Cadiscor Resources Inc.

Cadiscor Resources Inc.

December 20, 2006 16:48 ET

Cadiscor Resources Acquires Option on Cameron Shear Property Located East of Discovery

Vincent Jourdain, Ph.D, Eng. Geol. Appointed Vice President of Exploration for Cadiscor Resources

MONTREAL, QUEBEC--(CCNMatthews - Dec. 20, 2006) - Cadiscor Resources Inc. ("Cadiscor") (TSX VENTURE:CAO) (Frankfurt:DQN) is pleased to announce the signature of a Letter of Agreement with Canadian Royalties Inc. ("Canadian Royalties") (TSX: CZZ) for their Cameron Shear property, adjacent to the east of Cadiscor's Discovery gold property. Cadiscor is presently conducting a 19,000-metre drilling program with three drills on the Discovery deposit, and has reported excellent results for the first nine holes in a press release issued December 12th 2006. (see

The Cameron Shear property consists of 193 claims covering 3,038 hectares and host an eight-kilometre section of the well known Cameron Deformation Zone between the Discovery deposit and Iamgold Corp.'s Flordin gold deposit to the east. The property is relatively unexplored, but a hole drilled by Klondike Gold in 1997, during the most recently-reported work, returned a value of 0.5 g/t Au over 7.6 metres.

The principal terms of the option are as follows:

- Cadiscor may acquire a 50% undivided interest in the property and exercise its option by funding $1,000,000 in exploration and making cash payments totalling $50,000 over five years. Cadiscor must also issue 75,000 common shares to Canadian Royalties upon signature of the agreement;

- Cadiscor is the project operator and as such, has a right of veto under certain conditions;

- Cadiscor will also have the option of increasing its interest in the property from 50% to 60% once it has exercised its option, by financing the entire cost of a bankable feasibility study for the property.

The transaction is subject to the approval of both boards of directors, as well as regulatory authorities.

Management is also pleased to announce that Mr. Vincent Jourdain, Ph.D., Eng. Geol. is joining its team as Vice President of Exploration. Mr. Jourdain was recently Director of Exploration, Quebec, for Eastmain Resources Inc., prior to which he was Senior Geologist, Project Generation, for the Abitibi Region for SOQUEM INC. During the 20 years he has worked in the industry, he has assessed numerous exploration and development projects and worked for many resource and development companies, including Richmont Mines, where he supervised the final bulk sampling and resource estimation for the Nugget Pond project in Baie Verte, Newfoundland.

Cadiscor's board of directors has granted Mr. Vincent Jourdain, as an officer of the company, 300,000 stock options at $1.00 per share for a five-year period beginning on his hiring date, December 11th 2006.


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