Cadillac Mining Corporation agrees to a Flow-Through Placement with MineralFields Group



    VANCOUVER, July 22 /CNW/ - Cadillac Mining Corporation (TSXV:CQX) (the
Company) is pleased to announce that a private placement (the Private
Placement) of up to 2,000,000 Flow-Through Units of Cadillac at a price of
$0.10 has been arranged with MineralFields Group for total proceeds of
$200,000.
    Each Flow-Through Unit will consist of one common share to be issued on a
"flow-through" basis under the Income Tax Act (Canada) and one common share
purchase warrant of the Company (the Unit Warrants). Each Unit Warrant has a
term of 18 months, and will entitle the holder to purchase one Common Share at
a price of $0.15. All securities issued pursuant to the Private Placement will
be subject to four-month hold period. Fees comprising 100,000 24-month
brokers' options exercisable at $0.10 are payable to each of First Canadian
Capital Corporation and Limited Market Dealer Group, while the latter will
also receive a cash payment of $10,000. The Private Placement is subject to
approval by the TSX Venture Exchange.
    Cadillac intends to conduct meaningful but modest 2008 exploration
programs with the proceeds, and thereby protect its attractive capital
structure whilst market conditions remain depressed. Drilling programs are
expected to commence shortly, and will be announced as initiated.
    The management of Cadillac Mining is pleased to be commencing a
relationship with MineralFields Group. Hopefully this is an important
milestone in the growth of Cadillac, and we look forward to working with
MineralFields Group as we develop and expand our base and precious metal
exploration holdings in North America.

    About MineralFields, Pathway and First Canadian Securities (R):
    ---------------------------------------------------------------
    MineralFields Group (a division of Pathway Asset Management) is a
Toronto- and Vancouver-based mining fund with significant assets under
administration that offers its tax-advantaged super flow-through limited
partnerships to investors throughout Canada during most of the calendar year,
as well as hard-dollar resource limited partnerships to investors throughout
the world. Pathway Asset Management also specializes in the manufacturing and
distribution of structured products and mutual funds. Information about
MineralFields Group is available at www.mineralfields.com . First Canadian
Securities (R) is active in leading resource financings (both flow-through and
hard dollar PIPE financings) on competitive, effective and service-friendly
terms, with investors both within, and outside of, MineralFields Group.

    About Cadillac Mining Corporation:
    ----------------------------------
    Cadillac Mining Corporation is a junior resource company focused on the
acquisition, exploration and development of precious and base metal mineral
properties across Canada. Current activities include gold prospects near
Rouyn-Noranda, Quebec and a growing number of base-precious metal projects in
British Columbia.

    Statements contained in this release that are not historical facts may be
"forward-looking statements". Such statements are subject to risks and
uncertainties and other factors which may cause actual developments or results
or level of activity or performance to vary materially from those projected by
Management. The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release, which has
been prepared by Management.

    %SEDAR: 00009048E




For further information:

For further information: First Canadian Capital Corp., (866) 580-8891,
Victor Erickson, (604) 684-7300, Email: v.erickson@cadillacmining.com,
Website: www.cadillacmining.com

Organization Profile

Cadillac Mining Corporation

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890