NEWS

Cadan Resources Limited announce T’Boli Mine reaches first ore

VANCOUVER, BC–(Marketwired – September 22, 2016) – Cadan Resources Corporation (TSX VENTURE: CXD) (“Cadan” or the “Company”) announces the T’Boli mine decline has advanced 358m and reached first ore on the 540 level crosscut. This is a significant milestone for the Company which reestablishes mechanized access to the first of a series of sub-parallel, stacked, high-grade Gold and Silver enriched epithermal veins for the first time since 2014.

Development of the Main Decline to the 515 level continues in accordance with the revised mine design which has been prepared by CSA Global from Perth, Western Australia (“CSA Global”). A site inspection was completed by mining engineering and geological consultants from CSA Global in September 2016 to review progress to date and enable CSA Global to finalize the revised T’Boli Mine model. Cadan expects to receive the final version of the mine model by the mid October 2016. CSA Global’s process will also include a revised resource reserve estimate which Cadan also expects to be in a position to release during October.

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