Cadillac Ventures Inc.
TSX VENTURE : CDC

Cadillac Ventures Inc.

May 04, 2011 12:32 ET

Cadillac Provides Balance of Eastern Assay Results

TORONTO, ONTARIO--(Marketwire - May 4, 2011) -Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") is pleased to report on the balance of assays obtained from drilling to extend the eastern strike of its Thierry Mine project, with the result that the mineralization remains open. This announcement is in addition to the press release of March 17th 2011 stating that the mineralization was extended and open on the western strike of the deposit, and the press release of April 5th 2011 with results of the other eastern drillholes. Cadillac has now successfully extended the known deposit along strike in both directions, and both directions remain open.

Norman Brewster P.Geo, President and CEO of Cadillac commented "We are pleased with the positive results we continue to receive from this project. The recently completed Exploration Plan Update, which identified additional potential tonnes resultant from the first 3 deep drillholes at Thierry, did not contemplate the impact of the significant success we have had extending the mineralization to the east of the known deposit."

Drillholes CV 11-14, CV 11-15 and CV 11-16 successfully intersected copper mineralization to the east, with the assays presented below. These holes were drilled in February 2011 as part of the 2011 shallow drilling program and were targeted to extend the mineralization to the east. Drillhole CV-11-14 overcut drillhole CV-11-13 which was previously press released as intersecting mineralization. Drillhole CV-11-15 is the furthest east, as depicted in the photo below. Drillhole CV-11-16 was designed to overcut mineralization intersected in the previously press released drillhole CV-11-12. Each of the holes drilled encountered mineralization, the results of which will be incorporated into an updated 43-101 report planned for Summer 2011, after the conclusion of the ongoing deep drilling program at Thierry. The results for these holes are generally of a lower grade than other results obtained to date, however, Cadillac is still pleased with these results as these were pure exploration holes which have successfully extended the mineralization and now require follow up.

Assay Result Highlights
HoleFrom (ft)To (ft)Length (ft)Cu %
CV 11-14563575120.29
CV 11-15625631.506.50.59
Including629631.52.50.81
CV 11-16557570130.63
Including565.55704.50.81

Samples were selected in the field and bagged and tagged under the supervision of Brian H. Newton P.Geo, and couriered by bonded carrier to the facilities of Activation Laboratories in Thunder Bay Ontario where they were prepped and assayed using Fire Assay ICPOES.

To view Figure 1, please visit the following link:

http://media3.marketwire.com/docs/tbaysamples.pdf

The fifth deep hole, drilled in to the "tooth" area of the modeled deposit, has been completed. Assay results are pending, the mineralized zone was encountered at depth as expected. Drilling of the sixth and final deep hole has commenced.

Mr. Brian H. Newton P.Geo, of Billiken Management Services Inc. and a "qualified person" pursuant to NI 43-101 has reviewed and approved the technical information in this press release on behalf of the Company.

About Cadillac

Cadillac's Thierry Mine project has a measured and indicated mineral resource of 6.2 million tonnes at a grade of 1.92% Cu, and an additional inferred mineral resource of 8.2 million tonnes at a grade of 1.79% Cu (see the Company's 43-101 compliant report entitled "Technical Report and Updated Resource Estimate on the Thierry CU-NI-PGE Mine Property, Pickle Lake Area, Patricia Mining District, North-Western Ontario, Canada" dated July 2010 and filed on Sedar). In addition the resource includes Nickel, Silver, Gold, Platinum and Palladium. The Thierry Mine is located in Northwestern Ontario, is wholly owned by Cadillac, and was last in operation under UMEX in the early 1980s, leaving significant underground development in place. Since re-acquiring the Thierry Mine project, Cadillac has been focusing on adding to the resource in the immediate area of the mine by drilling a gap in the NI 43-101 deposit model referred to as the tooth, which management has internally calculated contains six million tonnes of material. Presently the final of six planned holes is underway. The holes to date have successfully intersected mineralization of a grade and width that supported management's assumption regarding the continuation of the model at depth through the tooth. In addition, drilling along strike to both the east and the west has intersected mineralization outside of the NI 43-101 model. Cadillac's property position at Thierry is large and hosts other exploration targets, including the K1-1 deposit, known from historical drill records which are not NI 43-101 compliant, to be a large, low grade and shallow occurrence approximately three km to the east of the old Thierry Mine shaft, which also had within it higher grade intersections. Cadillac is currently investigating this deposit with several initial drill holes.

International exploration potential is also held by Cadillac, a joint venture partner with Minas de Aguas Tenidas, S.A.U. ("MATSA") regarding the exploration of 12 different investigation licenses encompassing over 230 square kilometers surrounding the Aguas Tenidas Mine held by MATSA (a wholly owned subsidiary of Iberian Minerals Corp.) in the Iberian Pyrite Belt of southern Spain. Each of these licenses hosts visible mineralization and/or evidence of historical mining activities. In order to earn a 90% interest in the entire license package Cadillac has embarked on a survey drill program over several of these licenses which is nearing completion augmented by geophysics. The information produced by this program has been assembled and is guiding management in prioritizing these properties for individual definition campaigns.

The three other projects held by Cadillac consist of: (i) the Burnt Hill Project, a 51% owned tungsten tin project located outside of Fredericton, New Brunswick and where Cadillac obtained positive drill results and new evidence of mineralization at the extents of this large property last summer and which is slated for follow up work in the Summer/Fall 2011 season; (ii) the Pickle Lake Gold project, a land package contiguous to three formerly productive historic gold mines which has been joint ventured to Newcastle Minerals Ltd.; and (iii) the New Alger project located in the Cadillac Break mining camp in Quebec which is a gold project joint ventured to Renforth Resources Inc.

For more information regarding Cadillac, please visit our website at www.cadillacventures.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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