UpdateHalifax, Nova Scotia CANADA, September 17, 2007 /FSC/ - Acadian Mining Corporation (TSX - VX: ADA), ("Acadian Mining") announced today that it has filed a final report on the updated and revised resource estimation for its 100% owned Beaver Dam project in Nova Scotia. The following measured, indicated and inferred resource figures prepared by Mercator Geological Services Limited under the supervision of Peter Webster, P. Geo., independent consultants to Acadian Mining, and prepared in accordance with National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Standards on Mineral Resources and Mineral Reserves Definitions and Guidelines. The independent consultant's resource estimate is based on a final National Instrument 43-101 report dated September 14, 2007 and having an effective date of July 16, 2007.
The updated resource estimate is based on a 0.30g/t gold cut-off and the Company is pleased to report a measured and indicated resource of 446,000 ounces of gold (9,080,000 tonnes grading 1.53 g/t gold) plus an inferred resource of 504,000 ounces of gold (10,400,000 tonnes grading 1.51 g/t gold cut). (Table 1) Of this total resource, 46,000 ounces of gold (1,230,000 tonnes grading 1.16g/t gold) are hosted in satellite deposits referred to as the North Zone and Mill Shaft Zone which are located 600 metres north and 900 metres west respectively of the Main Zone.
The uncut resources, also based on a 0.30 g/t cut-off grade total 589,000 ounces of gold in the measured and indicated category (9,090,000 tonnes grading 2.01g/t gold), and 720,000 ounces of gold in the inferred category (10,370,000 tonnes grading 2.16 g/t gold). (Table 2)
These updated gold resource estimates represent an increase of 109% in the previously reported measured and indicated resources (cut) and 107% increase in the inferred resources (cut).