Cadan Resources Corporation
TSX VENTURE : CNF

Cadan Resources Corporation

June 30, 2009 09:15 ET

38m @ 1.72% Copper at Cadan's Maangob Porphyry Copper-Gold Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 30, 2009) - CADAN RESOURCES CORPORATION (TSX VENTURE:CNF) ("Cadan" or the "Company") is pleased to announce high grade sections of: 38m at 1.72% copper ("true width") and, at 65m along strike, 30m at 0.98% copper ("true width") at the Maangob porphyry copper-gold deposit. The mineralized zone contains an historic resource of 39.6 M tonnes @ .36% copper, 0.5 g/t gold and 4 g/t silver (News Release, Thursday, February 26, 2009).

These high grade results are from sampling and mapping of some 850m of underground adits at Maangob porphyry copper-gold deposit and indicate a horizontal true width of mineralization of 105m at 0.52% copper. Assays for gold and silver are pending.

The photograph (to view plese click on: http://media3.marketwire.com/docs/cnf630.jpg) shows an example of chalcopyrite veining in massive magnetite skarn within the 38m @ 1.72% copper. The individual assay was: 1m @ 3.9% copper.

This higher grade material is a "skarn" within the Maangob porphyry/breccia mineralization. This Maangob skarn is identical to the Tagpura skarn, that has been defined by drilling and sits within the Tagpura open pit, and has the potential to provide additional feed for the postulated 2Mt per annum bacterial heap leach operation (News Releases, August 5, 2008, February 26, 2009 and March 3, 2009).

The 105m zone commences at 828000N, 847045E and extends to 828105N, 847055E. The 38m zone commences at 828034N, 844691E and extends to 828072N, 844691E. The 30m zone commences at 828065N, 844751E and extends to 828095N, 844754E.

The Company has completed 23 reverse circulation drill holes, for a total of 3,831 meters drilled within this mineralized zone. Down hole surveys of this drilling are completed. It is expected that the recent drilling, in combination with adit data and surface mapping, will allow accurate definition of the mineralized zone and preliminary internal resource analysis.

The channel sample intervals quoted above were assayed with Cadan's in house "XRF" unit which provides an efficient, cost effective approach to exploration, particularly in identifying broad mineralization and higher grade zones. All channel samples were crushed and pulverized and then split, with a 200 gram sub-sample analyzed by the XRF unit. All appropriate exploration quality assurance and control measures were applied to ensure integrity of sample and analysis. As this is a "XRF" analytical approach, the results should be lower than with traditional chemical analysis for the simple reason that the chemical analysis applies the FA 50/SAAS method (fire assay with atomic absorption finish) for gold, and conventional wet chemical methods for copper. Moreover, more than 10,000 XRF check determinations conducted by Cadan have shown close comparison with previous commercial assay laboratory copper assay results.

Therefore, it should be noted that all assay results used in resource calculations will be submitted to an approved commercial laboratory for chemical analysis using the FA 50/SAAS method (fire assay with atomic absorption finish) for gold, and conventional wet chemical methods for copper. At that stage, gold and silver assays will be completed and gold and silver credits are expected to increase the stated copper grades.

The Maangob mineralized zone contains an historic resource of 39.6 M tonnes @ .36% copper, 0.5 g/t gold and 4 g/t silver (Sabena Mining Corporation "table of ore reserves" Annual Report of 1980 - see News Release, Thursday, February 26, 2009). It should be noted that the foregoing historic resource was not prepared in accordance with CIM standards. Further, a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, the Company is not treating the historical estimate as current mineral resources or mineral reserves as defined in sections 1.2 and 1.3 of NI 43-101, and the historical estimate should not be relied upon. The foregoing historical resource is highly speculative and should only be considered as indicative of mineralization potential.

Qualified Person and Quality Control and Assurance

Technical aspects of this news release were prepared and verified by William Donald Goode, a member of the AusIMM and Technical Director of Cadan Resources. He is the qualified person as required by NI 43-101, and is the technical person responsible for this news release. The qualified person has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information and opinions contained in this news release.

All channel samples were crushed and pulverized and then split, with a 200 gram sub-sample analyzed by the XRF unit. All appropriate exploration quality assurance and control measures were applied to ensure integrity of sample and analysis. As this is a "XRF" analytical approach, the results should be lower than with traditional chemical analysis for the simple reason that the chemical analysis applies the FA 50/SAAS method (fire assay with atomic absorption finish) for gold, and conventional wet chemical methods for copper. Moreover, more than 10,000 XRF check determinations conducted by Cadan have shown close comparison with previous commercial assay laboratory copper assay results.

Therefore, it should be noted that all assay results used in resource calculations will be submitted to an approved commercial laboratory for chemical analysis using the FA 50/SAAS method (fire assay with atomic absorption finish) for gold, and conventional wet chemical methods for copper. At that stage, gold and silver assays will be completed and gold and silver credits are expected to increase the stated copper grades.

For further information relating to the historical resource and the geological setting of the Comval Project, readers are referred to SUR technical report, specifically, "Deposit Types Comprising the Sabena Project", page 9, that is published and available on www.sedar.com - News Release dated February 12, 2003. It is the opinion of the qualified person that all information in the report, as it relates to the Tagpura Kalamatan Maangob belt, is current.

On behalf of the board of directors,

Brett Taylor, President & CEO

Forward Looking Statements

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The reader is referred to the Company's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through www.cadanresources.com or the Company's page on SEDAR at: http://www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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