Cadan Resources Corporation

Cadan Resources Corporation

November 08, 2007 09:15 ET

New Director and President Appointed to Cadan Affiliate Company

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2007) - CADAN RESOURCES CORPORATION (TSX VENTURE:CNF) (the "Company") is pleased to advise that Philippine registered company TMC Tribal Mining Corporation Inc, an affiliate company of Cadan, has announced the appointment of Mr. Edgar D Martinez as its President and Director.

TMC Tribal Mining Corporation holds 100% of the T'Boli Gold-Silver project which has a CIM/JORC Inferred Mineral Resource of 420,000 ounces of gold and 1,600,000 ounces of silver - (2,400,000mt @ 5.5 Au gpt and 21 Ag gpt).

Mr. Martinez is a Graduate of the Cebu Institute of Technology with a Bachelor of Science in Mining Engineering. He has more than 30 years' experience in mining and mineral exploration throughout the Philippines covering gold, silver and base metals. Mr. Martinez also has experience in government laws, rules and regulations, community and indigenous affairs in the Philippines.

Mr. Edgar Martinez is a Member of the Mindanao Association of Mining Engineers and is the President of the Mindanao Association of Mineral Industries Inc. He is a Mining Industry Advisor to the Office of the Presidential Assistant on the Peace Process and the Mindanao Economic Development Council; Large Scale Mining Representative, Provincial Mining Regulatory Board (PMRB) COMVAL Province; Chairman, Mining Cluster, Economic Development Council RXI; and Representative Mining Sector MinBC ("Mindanao Business Council") Technical Working Group.

Mr. Martinez will lead TMC Tribal Mining Corporation as the company implements its strategy to undertake further detailed underground exploration and development of the T'Boli Gold-Silver project.

Cadan President and CEO, Mr. Brett Taylor said that the Company is delighted to welcome Mr. Martinez as President and Director of TMC Tribal Mining Corporation and is confident that Mr. Martinez's extensive experience in all aspects of mineral exploration and development in the Philippines, and specifically in Mindanao, will be a valuable asset to the Company as it moves forward on the progressive development and production of the T'Boli Gold Silver Deposit.

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

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

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