Cadillac Ventures Inc.
TSX VENTURE : CDC

Cadillac Ventures Inc.

October 21, 2010 16:27 ET

Cadillac Ventures Inc.: Clarification Press Release

TORONTO, ONTARIO--(Marketwire - Oct. 21, 2010) - Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") is issuing this press release in order to clear up confusion created by the distribution headline used by Stockwatch News (Canjex Publishing) at 9:09 a.m. this morning with respect to the Company's press release issued earlier in the morning.

The drilling program carried out at the historic San Eduardo Mine on the El Soldado Investigation permit in Southwestern Spain was successful in delivering positive results in each of the five holes drilled. The specific drill result chosen by StockWatch for its headline, although accurate, was one of 37 results encompassing the three separate drillholes reported in this morning's press release, and was neither the highest or the lowest assay value for Copper reported by Cadillac. In Cadillac's own headline, "Assays Results from San Eduardo, San Platon Update", no specific assay value was chosen to feature in the headline. The highest Copper assay value received from the three holes press released was 2.07% Cu over 1.19 m from 112.50m to 113.69m in hole SE-10-04, as presented in the table below.

Cadillac would like to restate that the success of this drill program at the historic San Eduardo Mine warrants further follow up work as follows.

1 - In order to better define the extent of the mineralization, and due to the fact that the existing geophysical information is both dated and comprised of lines spaced too far apart to create detailed interpretation, Cadillac is going to carry out a surface gravity survey based upon a grid spacing of 75x75 metres

2 – In order to better understand the disposition of the sulphide horizon Cadillac will conduct a DHEM (downhole EM) survey of SE-10-05

3 – The property hosts an area of known cupriferous shales which are known to be a previously exploited shallow occurrence of copper. Historically, the grade of the material is reported to be 3% Cu (Piritas de Huelva, I. Pinedo Vara, 1963). It appears that the mineralization is stratiform and located above the sequence of massive and semi-massive mineralization intersected in the 5 holes drilled. The geophysical survey to be conducted will clarify the extent and relationship of this mineralized horizon to the mineralization encountered in each of the five drillholes.

The assay results demonstrate that there is continuity to the massive and semi-massive sulphide mineralization over the five holes drilled. The mineralization is open to the West, East and downdip, with increasing thickness to the North, as depicted in the illustration below.

To view the illustration, please visit the following link: http://media3.marketwire.com/docs/cdc1021c.pdf

San Eduardo Assay Results Previously Released
Hole Number: from to Length Cu % Zn % Pb % S % Ag ppm
SE-10-01 101.03 103.03 2 0.012 0.251 0.067 3.27 2
SE-10-01 103.03 104.3 1.27 0.089 0.023 0.005 3.76 0.8
SE-10-01 104.3 106 1.7 0.009 0.075 0.034 10.75 1.4
SE-10-01 106 108 2 0.006 0.003 0.002 11.25 0.6
SE-10-01 108 110 2 0.001 0.001 0.001 12.05 0.4
SE-10-01 110 111.75 1.75 0.008 0.005 0.002 18.1 0.8
SE-10-01 111.75 113.95 2.2 0.001 0.009 0 0.19 <0.2
SE-10-01 113.95 115.95 2 0.019 0.005 0.005 15.6 1
SE-10-01 115.95 116.5 0.55 0.053 0.011 0.003 3.02 0.6
SE-10-01 116.5 118.5 2 0.006 0.013 0.002 0.46 0.2
SE-10-01 128.2 129 0.8 0.036 1.385 0.057 4.42 2.8
SE-10-01 129 130.37 1.27 0.038 0.021 0.007 1.24 1
SE-10-01 146.5 148.5 2 0 0.009 0 0.29 <0.2
SE-10-01 148.5 150.5 2 0.001 0.01 0.001 0.39 0.2
SE-10-01 150.5 152.5 2 0 0.006 0 <0.01 <0.2
SE-10-01 152.5 154.5 2 0 0.008 0 <0.01 <0.2
SE-10-02 100 102 2 0.019 0.025 0.004 7.7 1.3
SE-10-02 102 104 2 0.004 0.021 0.003 8.2 1.3
SE-10-02 104 106 2 0.003 0.002 0.002 11.5 0.5
SE-10-02 106 107 1 0.002 0.004 0.001 10.75 0.6
SE-10-02 107 109 2 0.046 0.01 0.017 43.2 2.9
SE-10-02 109 111 2 0.019 0.113 0.008 27.1 1.7
SE-10-02 111 112.4 1.4 0.025 0.003 0.004 24.6 1.1
SE-10-02 112.4 114 1.6 0.004 0.016 0.005 1.35 0.4
SE-10-02 122 123.6 1.6 3.81 0.22 0.047 31.3 16.5
SE-10-02 123.6 125.35 1.75 0.037 0.007 0.002 0.35 0.3
SE-10-02 125.35 127.35 2 1.805 7.86 1.705 27.1 77.7
SE-10-02 127.35 128.4 1.05 1.655 10.5 0.652 26.9 73
SE-10-02 128.4 129.8 1.4 0.242 0.385 0.022 3.8 2.3
SE-10-02 129.8 130.75 0.95 0.127 0.057 0.013 2.93 1.4
SE-10-03 20 22 2 0.002 0.0823 0.009 0.97 0.3
SE-10-03 22 24 2 0.002 0.228 0.048 2.98 1.3
SE-10-03 24 26 2 0.015 0.426 0.102 7.2 2.3
SE-10-03 26 28 2 0.003 0.0679 0.007 3.29 0.7
SE-10-03 28 30 2 0.004 0.0253 0.002 1.06 0.2
SE-10-03 30 31.5 1.5 0.001 0.1175 0.014 2.63 0.5
SE-10-03 78.5 80.5 2 0.029 0.103 0.021 7.3 1.6
SE-10-03 80.5 82.5 2 0.002 0.0595 0.019 12.75 1.5
SE-10-03 82.5 84.5 2 0.003 0.0289 0.004 16.4 0.8
SE-10-03 84.5 86.05 1.55 0.058 0.0014 0.002 12.8 0.4
SE-10-03 96.5 98.3 1.8 0.006 0.0101 0.004 9.6 0.9
SE-10-04 100.8 102.8 2 0.018 0.145 0.018 2.72 0.8
SE-10-04 102.8 104.8 2 0.003 0.0041 0.002 27.5 0.8
SE-10-04 104.8 106.8 2 0.105 0.0145 0.005 40.3 1.8
SE-10-04 106.8 108.8 2 0.107 0.0117 0.004 39 2.2
SE-10-04 108.8 110 1.2 0.011 0.0048 0.003 31 1.2
SE-10-04 110 111 1 0.003 0.0319 0.001 0.95 0.3
SE-10-04 111 112.5 1.5 1.23 2.97 0.645 14.3 27.9
SE-10-04 112.5 113.69 1.19 2.07 3.05 0.663 22.4 37.5
SE-10-04 113.69 115.69 2 0.094 0.0471 0.006 1 0.8
SE-10-04 115.69 117.3 1.61 0.144 0.0352 0.005 1.18 1.3
SE-10-04 117.3 117.65 0.35 2.04 1.12 0.124 31.2 32
SE-10-04 117.65 119.65 2 0.066 0.0395 0.002 0.43 0.5
SE-10-05 158.79 160.79 2 0.004 0.018 0.004 1.28 <0.2
SE-10-05 160.79 162.79 2 0.017 0.005 0.002 9.7 0.3
SE-10-05 162.79 164.79 2 0.002 0.001 0.002 9.78 0.5
SE-10-05 164.79 166.79 2 0.003 0.004 0.002 12.9 0.3
SE-10-05 166.79 168.79 2 0.001 0.002 0.003 9.95 0.2
SE-10-05 168.79 170.79 2 0.089 0.026 0.009 16.9 1.4
SE-10-05 170.79 171.3 0.51 0.075 0.017 0.003 2.9 0.6
SE-10-05 171.3 173.3 2 0.001 0.013 0.001 0.8 <0.2
SE-10-05 175.75 177.75 2 0.001 0.032 0.002 0.49 <0.2
SE-10-05 177.75 179.65 1.9 0.492 1.05 0.06 8.5 3.9
SE-10-05 179.65 180.35 0.7 0.139 0.884 0.269 2.54 3.4
SE-10-05 180.35 182.35 2 0.345 1.56 0.5 10.3 26.8
SE-10-05 182.35 184.35 2 0.035 0.755 0.24 4.64 8.1
SE-10-05 184.35 186.35 2 0.127 1.265 0.33 3.99 4.9
SE-10-05 186.35 187.8 1.45 0.533 0.227 0.058 9.51 7

The samples, which were obtained in the field under the supervision of Mr. Jose Malave EuroGeol, a qualified person as defined by National Instrument 43-101, were bagged and tagged onsite and hand delivered to the Seville sample preparation facility of ALS Chemex. The samples were prepared in Seville and a representative portion of each sample was sent by air to the ALS Chemex facility in Vancouver for processing. ALS Chemex is an independent accredited lab facility.

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 is a development-focused exploration company which has the past-producing Thierry Property near Pickle Lake in Northern Ontario, several exploration projects in Spain in joint venture with MATSA and three Canadian exploration projects, located in regions that have been historically active.

The Thierry Property encompasses the past producing Thierry Mine which ceased production in 1982 leaving potentially economic mineralization in situ. In addition to the Thierry mine project, Cadillac wholly owns the New Alger project, a previously productive gold mine, located outside of Cadillac, Quebec, where the Company has entered into a joint venture agreement with Renforth Resources Inc. for a three year $2.5 million exploration program. In Spain, the Company is joint venture partner with Minas de Aguas Tenidas, S.A.U. regarding the exploration of 12 different investigation licenses surrounding the Aguas Tenidas Mine in the Iberian Pyrite Belt of southern Spain. The Pickle Lake Gold project held by Cadillac is a land package contiguous to three formerly productive historic gold mines; this project has been joint ventured to Newcastle Minerals Ltd. The Burnt Hill Project is a 51% owned tungsten tin project located outside of Fredericton, New Brunswick.

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.

Contact Information

  • Cadillac Ventures Inc.
    Norman Brewster
    President and Chief Executive Officer
    416 203-7722