2013-03-08 21:59:03 -
Vancouver, British Columbia, March 8, 2013 - Acadian Mining Corporation
(TSXV:ADA) has successfully completed a $900,000 non-brokered private placement,
consisting of 10 million shares at $0.09 per share.
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Acadian Mining Corporation is a Nova Scotia, Canada based, gold exploration
company, focused on exploring and developing its large portfolio of gold
properties in Nova Scotia, Canada. The company's two core gold projects, the 15
Mile Stream and Beaver Dam, host NI 43-101 compliant gold resources of
approximately 1.2 million ounces of gold, with 446,000 ounces in the indicated
and another 812,000 ounces in the inferred categories. For more information
to the NI 43-101 reports that are available on SEDAR.
These two properties, less than 20 kilometres apart, are being explored and
developed as potential bulk tonnage-open pit gold deposits.
Acadian currently has two Royalty Agreements with Flex Mining & Exploration
Limited, who plan to develop both the Tangier and Forest Hill gold properties.
Tangier and Forest Hill are both past producing mines within Nova Scotia.
Acadian also has a Royalty Agreement with Goldworx International Corporation on
the Goldenville property, which is Nova Scotia's largest historic gold producer.
Several other early stage projects in the Company's portfolio have potential to
host bulk tonnage projects.
The shares currently trade at $0.09, and with approximately 64 million shares
outstanding, the company is capitalized at $5.8 million.
For more information please visit the company's website www.acadianmining.com or
contact Grant Ewing, President & CEO at 902-444-7779 or email
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Barry Morgan, CFO
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