Cadan Resources Corporation

Cadan Resources Corporation

January 09, 2008 09:15 ET

Cadan's Kapanawan Gold-Copper Skarn Discovery Channel Sampling Returns Gold Assays to 4.98 g/t

28 Metres @ 1.15 g/t Gold includes 10 Metres @ 2.02 g/t Gold (includes 2 Metres at 4.98 g/t Gold)

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 9, 2008) - CADAN RESOURCES CORPORATION (TSX VENTURE:CNF) (the "Company") is pleased to announce the gold assay results from its progressive sampling in the Kapanawan gold-copper skarn discovery.

Gold assays of up to 4.98 grams per tonne over two metres were contained in within 10 metres grading 2.02 grams per tonne. The entire 28 metres returned 1.15 grams per tonne.

Geological mapping has now identified skarn style magnetite-sulphide mineralisation located within a 500 metre long North-Westerly trending zone. The assays reported in this release are from cutting continuous channel samples from outcrop exposed in the sides of the Kapanawan creek which is located centrally to the identified zone.

The mineralisation at Cadan's Kapawanan gold - copper skarn prospect is an exciting discovery located centrally between the Tagpura copper gold porphyry deposit and the Kalamatan copper gold porphyry deposit, a distance of some five kilometers.

Cadan is at an early stage in the exploration of the Kapanawan prospect where a 60 metre wide zone of magnetite rich skarn was mapped, after visible gold was seen in panned stream sediment samples from the creek.

Further geological mapping and sampling has been conducted identifying skarn mineralisation to the south-east and north-west of the original discovery outcrop. Results of this current and ongoing sampling are pending. The attached photographs are typical of the magnetite skarn rock exposed in the Kapanawan Creek.

The following table summarises the latest sample results.

Metres Metres Interval Au Cu
Comment from to (m) (g/t) (ppm)
16 62 46 0.91 292
Includes 16 44 28 1.15 191
Includes 26 44 18 1.39 265
Includes 30 40 10 2.02 368
Includes 38 40 2 4.98 64

Qualified Person and Quality Control and Assurance

Technical aspects of this news release were prepared and verified by Ian Cooper, BSc, A.R.S.M, F.G.S, M.Aus.I.M, Exploration Manager Philippines who is the qualified person as required by National Instrument 43-101, and who 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.

Grade intersections have been calculated using the arithmetic mean of all samples within the intersection length with no values cut.

All sample preparation was undertaken by McPhar Geoservices (Phil) Inc at its General Santos facility in Southern Mindanao. McPhar is an ISO 9001 certified laboratory. Channel samples are pulverized and 200 gram sub samples are sent to McPhar Geoservices (Phil) Inc Manila laboratory. McPhar is an ISO 9001 certified laboratory. Analysis using the PM3 method (Fire Assay, Gravimetric (0.05 ppm) finish for gold and conventional wet chemical method (GA-1) for copper is carried out. The Laboratory mentioned in this paragraph provides independent analytical services to the company on normal commercial terms.

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

To view the photos accompanying this press release please click on the following link:

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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