Acadian Commences Drilling at its Fifteen Mile Stream Gold Project

Trading Symbol: ADA:TSX

HALIFAX, June 23, 2011 /CNW/ - Acadian Mining Corporation ("Acadian" or "Company") (TSX: ADA) is pleased to announce that it has commenced the first phase of a diamond drilling program at its Fifteen Mile Stream gold project. This drill program is part of a comprehensive gold exploration program planned for the Company's vast landholdings in Nova Scotia, Canada. Other projects that have been prioritized for significant exploration activities in the future include the Beaver Dam, Golden Seal, and FMS Trend projects.

Grant Ewing, President and C.E.O., stated, "We are very pleased to be commencing the initial drill program on our Fifteen Mile Stream gold project. This project is viewed as our top priority, and we believe that the deposit has significant potential for resource expansion. With Acadian's restructuring activities now complete, we are ready to launch as a focused gold exploration and development company."

Gold mineralization at Fifteen Mile Stream occurs as both coarse, free gold in quartz veins and as disseminated and free gold in altered mudstone-siltstone host rocks. The rock units that host the deposit have been structurally thickened in the hinge of a moderately east-plunging, overturned anticline that comes to surface in the main area of the resource (Egerton-McLean Zone). Approximately 700 metres to the west the same fold structure, which takes the shape of an elongated dome, plunges gently to the west and is also mineralized, although no gold resource has been quantified in this area (Hudson Zone) due to lack of drilling.

The initial 4,000 metre drill program at Fifteen Mile Stream is expected to further define the near surface gold potential that has not been adequately tested in the past. It is expected that considerable gold mineralization will be encountered in this area. An extensive strike length measuring approximately 3.2 kilometres has been identified as having potential to host mineralization in the Fifteen Mile Stream area and will be drill tested in a second phase of drilling. In addition, Acadian controls an extensive land position along the prospective trend (the FMS Trend) that hosts the Fifteen Mile Stream and Beaver Dam deposits.

Historic Information
Approximately 27,000 metres of drilling in 136 drill holes have been completed on the deposit historically, and an inferred resource estimate totalling 202,000 ounces of gold (3,796,650 tonnes grading 1.66 g/t gold) has been established based on this drilling. (see "Technical Report and Resource Estimate on the Fifteen Mile Stream Gold Property, Halifax County, Nova Scotia", May 27, 2008).

Select drill intercepts from the Egerton-McLean zone include:

  • 134.51 metres grading 1.88 g/t gold in DDH 85-12 (100% sampled)*
  • 102.59 metres grading 1.41 g/t gold in DDH 87-024 (89% sampled)
  • 102.93 metres grading 1.46 g/t gold in DDH 87-044 (79% sampled)

*Includes Acadian sampling of previously un-sampled intervals.

Recent sampling of un-sampled intervals of available archived core returned positive results, indicating the existing resource may be understated (see News Releases dated March 4, 2010 and March 17, 2010). The current drill program is also designed to confirm historical data.

Qualified Person
Richard Horne, M.Sc., P.Geo., Chief Geologist of Acadian, is a Qualified Person as that term is defined in National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.

Forward Looking Statement
Certain information regarding Acadian contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Acadian believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Acadian cautions that actual performance will be affected by a number of factors, many of which are beyond Acadian's control, and that future events and results may vary substantially from what Acadian currently foresees. Discussion of the various factors that may affect future results is contained in Acadian's Annual Information Form dated March 31, 2011, which is available at www.SEDAR.com. Acadian's forward-looking statements are expressly qualified in their entirety by this cautionary statement.

About the Corporation
Acadian is a Halifax, Nova Scotia, Canada based company with five advanced gold projects, all of which host National Instrument 43-101 compliant resources. The Corporation also owns barite properties on Cape Breton Island, Nova Scotia. Acadian's primary focus is centered on exploration and development of its gold deposits in Atlantic Canada.

For additional information on Acadian's properties and activities, please visit our web site at: www.acadianmining.com.

No regulatory authority has approved or disapproved the contents of this news release.

SOURCE ACADIAN MINING CORPORATION

For further information:

Grant Ewing, President and Chief Executive Officer
(902) 444-7779  Toll Free: (877) 444-7774
mail@acadianmining.com
Halifax, Nova Scotia

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ACADIAN MINING CORPORATION

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