Cadillac Provides Update to Its $7.0 Million Private Placement Financing

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AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.


Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") announces
an amendment to its brokered private placement financing announced on October
26, 2011. In addition to offering units ("Units") at a price of $0.21 per Unit,
the Company will also offer flow-through units ("FT Units") at a price of $0.23
per FT Unit (as opposed to flow-through shares only as was announced on October
26, 2011) for aggregate gross proceeds of up to $7.0 million in any combination
of Units and FT Units. A syndicate of agents led by NCP Northland Capital
Partners Inc. and including Stifel Nicolaus Canada Inc. and Secutor Capital
Management Corporation (the "Agents") will continue to act as agents for the
financing.


As previously announced, each Unit will consist of one common share and one-half
of one common share purchase warrant. Each whole warrant (a "Warrant") will
entitle the holder to purchase one common share of the Company at a price of
$0.35 for a period of 24 months following closing.


Each FT Unit will consist of one common share to be issued on a "flow-through"
basis and one-half of one Warrant. Each whole Warrant forming part of the FT
Units will be exercisable on the same terms as the Warrant forming part of the
Units.


As previously announced, the Agents have the option, exercisable up to 48 hours
before closing of the Offering to increase the proceeds raised in the Offering
by up to 15% in any combination of Units or FT Units at their respective issue
price (the "Agents' Option").


The Company intends to use the net proceeds from the sale of the Units towards a
Preliminary Economic Assessment on the Thierry Property by early 2012, for
development of the Company's properties and for working capital purposes. The
gross proceeds from the sale of the FT Units will be used for Canadian
Exploration Expenses on the Company's Thierry Property in Ontario.


The Offering is being made by the Agents on a reasonable efforts basis and is
subject to certain conditions including, but not limited to, receipt of all
necessary regulatory approvals. The offering is expected to close later this
month. All securities to be issued under the offering will be subject to a
four-month statutory hold period in Canada.


Pursuant to an agreement between the Company and Urion Mining International B.V.
("Urion"), Urion, an existing shareholder of the Company holding, directly and
indirectly, approximately 25% of Cadillac's issued and outstanding common
shares, has the right to maintain its percentage equity interest in Cadillac. It
is anticipated that Urion will subscribe for that number of Units equal to
approximately 25% of the number of Units and FT Units issued under the offering
(including the exercise of the Agents' Option, if any). Pursuant to Multilateral
Instrument 61-101 - Protection of Minority Security Holders in Special
Transactions ("MI 61-101"), the issuance of Units to Urion will constitute a
"related party transaction". The Company is exempt from obtaining both a formal
valuation and minority shareholder approval in connection with the private
placement to Urion because neither the fair market value of the common shares
and warrants to be issued to Urion under the Offering, nor the consideration for
such securities, exceeds 25% of the Company's market capitalization as
calculated in accordance with MI 61-101. 


Assuming maximum participation under the Offering and the exercise of the
Agents' Option, and also assuming that only Units are issued and no FT Units are
issued under the Offering, a maximum aggregate of 38,333,333 Units would be
issued under the Offering.


About Cadillac 

Cadillac is a development-focused copper company currently advancing its 100%
owned Thierry Property, near Pickle Lake, Ontario. The Thierry Property consists
of the past producing Thierry Mine and hosts two NI 43-101 compliant resources:
Thierry Mine and K1-1. 


Thierry Mine Deposit

The Thierry Mine is a past producing mine with a current resource estimate
consisting of 8.3 million tonnes measured and indicated grading 1.73% Cu and
0.20% Ni, and 14.6 million tonnes inferred grading 1.70% Cu and 0.16% Ni, using
a cut-off NSR of C$46.30/tonne. The deposit remains open at depth and to the
west. 


K1-1 Deposit

The K1-1 is a potentially open-pit, large tonnage, low grade deposit located
approximately 3 km from the past producing Thierry Mine. The inferred mineral
resource estimate for K1-1 within a Whittle pit shell consists of the following
20 million tonnes grading 0.42% Cu, 0.10% Ni, 2.0 g/t Ag, 0.03 g/t Au, 0.05 g/t
Pt, 0.15 g/t Pd. The K1-1 Deposit is open along strike and at depth.


For more information regarding Cadillac, please visit the Company's website at
www.cadillacventures.com.


Forward-Looking Statements 

This news release contains forward-looking statements and information under
applicable securities laws, including with respect to the completion of the
Offering and the anticipated use of proceeds therefrom. All statements, other
than statements of historical fact, are forward looking. Forward-looking
statements are frequently identified by such words as 'may', 'will', 'plan',
'expect', 'believe', 'anticipate', 'estimate', 'intend' and similar words
referring to future events and results. Such statements and information are
based on the current opinions and expectations of management. All
forward-looking information is inherently uncertain and subject to a variety of
assumptions, risks and uncertainties, including the speculative nature of
mineral exploration and development, fluctuating commodity prices, the risks of
obtaining necessary approvals (including from the TSX Venture Exchange),
licences and permits and the availability of financing, as described in more
detail in the Company's securities filings available at www.sedar.com. Actual
events or results may differ materially from those projected in the
forward-looking statements and the reader is cautioned against placing undue
reliance thereon. Forward-looking information speaks only as of the date on
which it is provided and Cadillac assumes no obligation to revise or update
these forward-looking statements except as required by applicable law. All
dollar amounts are in Canadian dollars unless otherwise noted.