Cadan Resources Corporation
TSX VENTURE : CNF

Cadan Resources Corporation

April 17, 2008 09:15 ET

Cadan Resources Corporation: Kalamatan Copper-Gold Porphyry Adit 6 East Drift 2

102m@ 0.35% Copper and 0.18 g/t Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 17, 2008) - Cadan Resources Corporation (TSX VENTURE:CNF) (the "Company") is pleased to announce the latest copper and gold assay results from the Adit 6 Drift East 2 tunnel of the Kalamatan copper gold porphyry deposit, shows further significant copper gold mineralization extending the known and demonstrated zone of mineralization a further 200 metres to the north east.

Adit 6 Drift East 2, 102m @ 0.35% Cu and 0.18 g/t Au

The Kalamatan copper gold porphyry deposit is located over a wide area with 500 metres of strike length, sample widths of about 150 metres and a vertical extent of some 200 metres. This latest result confirms the continuity of mineralization at depth.

At this stage in the exploration, the mineralized zone still appears to be open in all directions. Adit 6 Drift East 2 stopped in mineralization with the last six metres averaging 0.36% Cu and 0.14 g/t Au.

The following table includes the latest sample result and for more details see News Release dated January 29, 2008.



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Interval CuEq AuEq
Comment Metres fm Metres to (m) Au (g/t) Cu (%) (%) (g/t)
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ADIT-6 CROSS CUT NORTH-1
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0 62 62 0.10 0.3 0.34 0.92
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Includes 18 62 44 0.12 0.36 0.4 1.11
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Includes 34 62 28 0.15 0.4 0.45 1.25
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ADIT-6 DRIFT EAST-1
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62 156 94 0.13 0.35 0.4 1.1
---------------------------------------------------------------------------
Includes 62 140 78 0.14 0.38 0.43 1.18
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Includes 62 120 58 0.15 0.4 0.45 1.25
---------------------------------------------------------------------------
ADIT-6 CROSS CUT NORTH-2
---------------------------------------------------------------------------
0 140 140 0.16 0.28 0.34 0.93
---------------------------------------------------------------------------
0 64 64 0.15 0.3 0.35 0.97
---------------------------------------------------------------------------
110 138 28 0.20 0.36 0.43 1.19
---------------------------------------------------------------------------
ADIT-6 CROSS CUT NORTH-1
---------------------------------------------------------------------------
0 14 14 0.18 0.44 0.51 1.38
---------------------------------------------------------------------------
ADIT-6 DRIFT EAST-2
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0 166 166 0.15 0.27 0.32 0.90
---------------------------------------------------------------------------
Includes 64 166 102 0.18 0.35 0.42 1.14
---------------------------------------------------------------------------


DRILLING ON SCHEDULE

Cadan is pleased to advise that construction of the "farm-to-market" road, which also provides access for drilling, has been completed with the first series of drill pads now being finalized.

The first phase of RC drilling is now scheduled to commenced by the end of April with about eleven ("11") holes for some 2,000m as part of the initial resource estimation to confirm the historic resource of 18.6 Mt. @ 3.90% Copper.

STOCK OPTIONS

The Company also announces the cancellation of 500,000 options that were exercisable at a price of $0.15 until July 24, 2012. The options were cancelled by mutual agreement with the optionee. The Company also announces 500,000 options exercisable at a price of $0.15 until April 15, 2013 being granted to a consultant.

Qualified Person and Quality Control and Assurance

Technical aspects of this news release were prepared and verified by Ian S. 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.

Copper and gold equivalent calculations used metal prices of $US 3.00/lb ($US 6600/ton) for copper and $US 800/oz for gold. Current formulas used are CuEq equals Cu% + (Au g/t x 25.72347/66) and AuEq equals (Cu% x 66/25.72347) + Au g/t. Investors are cautioned that copper and gold equivalents used in this news release have been based on current market value of the particular commodity and no consideration has been made as to metallurgical factors which may or may not allow for profitable extraction of the metals.

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 release please click on the following link: http://media3.marketwire.com/docs/cnfphoto.pdf

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

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