03/12/2013 [ACCESSWIRE]

VANCOUVER, BC - CADAN RESOURCES CORPORATION (TSX-V: CXD; Frankfurt: RFU1) ("Cadan" or the "Company") is pleased to announce that it has filed an updated NI 43-101 technical report titled "Technical Report on T'Boli Gold and Silver Project, South Cotabato, Mindanao, Phillipines" dated effective 1 October 2012. The technical report is available on Sedar (www.sedar.com) and is also available on the Company's website www.cadanresources.com. The technical report on the T'Boli project has been prepared by Independent Qualified Person Howard Lahti, and Scott Robson a Qualified Person. The Inferred Mineral Resource was calculated in accordance with the CIM Standards of Disclosure for Mineral Resources and Mineral Reserves 2010 and NI 43-101.

T'Boli Gold-Silver Project

The T'Boli project is situated approximately 130 km southwest of Davao City, and 40 km west-northwest of General Santos City, in the Province of South Cotabato, Mindanao Island, Republic of the Philippines. Tribal Mining Corporation ("TMC") is the legal owner of licences covering the T'Boli project, and Cadan holds a 40% direct interest in TMC, as well as rights in the project pursuant to a mineral processing option agreement with TMC. The mineral processing option agreement provides Cadan with an exclusive right to process ore from the TMC mineral areas, consisting of 84.98 hectares under MPSA No. 090-97-X1 and 2,908.24 hectares under APSA No. 51-X1.

The T'Boli project consists of a historical underground mine and a new processing plant constructed by Cadan. Work on the project, by Cadan, has included the rehabilitation of an underground mining tunnel known as the Beehive Adit and decline, accessed through the Mafoko portal. This work has exposed the North and South vein sets for channel sampling and mapping of the underground workings, with face channel samples being undertaken every two meters. Sampling has also been undertaken on both walls of the decline, taking samples every one meter along the wall.

Underground exploration development work along vein including winzes and raises can now be utilized for stope preparation (Figure 1). This has resulted in significant saving in capital expenditure and time to production as 'Cut and Fill' stopes became available for production within the 4th quarter of 2012 and are expected to generate 100 to 200 tonnes per day ("tpd") throughout 2013 as required by the processing plant (see Company news release 26 November 2012).

"Incidental ore", grading a nominal 2-4 g/t Au, has been stockpiled and is immediately available to provide feed to the Company's mineral processing plant. To date the processing plant has averaged approximately 40 tpd and will require additional capital expenditure to meet expected production rates of 100-200 tpd.

The underground diamond drilling program, commenced in March 2012, was reviewed in the 4th quarter of 2012 and will be extended into 2013. To date, the drilling has been only selectively sampled and these results were used to provide the updated NI 43-101 technical report. The Company does however plan to more extensively sample the existing drill core to ensure that lower-grade mineralization envelopes will also be defined, and a further updated NI 43-101 technical report is anticipated to be prepared in 2013.

The following provides a summary of the current 2012 inferred mineral resource estimate on the T'Boli project as noted in the updated technical report and as announced by the Company on 24 January 2013.

The updated 2012 NI43-101 Inferred Mineral Resources estimate is 3.8Mt at 8.7g/t Au and 27g/t Ag for a contained 1.1Moz Au and 3.3Moz Ag.

The Inferred Mineral Resource was estimated using a wireframe model constructed from the basis of a 1g/t Au lower cut off grade, an in-situ bulk density of 2.5g/cm3, and a moisture content of 6%. The maximum search distance was 70m to create an informed grade within the three-dimensional block model (Table 1).

 -----------------------------------------------------------
 |CATEGORY |THOUSAND   |GOLD |SILVER|GOLD THOUSAND|SILVER  |
 |         |TONNES (kt)|(g/t)|(g/t) | Troy oz     |THOUSAND|
 |         |           |     |      |(koz)        |Troy oz |
 |         |           |     |      |             |(koz)   |
 |---------------------------------------------------------|
 |MEASURED |-          --    --     --            --       |
 |---------------------------------------------------------|
 |INDICATED|-          --    --     --            --       |
 |---------------------------------------------------------|
 |INFERRED |3,830.6    |8.7  |27    |1,068.8      |3,324.5 |
 |---------------------------------------------------------|
 |TOTAL    |3,800      |8.7  |27    |1,100        |3,300   |
 -----------------------------------------------------------

Mineral Resource Estimate, in-situ bulk density 2.5 g/cm3, 1g/t Au lower cut-off, moisture 6%. Totals and averages have been rounded to reflect the relative accuracy of the estimate.

Figure 1. T'Boli gold mine underground workings plan showing "incidental ore" stockpile, Mofoko tunnel entrance, on-vein development (east-west) and cross-cut development (north-south).

Cautionary Note

The decision by Cadan to become a gold producer or undertake trial mining at T'Boli has not been based on a feasibility study of mineral reserves in accordance with CIM Standards of Disclosure for Mineral Resources and Mineral Reserves 2010, but rather has been based primarily on trial or pilot mining and mineral processing guided by limited drilling and sampling. There is however no certainty that the proposed processing operation, or the development of the deposit, will be economically viable.

Technical aspects of this news release were approved by Howard Lahti, BSc Geology, MSc Geochemistry, PhD Litho-Geochemistry, Registered Professional Geoscientist of New Brunswick. Mr. Lahti is a consultant to Cadan, and a qualified person under NI 43-101. Mr. Lahti has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information and opinions contained in this news release. Please see the technical report for further information regarding the mineral resource and data verification.

**************************************

On behalf of the board of directors,

"Robert G Butchart"

Robert Butchart

President / CEO

For further information visit our website at www.cadanresources.com , email info@cadanresources.com or contact:

Robert ButchartJohn D. Anderson

President / CEOChairman

Email: butch.cadan@gmail.com Email: janderson@cadanresources.com

Neither the 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.

Forward Looking Statements

This news release contains forward-looking statements, indicated by use of the words "expected", "will be", "plan", "anticipated" and similar statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Particular risks applicable to this press release include risks associated with ongoing and planned exploration and production programs, including the ability to complete the programs as planned, the results being sufficient to confirm or expand resources on the property, or the ability to convert resources into reserves. There is no guarantee that exploration or production will result in an economically viable project due to these and numerous other risks and uncertainties normally associated with production stage mining projects. Readers are cautioned not to rely on forward looking information as a result. The reader is referred to the Company's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through www.cadanresources.com or the Company's page on SEDAR at http://www.sedar.com.