Cadillac Ventures Inc.

Cadillac Ventures Inc.

May 02, 2011 15:47 ET

Cadillac Renews Engagement of Investor Relations Firm

TORONTO, ONTARIO--(Marketwire - May 2, 2011) -Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") is pleased to announce that it has renewed its agreement with Investor Cubed Inc. ("ICI") under which ICI will provide general consulting, investor relations and marketing services to Cadillac. The renewal agreement is effective from April 27, 2011 for a one year term, unless otherwise terminated or further renewed by the parties.

In consideration for the services to be provided by ICI, Cadillac has agreed to pay ICI a monthly fee of $5,000 per month. In addition, Cadillac has granted stock options to ICI to acquire up to an aggregate of 340,000 common shares of Cadillac at a price of $0.30 per share for a period of two years. The stock options will vest quarterly in four installments of 85,000 each, with the first installment vesting three months from the date of grant.

The renewal of the agreement with ICI, including the granting of stock options to ICI, is subject to the approval of the TSX Venture Exchange.

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 8.4 million tonnes at a grade of 1.79% Cu (see the Company's NI 43-101 compliant report titled "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 to Copper, the current 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 current deposit model referred to as the tooth target area. Presently the last of six planned holes is being completed. 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 target area. In addition, drilling along strike to both the east and the west has intersected mineralization outside of the current resource 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.

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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