|March 25, 2008|
Burnt Hill Project Update
|Toronto, Ontario - March 25th, 2008 - Cadillac Ventures Inc. (CDEX-CNQ) ("Cadillac") is pleased to announce the following results from the Burnt Hill Joint Venture with Noront Resources Ltd.|
In the fall of 2007, Cadillac as operator managed an all encompassing program on the Burnt Hill Project, which expended $1,500,000 on a number of initiatives, under the onsite supervision of James G. Burns, P.Eng. Included in this expenditure was a detailed geological mapping program in the vicinity of the former Burnt Hill mine, which identified several previously unknown surface outcroppings of mineralization and structural trends on the property. A total of 139 rock samples were taken for analysis. Also undertaken in the fall of 2007 was a comprehensive compilation of data from all identified, accessible sources regarding the property, including government, assessment and private sources. The Burnt Hill Project was increased from 53 claims in 3 different blocks, to a total of 652 claims in one block. In addition to the staking of these claims, comprehensive linecutting was carried out on the historic Burnt Hill project area. The historic core stored in a government facility was re-examined, and portions of 5 holes drilled in 1979 were relogged, with 314 samples taken. The current drill program encompasses a total of 23 holes, of which 9 were completed in this program phase, in conjunction with the work detailed above. A total of 2837m were drilled, all of which were sampled, for a total of 2669 samples submitted to Activation Laboratories Ltd. (Actlabs) in Fredericton, New Brunswick for multi-element analysis. This program was designed with two main targets;
Details of the drill programs, and the results of the drill program, are discussed in the 43-101 report authored for Cadillac, which should be available and filed on SEDAR shortly.
In summary this drill program;
Cadillac will be issuing to Noront Resources Inc. 1,875,000 shares of Cadillac in order to earn a 51% per cent interest in the Burnt Hill project, pursuant to the joint venture agreement as amended and previously announced. Cadillac has the option to earn a further 14% interest in Burnt Hill through the payment to Noront of $500,000 in either cash or common shares, as determined by Cadillac. The shares issued to Noront shall be subject to a 4 month hold.
It is the intention of management to further develop the Burnt Hill project by drilling the remaining planned holes in the summer 2008 exploration season. This program, once completed, will allow the Company to complete a Resource Estimate on Burnt Hill.
James G. Burns P.Eng, a consultant to Cadillac and a "qualified person" as such term is defined under National Instrument 43-101, has reviewed and verified the technical information contained in this press release and has approved the contents of this press release.
Cadillac is publicly traded on the CNQ under the symbol CDEX. Currently, in addition to the joint venture on the Burnt Hill Project, Cadillac also holds the New Alger Project which encompasses the historic New Alger Mine, located in the highly prospective Cadillac Break Mining Camp. The New Alger Mine has been sporadically productive but has not been fully explored or exploited. The property is situated contiguous to the O'Brien Mine and approximately 300 m to the SE of the LaRonde Mine.
For more information regarding Cadillac please visit our website at www.cadillacventures.com
Or call Norm Brewster, President at (416)815-8666
Forward Looking Statements
This press release may include certain "Forward-Looking Statements" within the meaning of the applicable securities legislation. 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".
The CNQ does not accept responsibility for the adequacy or accuracy of this release.