Cadillac Ventures Inc.

Cadillac Ventures Inc.

January 29, 2014 08:30 ET

Cadillac Provides Update on Burnt Hill Project Drilling

TORONTO, ONTARIO--(Marketwired - Jan. 29, 2014) - Cadillac Ventures Inc. (TSX VENTURE:CDC)(OTC:CADIF) ("Cadillac" or the "Company") is pleased to provide the following update on the Burnt Hill Project located in New Brunswick, specifically a drill program in the Burnt Hill Mine area. This program successfully intersected tin, tungsten and silver mineralization in areas both outside and above the current identified resource at Burnt Hill. Upon a future recalculation of the resource at Burnt Hill, it is anticipated that the results of these holes will contribute an increase to a restated resource.

The findings of the recent drilling are still awaiting assays and final interpretation, however field results for the following holes drilled include:

BH13-06 - this hole was drilled approximately 50m E of the modeled resource and encountered mineralization in a series of quartz veins from 10.3m to 212.6m down the hole. The mineralization was comprised of sulfide stringers and clots and fine to coarse wolframite blades, with fine scheelite and cassiterite also occurring at times.

BH13-07 - this hole was also drilled to the east, 50m east of hole BH13-06. Narrow mineralized quartz veins were observed in several zones from 15.5m to 166.7m down hole. Sulfide is present in fracture fills and clots within and around the veins. Fine to coarse blades of wolframite and fine scheelite and cassiterite are observed within the quartz veins along the entire intersection.

BH13-08 - this hole was drilled outside of the resource and encountered mineralization in four zones within the hole. From the collar to 22m fine to coarse wolframites and sulphide stringers and clots were encountered, wolframite bearing quartz veins were encountered between 60-66m and 71-76m. The final zone was encountered from approximately 180m until the end of the hole at 227m, this contained clots and stringers of pyrite, pyrrhotite and arsenopyrite as well as silver and scheelite.

BH13-09 - this hole was drilled outside of the resource and encountered six instances of tin enrichment in the first 70m and a loose mineralized package between 110-140m with a handful of veins carrying fine wolframite, scheelite and medium cassiterite.

BH13-10 - this hole was drilled within the resource area but targeted above the existing workings and modeled resource. At 67m the hole encountered a small void associated with the workings and was stopped. Prior to being stopped the hole had encountered several zones of wolframite and sulphide mineralization.

BH13-11 - this hole was drilled within the resource area but above the existing workings and modeled resource, this hole was well mineralized with wolframite in four distinct packages between the collar and 40m, 50-90m, 100-120m and 230-270m down the hole. In addition to the wolframite field logging also notes the presence of sulphides and silver.

A surface plan sketch below depicts the drillhole collars in relationship to the current calculated resource location at Burnt Hill.

Norman Brewster, P.Geo, President and CEO of Cadillac stated, "These positive drill results, as seen in the field, support our focus on the Burnt Hill Project. We believe we have a significant tungsten and tin deposit at the Burnt Hill Mine site, and in addition we have our discoveries including Wolf Ridge. The silver at Burnt Hill is simply another facet to this exciting project. Suffice to say we are excited by the scope of what we can build at Burnt Hill."

Mr. Brian H. Newton P.Geo, a qualified person pursuant to the requirement set out in National Instrument 43-101 has reviewed and approved the technical contents of this press release.

About Cadillac

Cadillac is a development-focused copper company currently advancing its 100% owned Thierry Property, near Pickle Lake, Ontario. The Thierry Property consists of the past producing Thierry Mine and hosts two NI 43-101 compliant resources: Thierry Mine and K1-1.

In addition, Cadillac also holds a 51% interest in the Burnt Hill Project, a historic tungsten/tin mine taken to test production by Mr. Norman Brewster P.Geo for Canadian International Paper during the early 1980's. Cadillac looks forward to resuming the development of this project.

Forward-Looking Statements

This news release contains forward-looking statements and information under applicable securities laws, including with respect to the anticipated increase in resources at Burnt Hill and the significant tungsten and tin deposit at the Burnt Hill Mine Site. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as 'may', 'will', 'plan', 'expect', 'believe', 'anticipate', 'estimate', 'intend' and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals (including from the TSX Venture Exchange), licences and permits and the availability of financing, as described in more detail in the Company's securities filings available at Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and Cadillac assumes no obligation to revise or update these forward-looking statements except as required by applicable law.

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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