Cassidy Gold Corp.
TSX VENTURE : CDY

Cassidy Gold Corp.

December 13, 2006 13:49 ET

Cassidy Gold Intersects 4.18 g/t Au over 29m at Kinkine Zone, Kouroussa Gold Project, Guinea

KAMLOOPS, BRITISH COLUMBIA--(CCNMatthews - Dec. 13, 2006) - Cassidy Gold Corp. (TSX VENTURE:CDY) is pleased to announce results from reverse circulation (RC) and diamond drilling on its 100%-owned Kouroussa Gold Project, located in Guinea, West Africa. Step-out drilling at Kinkine included 32 RC holes totalling 3748.5 metres and one diamond drill tail totalling 153.5 metres. Drilling stepped south of Kinkine across the Kinkine-Daouda Zone, 300 metres to the south, and 80 metres to the north. Highlights include 4.18 g/t Au over 29.0 metres in KRC1013 at Kinkine-Daouda, 1.84 g/t Au over 18.5 metres in KRC1025 below the current resource outline, and 10.92 g/t Au over 5.0 metres in KRC1028 to the northeast. True widths have not been calculated because mineralization occurs in at least two orientations.

The Kinkine Zone, located 4 kilometres north of Cassidy's Sanu Filanan deposit, consists of near-surface, potentially open-pittable, mainly oxide mineralization, outlined over an area 375 metres by 200 metres. RSG Global Consulting estimated an indicated resource of 89,000 ounces of gold in 1,486,000 tonnes grading 1.9 g/t Au and an additional 35,000 ounces of inferred ounces in 722,000 tonnes grading 1.5 g/t Au in September 2006. An independent technical report describing the resource study is posted at www.sedar.com.

Latest drilling demonstrates that mineralization extends below and to the north and east of the current resource. Updated location maps will be posted on www.cassidygold.com shortly.

Kinkine-Daouda

Kinkine-Daouda is an old collapsed artisanal mine site, approximately 50 by 100 metres in size, located 300 metres south of Kinkine. Three fences totalling 11 holes tested under and adjacent to the workings. Drilling under the workings was very successful in identifying significant mineralization (see Table 1). Highlights include 4.18 g/t Au over 29.0 metres in KRC1013 and 1.56 g/t Au over 11.0 metres in KRC1016 under the central part of the structure. Forty metres to the southwest, KRC1014 intersected 1.18 g/t Au over 5.0 metres and KRC1015 hit 2.32 g/t Au over 6.0 metres. Forty metres to the northeast, KRC1017 intersected 1.14 g/t Au over 11.0 metres. Kinkine-Daouda remains open to the northeast and southwest.




Table 1 Kinkine-Daouda Zone
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Hole ID From (m) To (m) Length (m) Au (g/t)
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KRC1011 41.0 47.0 6.0 0.97
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and 68.0 71.0 3.0 1.94
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KRC1013 37.0 66.0 29.0 4.18
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and 74.0 78.0 4.0 2.39
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KRC1014 7.0 12.0 5.0 1.18
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KRC1015 106.0 112.0 6.0 2.32
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KRC1016 62.0 73.0 11.0 1.56
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KRC1017 16.0 27.0 11.0 1.14
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In addition, two fences of four holes each tested the potential north-south connection between the Kinkine and Daouda zones. Drilling failed to detect any significant mineralized structures suggesting that there may be no direct link between the two mineralized zones.

Kinkine Zone - Southeast Section

One RC hole with a diamond tail was completed under the south end of the Kinkine main zone to test for parallel zones of mineralization extending to depth below the current resource model. The top 95.5 metres was drilled by RC, intersecting 9.0 metres grading 1.10 g/t Au. A diamond drill tail was drilled to a depth of 249.0 metres, a total of 153.5 metres of core. Several zones of quartz-sericite-pyrite alteration were noted, a few of which hosted small amounts of visible gold. The best interval was 18.5 metres grading 1.84 g/t Au from 142.5 to 161.0 metres downhole. A second 8.0-metre interval, between 195.0 and 203.0 metres, assayed 1.19 g/t Au. Strong mineralization continued to the bottom of the hole (see Table 2). The hole was stopped to focus on near-surface targets, but these results clearly demonstrate the presence of gold mineralization below the mainly oxide gold resource identified in earlier drilling.



Table 2 Kinkine Zone - Southeast Section
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Hole ID From (m) To (m) Length (m) Au (g/t)
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KRC1025 27.0 36.0 9.0 1.10
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and 113.0 114.0 1.0 6.11
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and 131.0 138.4 7.4 0.56
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and 142.5 161.0 18.5 1.84
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and 170.0 172.0 2.0 1.08
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and 195.0 203.0 8.0 1.19
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and 211.0 214.0 3.0 1.78
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and 219.0 221.0 2.0 1.13
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and 227.0 228.0 1.0 7.00
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and 235.0 238.0 3.0 5.84
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and 242.0 247.0 5.0 1.57
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KRC1026 31.0 32.0 1.0 21.00
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and 48.0 77.0 29.0 0.69
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KRC1026 was drilled along the east side of the main Kinkine zone, 150 metres south of KRC1028 and 200 metres northeast of KRC1025, intersecting a broad zone of low-grade mineralization, 29.0 metres grading 0.69 g/t Au.

Kinkine Zone - North Section

Two drill sections stepped to the northeast at 40-metre intervals. The first section, KRC1027 to KRC1030, confirmed 2 mineralized trends including 10.92 g/t Au over 5.0 metres and 0.92 g/t Au over 13.0 metres in KRC1028 to the northeast, and 4.44 g/t Au over 6.0 metres in KRC1030 to the north. The second section, KRC1031 to KRC1035, 40 metre further northeast, confirmed that split in mineralization. To the east, KRC1031 intersected 1.21 g/t Au over 10.0 metres and KRC1032 returned 0.58 g/t Au over 15.0 metres. On the northerly trend, KRC1035 intersected 5.0 metres assaying 1.47 g/t Au. Further drilling is planned stepping to the east and northeast.


Table 3 Kinkine Zone - North Section RC Results
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Hole ID From (m) To (m) Length (m) Au (g/t)
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KRC1028 8.0 21.0 13.0 0.92
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and 25.0 30.0 5.0 10.92
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KRC1028 105.0 108.0 3.0 1.78
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KRC1029 37.0 40.0 3.0 1.13
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and 52.0 56.0 4.0 0.95
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and 71.0 76.0 5.0 0.95
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KRC1030 13.0 19.0 6.0 4.44
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KRC1031 25.0 35.0 10.0 1.21
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KRC1032 24.0 39.0 15.0 0.58
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and 42.0 47.0 5.0 0.51
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KRC1034 27.0 29.0 2.0 1.16
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KRC1035 37.0 42.0 5.0 1.47
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Kinkine Regional

Aircore drilling continues to test along the Kinkine trend to the northeast, south, southwest, and west. To date, over 8000 metres in 95 holes have been completed, covering 4000 linear metres. Results of much of this work are pending due to minor delays in the assay lab.

Exploration Program

RC drilling is currently testing several targets within the Koekoe resource area including Koekoe Creek, North West Plateau, Northern Plateau, and Western Lode. A second RC drill is being mobilized in the next few days to begin testing targets at Dalaoule and Banjounani, 10 kilometres to the northwest. The first drill will continue to test extensions to JJ and KD-1 in the Koekoe area, and east and northeastern extensions at Kinkine. Drilling will continue through the holiday season.

Sampling and Assay Procedures

RC drill samples were collected from the cyclone and split or pipe sampled to 1 kilogram size. A rock saw split HQ size drill core samples over sample lengths of 0.5 to 1.5 metres. All samples were sent to the SGS analytical laboratory in Siguiri, Guinea for fire assay using a 50-gram subsample. Samples assaying greater than 5 g/t gold are reassayed using a metallics screen technique. Repeat assays are made on every 25th sample, and duplicates and blanks are submitted, one each in every 20 samples. Quality control/quality assurance is closely monitored by RSG Global personnel.

Personnel

Senior Geologist Brad Ackroyd of RSG Global Consulting heads the exploration team in Guinea. Christopher J. Wild, P.Eng, VP Exploration for Cassidy Gold Corp, is the Qualified Person for this release.

On behalf of the Board of Directors

Cassidy Gold Corp.

James T. Gillis, President

This press release may be accessed at Cassidy Gold Corp.'s website: www.cassidygold.com and at www.sedar.com.

If you wish to be placed on Cassidy Gold Corp.'s e-mail press release list, please contact us at cassidygold@telus.net.


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