CDC Cadillac Ventures Inc

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.


Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac") is pleased to announce
that it has closed the second and final tranche of its previously announced
private placement financing and has raised total gross proceeds under the
financing of approximately $4.61 million. The size of the financing was
increased due to investor demand by approximately $860,000 from $3.75 million to
$4.61 million.


Under the second tranche closing, Cadillac issued an additional 8,205,333 units
("Units") and 7,200,000 flow-through units ("Flow-Through Units") for additional
gross proceeds of approximately $3.61 million. Each Unit was issued at $0.22 and
consists of one common share and one-half of one warrant. Each Flow-through Unit
was issued at $0.25 and consists of one "flow-through" common share and one-half
of one warrant. Each whole warrant will be exercisable for 24 months for one
common share at $0.35. In total, Cadillac issued 11,081,333 Units and 8,684,000
Flow-Through Units pursuant to this financing.


The proceeds from the financing will principally be used for exploration
expenditures in respect of Cadillac's work projects and for general working
capital purposes.


Of the proceeds raised under the financing, $1.5 million was raised through the
sale of 6,000,000 Flow-Through Units to MineralFields Group.


"We are very pleased to be entering into this relationship with MineralFields
Group and we look forward to working with MineralFields Group as we continue to
develop our Thierry Property", said Norman Brewster, President and CEO of
Cadillac.


In connection with the financing Cadillac paid an aggregate cash finder's fee of
$307,665 and issued an aggregate of 1,440,106 compensation options to
registrants. Each compensation option entitles the holder to purchase one common
share of Cadillac at a price of $0.35 per share for one year.


All of the securities issued under the private placement will be subject to
statutory restrictions on resale for a period of four months.


Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security
Holders in Special Transactions ("MI 61-101"), the financing constituted a
"related party transaction" for Cadillac as Trafigura Beheer, B.V.
("Trafigura"), an existing shareholder of the Company, subscribed for 4,941,333
Units, representing approximately 25% of the offering. Prior to closing,
Trafigura held 15,760,806 shares of Cadillac representing approximately 25% of
Cadillac's pre-closing outstanding common shares. Post-closing, Trafigura holds
20,702,139 common shares of Cadillac (representing approximately 25% of
Cadillac's outstanding shares) and warrants to acquire 8,241,695 additional
common shares, which, if exercised, will result in Trafigura holding
approximately 31.5% of Cadillac's then outstanding common shares.


Cadillac was exempt from obtaining both a formal valuation and minority
shareholder approval in connection with the financing because neither the fair
market value of the common shares and warrants issued under the financing, nor
the consideration for such securities, exceeded 25 per cent of the Cadillac's
market capitalization as calculated in accordance with MI 61-101.


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.


The Thierry Property encompasses the past producing Thierry Mine which ceased
production in 1982 leaving 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 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.


For more information regarding Cadillac, please visit our website at
www.cadillacventures.com.


About MineralFields, Pathway and First Canadian Securities (R)

MineralFields Group (a division of Pathway Asset Management), based in Toronto,
Vancouver Montreal and Calgary, is a mining fund with significant assets under
administration that offers its tax-advantaged super flow-through limited
partnerships to investors throughout Canada 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 (including the Pathway Multi Series Funds Inc. corporate-class
mutual fund series). Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities (R) (a division of Limited
Market Dealer Inc.) is active in leading resource financings (both flow-through
and hard dollar PIPE financings) on competitive, effective and service-friendly
terms, and offers investment banking, mergers and acquisitions, and mining
industry consulting, services to resource companies. MineralFields and Pathway
have financed several hundred mining and oil and gas exploration companies to
date through First Canadian Securities (R).


Forward Looking Statements

This news release may contain certain forward-looking statements under
applicable securities laws. All statements, other than statements of historical
fact, are forward looking. Forward-looking statements are frequently identified
by such words as 'may', 'will', 'plan', 'expect', 'believe', 'anticipate',
'estimate', 'intend' and similar words referring to future events and results.
Forward-looking statements are based on the current opinions and expectations of
management. All forward-looking information is inherently uncertain and subject
to a variety of assumptions, risks and uncertainties, including the speculative
nature of mineral exploration and development, fluctuating commodity prices, the
risks of obtaining necessary licences and permits and the availability of
financing, as described in more detail in the Company's securities filings
available at www.sedar.com. Actual events or results may differ materially from
those projected in the forward-looking statements and the reader is cautioned
against placing undue reliance thereon. Cadillac assumes no obligation to revise
or update these forward-looking statements except as required by law. All dollar
amounts are in Canadian dollars unless otherwise noted.

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