options, exercisable at a price of $0.57 per share for a period of up to five years, vesting 50,000 at issue, and 50,000 every three months from the date of issue. The agreement with BMK is subject to regulatory approval and all terms will be subject to and in accordance with the rules and regulations of CNQ.
Brian Newton, P.Geo, is the qualified person as defined by National Instrument 43-101 who has reviewed and approved the content of this press release on behalf of the Company.
Cadillac is an exploration company presently focused on the Company's Canadian projects, both located in areas with a history of production. Cadillac has completed one season of exploration drilling on the New Alger Project in Quebec, which is the site of the historically productive gold mine known as the Thomson-Cadillac Mine. The Company's 51% owned Burnt Hill Project in New Brunswick has a history of tungsten production and the Company has recently reported the presence of molybdenum on the project.
Cadillac is publicly traded on the CNQ under the symbol CDEX.
For more information regarding Cadillac please visit our website at www.cadillacventures.com, or call Norman Brewster, President at 416-815-8666.
Forward Looking Statements
This press release may include certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are in Canadian dollars unless otherwise noted.
The CNQ does not accept responsibility for the adequacy or accuracy of this release.