January 14, 2014 – Toronto, Ontario – Cadman Resources Inc. (CUZ) (“Cadman” or the “Company”) is pleased to announce that the Company has entered into a Letter of Intent (“LOI”) to acquire 100% of new graphite project in north west Nevada. The Company has signed an LOI with a private Nevada corporation to acquire a 100% interest in a project known as the Grumpy Lizard property (the “Property”) which is comprised of 56 claims. The company intends to sign a definitive binding agreement with respect to the Grumpy Lizard shortly and will begin immediate due diligence investigation on the project. Terms of the final agreement are to be announced.
The Grumpy Lizard graphite property is comprised of 56 claims for a total of 1120 acres. Recent reconnaissance prospecting in the claims area carried out by Gold Exploration Management Services Inc. observed occurrences of large flake graphite exposed at surface. The local terrain is mountainous with very little vegetation due to the arid climate and elevation. The numerous exposed outcroppings observed suggest rock bodies of greater than 10 meter widths which may run for several kilometres within a much more extensive prospective area which is part of ongoing investigations. The current investigations are preliminary and do not conform to the requirements of National Instrument 43-101 and should not be relied upon as an indicator of actual resource or reserve estimates, and should be construed only as conceptual in nature.
Cadman is a junior exploration company with projects in Quebec and Tanzania. Cadman trades on the CSE under the symbol CUZ. For more information please visit the web site at cadmanresourcesinc.com
On behalf of the board of Directors
CADMAN RESOURCES INC.
CEO & Chairman
For further information, please contact Boris Ziger, Chief Executive Officer, at:
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.
The CSE has not reviewed, approved or disapproved the content of this press release.