Acadian Mining Corporation ADAIF

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ACADIAN GOLD ADOPTS SHAREHOLDER RIGHTS PLAN Halifax, Nova Scotia CANADA, May 08, 2007 /FSC/ - Acadian Gold Corporation (TSX - VX: ADA), is pleased to announce that its board of directors has adopted a shareholder rights plan designed to encourage the fair and equal treatment of shareholders in connection with any takeover bid for the outstanding securities of the Company. The rights plan provides the board of directors with additional time to assess the advantages and disadvantages to any particular offer and to seek out alternative proposals in the best interests of all shareholders. Acadian Gold has not adopted the rights plan in response to any specific proposal to acquire control of its outstanding shares. The rights plan is similar to plans adopted by other Canadian companies and ratified by their shareholders. It is not the intention of the rights plan to entrench management or prevent a change of control of Acadian Gold to the detriment of shareholders. The rights plan does not apply to takeover bids that meet certain requirements including that the bid be made by way of a takeover bid circular and be left open for at least 60 days so as to ensure that shareholders have an adequate opportunity to assess the merits of the bid. The rights plan has been conditionally accepted by the TSX Venture Exchange subject to obtaining shareholder ratification of the rights plan at the annual general and special meeting to be held on June 14, 2007. If ratified, the rights plan will have an initial term which expires at the annual meeting of shareholders of Acadian Gold to be held in 2010, and may be extended for a second term lasting until the annual meeting of shareholders to be held in 2013. A copy of the rights plan will be available for viewing on SEDAR, and can also be obtained from Acadian Gold. About Acadian Gold Acadian Gold is a Halifax, Nova Scotia, Canada based resource company which has brought a zinc-lead mine, Scotia Mine, located at Gays River, Nova Scotia into operation. In addition to bringing a new mine on stream, Acadian Gold is focused on exploring and developing gold, zinc and barite properties in Atlantic Canada. The Scotia Mine will operate initially as an open pit mine and is expected to produce 30,000 tonnes of high grade zinc concentrate and 10,000 tonnes of high grade lead concentrate per year. This production is equivalent to 39.8 million pounds of zinc metal and 16.5 million pounds of lead metal annually. Please see Press Release No. 16-06, July 17, 2006 for further details. Acadian Gold is also focused on developing four advanced gold properties, Beaver Dam, Tangier, Forest Hill and Goldenville, which form the core holdings of the Scotia Goldfields project. All of the four advanced properties host gold resources described in technical reports prepared in compliance with National Instrument 43-101 and are available on www.sedar.com. A summary of gold resources is provided in Press Release No. 01-06, January 5, 2006, under the paragraph titled "About Acadian Gold". Acadian Gold is bringing a new approach to the development of Nova Scotia gold deposits by pursuing a multiple mine central processing, managing and servicing strategy. Acadian Gold holds a 45.92% equity interest in Royal Roads Corp. ("Royal Roads") (RRO-TSX-V). Royal Roads' principal asset is a 16,075 hectare (approximately 32 km x 5 km) mineral property known as the Tulks North property which is strategically located in the centre of the world-class Buchans base metal camp in central Newfoundland, Canada. In addition, Royal Roads holds a 53.06% equity interest in Buchans River Ltd. ("Buchans River") (BUV-TSX-V), which company also holds a highly prospective property portfolio in the Buchans camp. Acadian Gold's indirect interest in Buchans River is 27%. Royal Roads' Tulks North property is host to the Daniel's Pond deposit which was discovered by BP Resources Canada Ltd. in 1989. Royal Roads reported (see Press Release issued November 7, 2006) an inferred resource (Zn cutoff = 2%, S.G. 4.0) of 1.69 million tonnes grading 0.57% copper, 4.40% lead, 8.37% zinc, 196.9 g/t silver and 0.68 g/t gold over an average width of 4.2 metres. Other Terence Coughlan, B.Sc., P.Geo., is acting as Qualified Person in compliance with National Instrument 43-101with respect to this release and has reviewed the contents for accuracy. Forward-Looking Statement Certain information regarding the Company contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees. Discussion of the various factors that may affect future results is contained in the Company's 2005 Annual Report which is available at www.sedar.com. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement. For additional information on the Company's properties and activities, please visit our web site at www.acadiangold.ca. If you wish to be added to the Company's e-mail or fax distribution list for future news releases and updates, please contact us at phone: [phone], fax: [phone], email: [e-mail]. FOR FURTHER INFORMATION, PLEASE CONTACT: G. William Felderhof, President & CEO or Terry F. Coughlan, Vice President [phone] Toll Free: 877-444-7774 [e-mail] Halifax, Nova Scotia The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Release No. 15-07 Shares Outstanding: 134,452,825 Acadian Gold Corporation Suite 2001, Purdy's Wharf Tower II, 1969 Upper Water Street Halifax, Nova Scotia B3J 3R7 T: [phone] F: [phone] Toll free 1-877-444-7774 www.acadiangold.ca News By Filing Services Canada, Distributed By The Richmond Club Maximum News Dissemination by Filing Services Canada Inc. Ph: [phone] Fx: [phone] www.usetdas.com