Cadillac Ventures Inc.

Cadillac Ventures Inc.

June 11, 2007 11:35 ET

Cadillac Ventures Inc. Burnt Hill Project Update

TORONTO, ONTARIO--(Marketwire - June 11, 2007) -


Cadillac Ventures Inc. (the "Company")(CNQ:CDEX) is pleased to announce that the Company and Noront Resources Inc. ("Noront") have agreed to amend the option agreement on the Burnt Hill Project, located approximately 60 kms. north of Fredericton, New Brunswick. Under the terms of this amendment Noront will immediately commence a $1,500,000 exploration program on the Burnt Hill claim group. The Company will, prior to Dec. 31st, 2007, issue to Noront $1,500,000 worth of common stock in the Company at a price of not more than $1.00 per share, or whatever price the Company completes a subsequent financing. Cadillac will remain the operator of the program during this time.

The Company envisages that the immediate program at Burnt Hill will consist of confirmatory and exploration drilling on the previously productive Burnt Hill occurrence, and the previously explored Tin Hill, McLean Brook and Todd Mountain claims. The Company would like to, in this program, produce an NI 43-101 compliant resource estimate on the historically productive, and pilot plant tested in the 1980's to the point of pre-feasibility, Burnt Hill tungsten occurrence. It is the opinion of management that the current commodities market and world-wide demand for tungsten will justify bringing Burnt Hill into production. Additionally the Company would like to quantify the potential of the other claim groups which encompass showings and geochemical anomalies, as well as determine the factual basis of the anecdotal reports of molybdenum, tin and bismuth occurrences on the property, in a NI 43-101 compliant manner. Management has been told that all of these elements occur, but as the historic interest was never in a resource other than the readily accessible tungsten on Burnt Hill there was no scientific examination of these occurrences.

About Cadillac Ventures Inc.

Cadillac Ventures Inc. holds the historically productive New Alger project located in the Cadillac Break mining camp in the Province of Quebec. The Company intends to pursue an exploration and drilling program on this property in order to produce a National Policy 43-101 compliant resource estimate in 2007. Additionally the Company has assumed a joint venture with Noront Resources Inc. on the Burnt Hill Project. This tungsten project consists of four separate identified areas of interest, and also has molybdenum and tin present in historical drill assays. This project was last active in the early 1980's, at which time a pilot plant was running in a pre-feasibility program on the Burnt Hill claim, operations ceased due to the sharp decline in the price of tungsten at that time. The Company feels positive that due to the current value of tungsten and the other associated metals this project group will add value for shareholders. With this in mind the Company intends to move forward with the evaluation of historic information, a surveying program, and ultimately a drill program designed to both prove historical drill results and test exploration targets.

Cadillac Ventures Inc. is traded on the CNQ under the symbol CDEX. AS of June 7th, 2007 Cadillac has 23,101,489 shares issued and outstanding.

This press release, required by applicable Canadian securities law, is not for distribution to U.S. news services or for dissemination in the United States, and does not constitute an offer of the securities described herein. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.

This press release includes 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 Canadian dollars unless otherwise noted.

Contact Information

  • Cadillac Ventures Inc.
    Jim Voisin
    (519) 699-5352