Acadian posts resource at Beaver Dam (November 29, 2004)

A preliminary resource calculation for Acadian Gold (ADA-V) on the Beaver Dam deposit in central Nova Scotia indicates a measured and indicated resource of 1.3 million tonnes grading 2.3 grams gold per tonne, and an inferred resource of 3.8 million tonnes grading 2.7 grams gold.

After cutting high grades back to 10 grams gold per tonne, the grade of the measured and indicated resource falls to 2.2 grams per tonne and that of the inferred resource, to 2.1 grams per tonne. The estimates were based on a cutoff grade of 0.3 gram per tonne above the 930-metre level (about 200 metres below surface) and 1 gram per tonne below that level. A minimum width of 3 metres was used to select resource blocks.

The calculation, by Mercator Geological Services, was based on underground sampling and 238 drill holes by previous operators since 1977.