Cadan Resources Corp : Cadan’s First Gold Pour Worth Over $500k CAD

December 13, 2012
NEWS RELEASE
TSX-V: CXD FSE: RFU1

CADAN’S FIRST GOLD POUR WORTH OVER $500k CAD

VANCOUVER, BC – CADAN RESOURCES CORPORATION (TSX-V: CXD; Frankfurt: RFU1) (“Cadan” or the “Company”) is pleased to announce that the Company’s Philippines affiliate, Tribal Mining Corporation (TMC), has poured its first gold since the approval to commence commercial production at the T’Boli gold-silver mine (Company News Release October18, 2012).
The first gold bars were poured at the TMC owned carbon-in-leach (CIL) processing plant in T’Boli, South Cotabato, Philippines. Between October 10th and November 30th, the T’Boli CIL plant milled 1,881 dry metric tons (DMT) of mineralized rock from existing stockpiles (Company News Release November 26,
2012). With assays of 98% Au, and weighing a total of 316oz, the average grade of gold produced from
1,881 DMT was 5.2g Au/DMT. Additionally, 497oz of silver were recovered; the average grade of silver produced from the 1,881 DMT was 8.2g Ag/DMT.
The average prices for the metal sold were CAD $1,680/oz Au and CAD $32.50/oz Ag for a combined recovery of CAD $547,032.
Cadan’s President and CEO, Robert Butchart, commented:
“Cadan’s first gold pour is a fantastic milestone, reaching over half a million dollars in metal value. This confirms the mill is operational. We are very excited about what we have achieved.”

The mineralized rock stockpile was predominantly derived from the development of drives along veins in preparation of stopping operations during 2011 and 2012 (News Release November 26, 2012). The first of these drives is scheduled to commence mining operations during the first quarter of 2013, with daily production rates scheduled to rise up to 200t per day.

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