Cadan Comfirms New T'boli Gold Silver Zone; Possible Increase in Area and Grade of Resource

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 28, 2008) - CADAN RESOURCES CORPORATION (TSX VENTURE:CNF) (the "Company") is pleased to announce the results from a new zone of ongoing underground vein sampling at the T'Boli epithermal gold-silver deposit with a NI 43-101 Inferred Mineral Resource (2.4Mt @ 5.5g/t gold and 21g/t silver) for some 420,000 ounces of gold and 1,600,000 ounces of silver.

The veins, ranging in widths from 12cm to 30.80cm, are closely spaced and located in a new zone some 400m east, and possibly along strike, of the existing Southern Vein System which has a resource of 584,000 tonnes @ 10.2 g/t gold and 50 g/t silver. This new area is open and mapping and sampling continues.

Assays across the veins:

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Sample No Gold g/t Silver g/t Width cm
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TMC 050 18.20 42.80 30.80
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TMC 051 15.50 46.30 25.00
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TMC 052 22.30 6.80 15.00
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TMC 054 20.60 34.20 28.00
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Assays across the hanging wall:



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Sample No Gold g/t Silver g/t Width cm
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TMC 053 5.20 - 12
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Samples were assayed by JB Laboratory Inc, based in Monkayo, Philippines. Gold was analyzed by fire assay technique and silver by flame AAS technique. The check standard was 1.00 g/t Au and JB Laboratory assay returned 0.980 g/t Au.

Cadan operates the T'Boli gold-silver project through affiliate company, TMC Tribal Mining Corporation, headed by its President, Edgar D Martinez, a mining engineer.

Martinez said that these latest higher grade results continue to indicate that the Tboli gold-silver resource not only appears to be larger in area but also the grade appears to be higher than that of the NI 43-101. For more information see Cadan's News Release dated September 23, 2008 and available on Cadan's website: www.cadanresources.com.

Within this some 400m strike length, there has been no drilling or development aditing at depth and only minimal surface exploration has been undertaken. However, results of previous assays on the eastern side of the resource ranged from 13.37 g/t gold to 81.14 g/t gold and are highlighted on diagram one.

T'Boli Exploration Program Approved

TMC Tribal Mining Corporation has received approval from the Philippine government, dated September 9, 2008, for its ongoing exploration program and potential development of its T'Boli gold-silver deposit.

T'Boli Copper Target - Update

In a news release dated Monday May 25, 2008, Cadan announced a copper soil and coincident magnetic anomaly that covered an area of 1,000m x 1,000m. The soil samples returned up to 190ppm copper while background values ranged from 10 to 20ppm copper.

Geophysics IP crew test lines returned low chargeability in the target area indicating a deep seated target. Further ground geophysics is suspended pending compilation of the helicopter geophysical survey which will provide a more precise location of the target.

Qualified Person and Quality Control and Assurance

Technical aspects of this news release were prepared and verified by William Donald Goode, a member of the AusIMM and Technical Director of Cadan Resources. He is the qualified person as required by National Instrument 43-101, and is the technical person responsible for this news release. The qualified person has verified the data disclosed in this news release.

The Inferred Mineral Resource Estimate conforms with CIM Standards and is a NI 43-101 compliant Inferred Mineral Resource as defined in the Technical Report filed on SEDAR February 12, 2003.

For further information relating to the historical resource of the project, readers are referred to SUR technical report, specifically "T'Boli Group of Properties" pages 33 - 49, that is published and available on www.sedar.com - news release dated February 12, 2003. It is the opinion of the qualified person that all geological information in the report, as it relates to the T'Boli gold silver project, is current.

Cadan Resources Corporation is a junior exploration company with operations in the Philippines and Colombia and trades on the TSX Venture Exchange (Canada) with trading symbol CNF-V.

On behalf of the board of directors,

Brett Taylor, President & CEO

To view diagram one accompanying this press release, please click on the following link: http://media3.marketwire.com/docs/CADAN.pdf


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For more information, please contact

Cadan Resources Corporation
Matthew Bell
(604) 910-4908
Email: mattcnf@yahoo.ca

or

Cadan Resources Corporation
Brett Taylor
President & CEO
+63-920-909-5852
Email: btaylor@philco.bayands1.ph
Website: Cadan Resources

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