Cadillac Mining Plans 5000 Meters of Core Drilling at Goldstrike

Cadillac Mining Plans 5000 Meters of Core Drilling at Goldstrike

Vancouver, British Columbia CANADA, March 01, 2012 /FSC/ - Cadillac Mining Corporation (CQX - TSX Venture), announces that the next phase of exploration at its Goldstrike project will comprise a 5000 meter core drilling program to follow-up results from the Hamburg Extension announced in the Company's news release of February 21, 2012.

Thirty to forty angled diamond drill core holes are planned for five targets on the property, which is located in southwestern Utah, about 8 miles from the Nevada border.  The initial focus will be the Hamburg Extension where the December drilling intersected 1.08 g Au/tonne over 73.1 meters, and 1.25 g Au/tonne over 82.3 meters, in RC holes GS11-02 and 03, respectively.  Core drilling will be utilized to obtain essential information about the distribution, geometry and controls to mineralization, because such detail cannot readily be determined with RC methods in a complex geological environment.

Cadillac's 100%-owned Goldstrike property covers twelve abandoned open pits that produced about 210,000 oz of gold from heap-leach operations between 1988 and 1996. The Hamburg Extension lies on the south margin of a structural system that extends east-west over a distance of about 8 kilometers.  These, and adjacent structures showing similar characteristics, are largely untested except for localized shallow drilling. The immediate target area measures about 2000 meters in length by more than 300 meters in width on average, and targets Carlin-style mineralization confined to a silty-sandstone.  This part of the property lies principally within patented claims leased 100% by the Company.

Cadillac's President & CEO, Victor Erickson, stated, "Given the extent of the Carlin-style mineralization intersected in our December program, the broad area of prior mining on the property, and the generally permissive Great Basin geological environment, management believes that the Goldstrike project offers multi-million-ounce potential.  However, Cadillac's efforts are still at an early stage".
  
Cadillac's existing permit allows for the drilling of nineteen additional holes in the area of the Hamburg Extension.  Several drill-ready pads prepared in December are situated inside the permitted area, while a permit application for an additional thirteen drill holes has been partially processed by Utah DOGM.  Contractors have stated that core rigs are available for commencement of drilling in April.

Management is actively pursuing funding to conduct the proposed program.

Qualified Person

Andre J. Audet, P.Eng., Vice-President - Exploration, Cadillac Mining Corporation, fulfills the position of Qualified Person for Cadillac Mining Corporation, as per National Instrument 43-101.
  
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 release as a webpage, please click on the following link:
http://www.usetdas.com/pr/cadillacmarch012012.htm



Source: Cadillac Mining Corporation (TSX-V: CQX) http://www.cadillacmining.com
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