TORONTO, ONTARIO -- (Marketwire) -- 07/27/10 -- Cadillac Ventures Inc. (TSX VENTURE: CDC) ('Cadillac' or the 'Company') is pleased to announce that is has signed a technical service agreement with Trafigura Beheer B.V. ('Trafigura') whereby Cadillac will provide geological services to Trafigura regarding Trafigura's exploration projects. Under the terms of this agreement Cadillac will be compensated on a per diem basis for the time of Mr. Norman Brewster, President and CEO of Cadillac and/or Mr. Jaques Felenc, Vice President, Exploration of Cadillac, and recoup any third party expenses incurred on a cost plus basis.
Mr. Norman Brewster, President of Cadillac commented 'Cadillac looks forward to further developing our relationship with Trafigura by providing our expertise to their projects, at the same time realizing value and cash flow for Cadillac shareholders.'
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.
The Thierry Property encompasses the past producing Thierry Mine which ceased production in 1982 leaving potentially economic mineralization in situ. 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 Pickle Lake Gold project held by Cadillac is a land package contiguous to three formerly productive historic gold mines, this project has been joint ventured to Newcastle Minerals Ltd. The Burnt Hill Project is a 51% owned tungsten tin project located outside of Fredericton, New Brunswick.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cadillac Ventures Inc.
President and Chief Executive Officer