Cadan Resources Corporation

Cadan Resources Corporation

October 23, 2009 13:35 ET

Cadan Resources Corporation: Share Consolidation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 23, 2009) - CADAN RESOURCES CORPORATION (TSX VENTURE:CNF) (the "Company") announces that shareholders of the Company approved the consolidation of all of the issued and outstanding common shares in the capital of the Company on a five old for one new basis (the "Consolidation") at the general meeting of its shareholders held on October 21, 2009 (the "Meeting"). A total of 62 shareholders holding 42,086,890 common shares voted at the Meeting with 38,680,020 shares (92.7%) voted in favour of the Consolidation and 3,030,370 shares (7.3%) voted against the Consolidation.

The Consolidation is subject to TSX Venture Exchange acceptance.

Cadan Resources Corporation is a junior exploration company with operations in the Philippines and Colombia and trades on the TSX Venture Exchange (Canada) with trading symbol CNF-V.

On behalf of the board of directors,

Brett Taylor, President & CEO

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the TSX Venture Exchange acceptance of the Consolidation. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the market for gold or other minerals that may be produced generally, recent market volatility; variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. 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 the Company's page on SEDAR at

Neither 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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