Cadillac Ventures Inc.
CNQ : CDEX

Cadillac Ventures Inc.

January 03, 2008 15:32 ET

Cadillac Ventures Announces Flow-Through Financing and Project Updates

TORONTO, ONTARIO--(Marketwire - Jan. 3, 2008) - Cadillac Ventures Inc. (CNQ:CDEX) ("Cadillac") is pleased to announce that the Company raised a total of $540,400 in flow through funds, as announced in the press release of November 27th, 2007, through the non-brokered private placement of 675,500 shares at a price of $0.80 per share. Each share issued as a result of the financing is restricted from trading until May 1st, 2008. The proceeds of this private placement will be used to fund further exploration.

Project Updates

The Company is pleased with the results of the Fall 2007 exploration season at both the wholly owned New Alger project and the Burnt Hill joint venture with Noront Resources.

At New Alger during the fall season the Company completed 3900m of drilling, from which 575 samples were selected and sent for processing. The Company is still awaiting the results.

At Burnt Hill the Company completed 2837m of drilling, with 2818 samples sent for processing. These samples included 64 grab samples selected during the Company's surface mapping of the main Burnt Hill block of the property and 194 samples selected from the historic 1979 core to test historically reported results. The Company is also awaiting the results from the processing of these samples.

Once these results are received the Company will then plan the spring 2008 campaigns at both properties.

About Cadillac

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.

Forward Looking Statements

This press release may include certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. 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". All dollar amounts are in Canadian dollars unless otherwise noted.

The CNQ does not accept responsibility for the adequacy or accuracy of this release.

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