Cadan Resources Corporation
TSX VENTURE : CNF

Cadan Resources Corporation

May 21, 2009 17:00 ET

Cadan Resources Corporation: Second Tranche of Non-Brokered Private Placement Completed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 21, 2009) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

CADAN RESOURCES CORPORATION (the "Company") (TSX VENTURE:CNF) is pleased to announce that it has closed the second and final tranche of its non-brokered private placement originally announced on February 12, 2009. The Company sold 3,556,667 common shares in the capital of the Company ("Shares") in the second tranche at a price of $0.06 per Share for gross proceeds of $213,400. The Company sold in both tranches a total of 15,635,982 Shares for gross proceeds of $938,159.

All securities issued pursuant to the second tranche bear a four month hold period expiring on September 22, 2009.

The gross proceeds from the private placement will be used to advance development of the T'Boli gold-silver deposit and detailed exploration of surrounding area, further drilling and leaching analysis of the Tagpura-Kalamatan porphyry copper-gold property and to provide the Company with additional working capital.

On behalf of the board of directors,

Brett Taylor, President & CEO

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the anticipated business and financing plans of the Company. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the market for gold or other minerals that may be produced generally, recent market volatility; variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company's page on SEDAR at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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