Acadian Mining Corporation

Published : August 18th, 2009

Exercises Option to Acquire Claims on FMS Trend

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Trading Symbol: ADA:TSX; C2Z-Frankfurt

News Release No. 17-09

Shares Outstanding: 324,958,360

August 18, 2009

                                                                                                                                                    

 

 

ACADIAN MINING EXERCISES OPTION TO ACQUIRE CLAIMS ON FMS TREND

FROM VOSTOK MINERALS

 

ACADIAN MINING�S SUBSIDIARY, SCOZINC LIMITED OUT OF CCAA WITH RECEIPT OF CERTIFICATE OF COMPLETION

 

Acadian Mining Corporation (TSX: ADA) ("Acadian" or the "Company") is pleased to announce that it has exercised the option with Vostok Minerals Inc. (VOS-TSX-V)  (�Vostok�) to purchase two  exploration licenses (the "Vostok Licenses") covering 2,536 hectares on the Fifteen Mile Stream Trend (�FMS Trend�) in the Nova Scotia goldfields together with Vostok�s extensive Nova Scotia gold exploration database.  Acadian now owns a 100% interest in the Vostok Licenses subject to a 2% nsr which can be purchased at any time at Acadian�s option for $2,000,000.  The addition of the Vostok Licenses brings Acadian�s holdings on the FMS Trend to 32,910 hectares.

 

The FMS Trend is a northeasterly trending geological corridor which has been identified as being prospective for low grade, bulk tonnage gold deposits potentially amenable to surface mining.  Three advanced gold projects currently being explored/developed in Nova Scotia occur on the FMS Trend, including the Beaver Dam and Fifteen Mile Stream properties controlled by Acadian.

 

The Vostok Licenses are strategically located in the 18 km long interval between Beaver Dam and Fifteen Mile Stream which together host the bulk of Acadian�s gold resources.  Details of Acadian�s gold resources at Beaver Dam and Fifteen Mile Stream are found in News Releases dated July 16, 2007 and May 29, 2008 respectively, which are filed on SEDAR and on the Company�s website.

 

Recognition of the FMS Trend as a district scale feature prospective for bulk tonnage gold deposits represents a major step forward in the search for this type of deposit in Nova Scotia.  Key features of the FMS Trend are the coincidence of thick intervals of siltstone and mudstone defining the Fifteen Mile Stream Formation, at the bottom of the Goldenville Group and a favourable structural setting.  A pictorial representation showing the distribution of the FMS Trend will be posted on the Company�s website.

 

Managements Opinion

 

Will Felderhof, President and CEO, stated, �Management is pleased to add the Vostok Licenses to Acadian�s holdings on the FMS Trend.  We believe the discovery potential on the FMS Trend for low grade � bulk tonnage gold deposits is excellent given that it is host to three such deposits, each at various stages of development.  The Vostok Licenses are particularly attractive as they are strategically located between Acadian�s Beaver Dam and Fifteen Mile Stream gold deposits.�

 

 ScoZinc Limited out of CCAA

 

Acadian�s wholly owned subsidiary, ScoZinc Limited (�ScoZinc�) has received its �Certificate of Full Completion� (the �Certificate�) from Grant Thornton Limited, in its capacity as Monitor of ScoZinc pursuant to the Companies� Creditors Arrangement Act (�CCAA�), which certificate has been filed with the Supreme Court of Nova Scotia (the �Court�).  The Certificate certifies that all conditions precedent to the Plan of Arrangement of ScoZinc (the �Plan�) pursuant to the CCAA as approved by the creditors on May 21, 2009 and sanctioned by the Court on May 28, 2009, have been satisfied or waived, all payments to the creditors of ScoZinc as set forth in the Plan have been made and the Plan has been fully completed.

 

Management�s Opinion

 

Will Felderhof, President and CEO stated, �We are very pleased to have this matter behind us and management can now once again focus on the business of building Acadian.  High up on the agenda will be the Fifteen Mile Stream bulk tonnage gold property and the internal re-start study on Scotia Zinc-Lead Mine.�

 

About Acadian

 

Acadian is a Halifax, Nova Scotia, Canada based mining company that owns a zinc-lead mine (Scotia Mine) at Gays River, Nova Scotia, which is currently on care and maintenance, and is exploring and developing gold, zinc-lead, and barite properties in Atlantic Canada.  Acadian holds a 29.18% interest in Royal Roads Corp. (RRO-TSX-V), which is actively exploring in Newfoundland and Labrador with a current focus on the historic Buchans Camp.

 

Other

 

Rick Horne, M.Sc., P. Geo., is a qualified person as defined by National Instrument 43-101 and has reviewed the technical information reported in this news release for accuracy.

 

Forward Looking Statement

 

Certain information regarding Acadian 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 Acadian 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.  Acadian cautions that actual performance will be affected by a number of factors, many of which are beyond Acadian�s control, and that future events and results may vary substantially from what Acadian currently foresees.  Discussion of the various factors that may affect future results is contained in Acadian�s Annual Information Form dated March 31, 2009, which is available at www.sedar.com.  Acadian�s forward-looking statements are expressly qualified in their entirety by this cautionary statement.

 

Additional Information

 

For additional information on Acadian�s properties and activities, please visit our web site at www.acadianmining.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

G. William Felderhof, President & CEO 

or Terry F. Coughlan, Vice President

(902) 444-7779   Toll Free: 877-444-7774

mail@acadianmining.com

Halifax, Nova Scotia

 

 

No regulatory authority has approved or disapproved the contents of this release.

 

<
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Acadian Mining Corporation

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CODE : ADA.TO
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Acadian Mining is a gold exploration company based in Canada.

Acadian Mining holds various exploration projects in Canada.

Its main exploration properties are JACKS POND, BUCHANS, TULKS HILL OPTIONED TO PROMINEX, SMITHFIELD NOVA SCOTTIA, LITTLE SANDY, CLEMENTINE, TULKS NORTH and 15 MILE STREAM in Canada.

Acadian Mining is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 4.1 millions as of today (US$ 4.1 millions, € 3.1 millions).

Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.02, and its highest recent level on January 22, 2010 at CA$ 9.00.

Acadian Mining has 67 690 000 shares outstanding.

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