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Cadan Resources Corporation Provides T'Boli Mine Update

Cadan Resources Corporation (CXD.V) today provided an update on the T'Boli underground gold mine in the Philippines.

Over the last two years the Company has refurbished the Beehive underground workings through the 'Mofoko' portal, which has enabled the Company to expose access to known mineralized gold structures. Generally the time and capital cost it would have otherwise taken to develop these structures for production underground stoping would have been significant. However, the Company has already absorbed this cost as part of the necessary exploration program while waiting for government approvals to commence mining.

Cadan also announced that the DECLARATION OF MINING PROJECT FEASIBILITY (DMPF) was received on the Oct 10 2012, which allows the T'Boli gold and silver mine to be ramped up to full planned commercial production.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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