Cadillac Mining Intersects 1.25 g/t Gold Over 82 Meters; Confirms Significant Mineralization at Goldstrike

Cadillac Mining Intersects 1.25 g/t Gold Over 82 Meters; Confirms Significant Mineralization at Goldstrike

Vancouver, British Columbia CANADA, February 21, 2012 /FSC/ - Cadillac Mining Corporation (CQX - TSX Venture), is pleased to announce results of a three-hole orientation drill program conducted at its 100%-owned Goldstrike project in southwestern Utah in December 2011. Three reverse circulation (RC) holes, aggregating 567 meters (1860 ft.) were drilled from a single pad on the Hamburg Extension.

Cadillac's two northerly-oriented holes GS11-02 & 03 intersected 1.08 g Au/tonne over 73.1 meters, and 1.25 g Au/tonne over 82.3 meters respectively, with significant intervals of up to 19.8 meters averaging 2.88 g Au/tonne.   GS11-01, directed southerly, crossed a bounding fault and failed to intersect mineralization of economic potential.  The weighted average grades of the mineralized intervals are set out below.

-***-

-------------------------------------------------------------------------
HOLE NO.  LENGTH   DIP  AZIMUTH  MINERALIZED INTERVAL              AU
            (M)   (DEG)  (DEG)     FROM - TO (M)*     LENGTH(M) (G/TONNE)
-------------------------------------------------------------------------
GS11-01    164.6   -70    180    No significant values

GS11-02    201.2   -72    360          24.4 - 97.5        73.1      1.08
                                 Incl. 24.4 - 68.6        44.2      1.56
                                 Incl. 45.7 - 61.0        15.3      2.51

GS11-03    201.2   -67    330          24.4 - 106.7       82.3      1.25
                                 Incl. 24.4 - 74.7        50.3      1.58
                                 Incl. 33.5 - 53.3        19.8      2.88
                                 And  100.6 - 106.7        6.1      3.00
-------------------------------------------------------------------------

-****-

* The mineralized intervals reported above are not true widths

Cadillac's President & CEO, Victor Erickson, commented, "The current results and extensive data base from the project suggest that the previous activities on the Goldstrike property were largely driven by immediate mining pressures, effectively precluding a broader approach to exploration. These new results are from but a small part of the property.  Based on the number of former open pits, the historical mining activities, the structural setting, and style of mineralization, the Goldstrike property covers what appears to be a large mineralized system."

The Goldstrike property covers 12 former open pits that were mined for gold between 1988 and 1994. The Hamburg Extension lies on the south margin of a graben that preserved a favourable sandstone, host to most of the reported heap-leach production of about 200,000 oz.  The graben structure extends east-west over a distance of about 8 kilometers, and is entirely covered by Cadillac's claim holdings.  

A resource was calculated for the Hamburg Extension by the former mine operator in 1991, but the deposit remained unexploited when the mine closed in 1994 because of various economic factors.  Cadillac's immediate target area, measuring approximately two kilometers long by more than 300 meters wide on average, extends outward from the Hamburg Extension.  It is one of approximately fifteen targets identified to date on the Goldstrike property.

The oxidized gold mineralization is interpreted to be Carlin-type hosted in a Tertiary-age sandstone unconformably overlying an older limestone.  High-angle graben-controlling faults, and sets of post-mineral cross faults have created a complex geometry to the sandstone host, to the extent that the "true widths" of the mineralized intervals reported herein have yet to be fully understood. Readers are cautioned accordingly.

Cadillac's drill program has demonstrated that significant grades and intervals of gold mineralization occur on the Goldstrike property.  The Company is currently planning another round of exploration, using angled core drilling to develop a comprehensive geological model for the property.  Cadillac's existing permit allows for the drilling of 19 additional holes in the area of the Hamburg Extension.  Several drill pads have been prepared for this purpose.

Drilling, Sampling & Analytical Procedures

Drilling was contracted to National EWP of Elko, Nevada.  Samples were taken systematically at 1.52 meter (5 ft) intervals using an automated rotary splitter, and shipped to ALS Laboratories in Sparks, Nevada for preparation.  Analyses were conducted in Vancouver, British Columbia by ALS Laboratories, who conform to ISO/OEC 17025 - 2005.  All samples were analyzed with standard ALS procedure utilizing a 30-gram fire assay with AA finish (5ppb detection limit).  

Quality Control  

Mr. Andre J. Audet, P.Eng., V.P. Exploration of Cadillac Mining Corporation, and Qualified Person as defined in National Instrument 43-101, participated in and directly supervised the drilling and sampling program.

About Cadillac Mining Corporation

Cadillac Mining Corporation is a junior exploration and development company based in Vancouver, Canada focused on large-scale precious and base metal projects in the Abitibi geological province in Canada, and the Great Basin in the western USA. The Company's long term objective is the discovery of a major deposit through carefully planned exploration strategies. Its business model provides shareholders access to a wealth of exploration experience, dedicated management and the opportunity to experience discovery through a very conservatively capitalized company.  The Company has approximately 29 million shares outstanding.

On Behalf of the Board of Directors

Victor Erickson, P.Eng.

President & CEO

For further information:

Website    www.cadillacmining.com

Company    Victor Erickson    604-684-7300
           President & CEO
           v.erickson@cadillacmining.com


Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the Canadian securities laws.  Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "budgets", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions.  Forward-looking information in this news release include statements about the recently completed reverse circulation drilling program which may be deemed to be forward-looking information in that it reflects a prediction of the mineralization that could be encountered if additional exploration and drilling is completed.

In connection with the forward-looking information contained in this news release, Cadillac has made numerous assumptions, regarding, among other things: the geological data and information has received is reliable, and is based upon practices and methodologies which are consistent with industry standards.  While Cadillac considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.  Additionally, there are known and unknown risk factors which could cause Cadillac's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein.  Known risk factors include, among others: the possibility that future drilling on the Goldstrike project may not occur on a timely basis, or at all; that additional drilling may not intersect additional gold mineralization and uncertainty as to timely availability of permits and other governmental approvals.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and Cadillac disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

To view this press release as a web page, click onto the link below:
www.usetdas.com/PR/cadillacmining21022012.htm





Source: Cadillac Mining Corporation (TSX-V: CQX) http://www.cadillacmining.com
Maximum News Dissemination by Filing Services Canada Inc. http://www.usetdas.com