Cadiscor Resources Inc.
TSX VENTURE : CAO

Cadiscor Resources Inc.

August 21, 2006 14:47 ET

Cadiscor Resources Inc. Starts Trading on the TSX Venture Exchange

MONTREAL, QUEBEC--(CCNMatthews - Aug. 21, 2006) - Cadiscor Resources Inc. (TSX VENTURE:CAO)

Cadiscor Resources Inc ("Cadiscor") is pleased to announce that the corporation started trading today on the TSX Venture Exchange under the symbol CAO. The company owns 100% of three gold properties in the Abitibi region, in Quebec, home of several operating gold mines.

The company announced on August 17, 2006 the closing of an Initial Public Offering (IPO) for an amount of Cdn $6,6 M. The IPO proceeds will be mostly used to fund the exploration program on the Discovery property, an advanced gold exploration project.

In 2004, Strateco Resources Inc. reported a drilling result of 10.7 g/t Au over a 6.7m true width, on the East lens of the property. The Discovery property has road, rail and power infrastructure on or near the property.

In May 2006, the property was the subject of a NI 43-101 compliant report by InnovExplo Inc. The report indicates that the gold zones are continuous and that the potential for upgrading inferred resources to the indicated resources category is high. It also states that the potential for adding to the resources with more drilling is high, especially at depth, under the known gold zones. It recommends a two stages Phase I drilling program. The first stage for delineation of Inferred resources totals 20 holes for 11,500 meters. The second stage focus on deep targets, with 31 holes for 21,000 meters. The total budget for the two stages of the Phase I drilling programs is estimated at $4,850,000. The InnovExplo report also recommends carrying a pre-feasibility study afterward to evaluate a Phase II underground bulk sampling program, with the objectives of confirming geological and grade continuities.

Cadiscor expects to start drilling on Discovery at the beginning of October 2006 with two diamond drill rigs. The drilling campaign will last several months, with up to four diamond drill rigs and the company plans to release updated resource estimation at the end of Q1, 2007.

The company management is taking action to be listed on the Frankfurt Stock Exchange before the end of September to increase visibility and liquidity. As well, the management is presently evaluating other business opportunities that would expand the company mining portfolio.

Cadiscor has a new web site where additional information regarding the properties, exploration programs, and biographies of Board members can be found: www.cadiscor.com .

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSABILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information