Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") is
pleased to report that a recently completed updated resource estimate by P&E
Mining Consultants Inc. for the former Thierry mine consists of an Indicated
Resource of 6,228,000 tonnes containing 1.92% Cu and 0.2% Ni and an Inferred
resource of 8,379,000 tonnes containing 1.79% Cu and 0.16% Ni using an NSR
cut-off of C$46/tonne.




Table 1 - June 2010 Updated Resource Estimate at a C$46/tonne NSR cut-off   
--------------------------------------------------------------------------
Class             Tonnes   Cu %   Ni %   Ag g/t   Au g/t   Pt g/t   Pd g/t
--------------------------------------------------------------------------
Measured       2,221,000   1.90   0.21      7.7     0.13     0.13     0.41
--------------------------------------------------------------------------
Indicated      4,007,000   1.93   0.20      7.1     0.14     0.14     0.41
--------------------------------------------------------------------------
Meas&Ind       6,228,000   1.92   0.20      7.3     0.14     0.14     0.41
--------------------------------------------------------------------------
Inferred       8,379,000   1.79   0.16      9.6     0.18     0.12     0.35
--------------------------------------------------------------------------

1.  Mineral resources which are not mineral reserves do not have
    demonstrated economic viability. The estimate of mineral resources may
    be materially affected by environmental, permitting, legal, title,
    taxation, socio-political, marketing, or other relevant issues. 
2.  The quantity and grade of reported inferred resources in this estimation
    are uncertain in nature and there has been insufficient exploration to
    define these inferred resources as an indicated or measured mineral
    resource and it is uncertain if further exploration will result in
    upgrading them to an indicated or measured mineral resource category. 
3.  The mineral resources in this press release were estimated using the
    Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM
    Standards on Mineral Resources and Reserves, Definitions and Guidelines
    prepared by the CIM Standing Committee on Reserve Definitions and
    adopted by CIM Council December 11, 2005. 
4.  The 2 year trailing average US metal prices used in this estimate were
    $2.75/lb Cu, $7.62/lb Ni, $14.75/oz Ag, $945/oz Au, $1,350/oz Pt and
    $308/oz Pd. The C$US$ Exchange rate was 0.95. 
5.  Overall payable metal in the NSR calculation were 84% Cu, 13% Ni and 37%
    for Ag, Au, Pt & Pd. 
6.  Costs used to determine the C$46/tonne NSR cut-off value are as follows:
    mining C$28/tonne, processing C$13/tonne and G&A C$5/tonne. 



The resource statement was prepared at the request of Cadillac using the
additional data generated by drilling 20 holes in 2007 and 2008 by the former
operators of the property as well as the drilling used in previous NI 43-101
resource estimates. In all, 1,180 surface and underground drill holes were
utilized on 15 metre drill sections in the resource estimate. Block model grades
were determined with inverse distance squared (1/d2) interpolation. The Thierry
mineralization has a strike length of 1,300 m and a down dip distance of 1,600m.


Cadillac is the sole owner of the former Thierry Mine which sits on
approximately 4600 hectares of leased land outside the Town of Pickle Lake in
Northern Ontario. This resource statement was prepared by P&E Mining Consultants
Inc. under the supervision of Eugene Puritch P.Eng in a manner which meets the
guidelines of National Instrument 43-101. A technical report will be filed
within 45 days of this press release.


Cadillac is pleased by the significant increase in the resource evident when the
June 2010 resource statement in Table 1 is compared against the September 2006
statement in Table 2 below. Drill results incorporated into the updated June
2010 statement include intersections at a vertical depth of greater than 900
metres, and several holes which encountered mineralization in previously
untested areas of the deposit. 




Table 2 - September 2006 Resource Estimate                                  
------------------------------------------------------------------------
Classification    Tonnes (i)   Cu%   Ni%  Ag g/t  Au g/t  Pt g/t  Pd g/t
------------------------------------------------------------------------
Measured              26,000  1.72  0.24    5.74    0.08    0.28    0.46
------------------------------------------------------------------------
Indicated          5,544,000  1.81  0.19    5.67    0.08    0.13    0.28
------------------------------------------------------------------------
Meas.&Ind.         5,570,000  1.80  0.19    5.67    0.08    0.13    0.28
------------------------------------------------------------------------
Inferred           3,403,000  1.60  0.18    6.10    0.12    0.14    0.39
------------------------------------------------------------------------
The mineral resources in this press release were estimated using the Canadian
Institute of Mining, Metallurgy and Petroleum ("CIM" Standards on Mineral
Resources and Reserves, Definitions and Guidelines prepared by the CIM 
Standing Committee on Reserve Definitions and adopted by CIM Council 
December 11, 2005.



Mr. Brian H. Newton P.Geo, on behalf of the Company and Eugene Puritch, P.Eng
are "Qualified Persons" pursuant to NI 43-101 and both have reviewed and
approved the contents of this press release.


About Cadillac

Cadillac is a development-focused exploration company which has the
past-producing Thierry Property near Pickle Lake in Northern Ontario, several
exploration projects in Spain in joint venture with MATSA and three Canadian
exploration projects, located in regions that have been historically active.


In addition to the Thierry mine project Cadillac wholly owns the New Alger
project, a previously productive gold mine, located outside of Cadillac, Quebec,
where the Company has entered into a joint venture agreement with Renforth
Resources Inc. for a three year $2.5 million exploration program. In Spain, the
Company is joint venture partner with Minas de Aguas Tenidas, S.A.U. regarding
the exploration of 12 different investigation licenses surrounding the Aguas
Tenidas Mine in the Iberian Pyrite Belt of southern Spain. The Burnt Hill
Project is a 51% owned tungsten tin project located outside of Fredericton, New
Brunswick. The Company also holds the Pickle Gold project comprised of 21 claims
in the vicinity of 3 historically productive gold mines near Pickle Lake, and
the Kirkland Gold project, located about 15 kilometres west of the town of
Kirkland Lake.
Cadillac Ventures (TSXV:CDC)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Cadillac Ventures Charts.
Cadillac Ventures (TSXV:CDC)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Cadillac Ventures Charts.