Trading Symbol: ADA:TSX; C2Z-Frankfurt
Shares Outstanding: 491,691,616
HALIFAX, April 1 /CNW/ - Acadian Mining Corporation (TSX: ADA) ("Acadian" or the "Corporation") filed its annual audited consolidated financial statements, management's discussion and analysis of results and annual information form on the regulatory filing site, www.sedar.com and on the Corporation's website, www.acadianmining.com.
The Corporation also announced that since January 2010, Golden River Resources Corporation, which holds 69% of the Corporation's outstanding shares, has advanced to the Corporation sums totaling $600,000 by way of a non-interest bearing loan with no fixed terms of repayment. These funds will be used to fund the Corporation's ongoing activities, including the care and maintenance of its Scotia Mine and activities on its gold properties, pending securing additional funding by way of debt or equity financing or the proceeds from the sale of assets.
Acadian is a Halifax, Nova Scotia, Canada based mining company with five advanced gold projects, all of which host National Instrument 43-101 compliant resources. The Corporation also owns a zinc-lead mine (Scotia Mine) at Gays River, Nova Scotia, which is currently on care and maintenance. Acadian is actively exploring and developing its gold, zinc-lead, and barite properties in Atlantic Canada. Acadian holds a 29.18% interest in Royal Roads Corp. (RRO-TSX-V), which is actively exploring in Newfoundland and Labrador with a current focus on the historic Buchans Camp.
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, 2010, which is available at www.sedar.com. Acadian's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
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 release.
SOURCE Acadian Mining Corporation
For further information: For further information: Paul Smith, (902) 444-7779, Toll Free: (877) 444-7774, firstname.lastname@example.org