Comval Copper Gold Project: Operational Update Reported by Mining Group Limited

CADAN RESOURCES CORPORATION (TSX VENTURE:CXD)(FRANKFURT:AOMZ25) ("Cadan")
advises that Mining Group Limited (ASX:MNE) has announced details of an
operational update on activities at the Comval Copper Gold Project. The news
release by Mining Group may be viewed on the Australian Securities Exchange
("ASX") Website listed below.


The Comval Project is operated by Philco Mining Company ("PMC"), which holds the
exploration permits on the Comval properties. Cadan retains a 20% free-carried
interest in PMC. Mining Group Limited ("MGL") has an 80% interest in PMC and is
the manager of the project. In addition to its direct 20% interest in PMC, Cadan
also owns approximately 6.2% of MGL present issued capital (rising to
approximately 15.8% fully diluted for options and assuming MGL exercise an
option to acquire the Batoto Gold Project, (refer to CXD news release of January
17, 2012 for details).


To access the ASX website:
http://www.asx.com.au/asx/statistics/announcements.do. MGL's ASX symbol is MNE.


Forward Looking Statements

This news release may contain forward-looking statements. Forward-looking
statements address future events and conditions and therefore involve inherent
risks and uncertainties. Actual results may differ materially from those
currently anticipated in such statements. Particular risks applicable to this
press release include risks associated with planned production, including the
ability of the Company to achieve its targeted production outline due to
regulatory, technical or economic factors. In addition, there are risks
associated with estimates of resources, and there is no guarantee that a
resource will have demonstrated economic viability as necessary to be classified
as a reserve. There is no guarantee that additional exploration work will result
in significant increases to resource estimates. The reader is referred to the
Company's most recent annual and interim Management's Discussion and Analysis
for a more complete discussion of such risk factors and their potential effects,
copies of which may be accessed through www.cadanresources.com or the Company's
page on SEDAR at http://www.sedar.com.