Acadian Announces Appointment of New Director and Resignation of Current Director

Trading Symbol: ADA: TSX; ADAIF: OTCQX

HALIFAX, March 8, 2012 /CNW/ - Acadian Mining Corporation ("Acadian" or the "Corporation") (TSX: ADA) and the board of directors are pleased to announce the appointment of William Bush as a director of the Corporation.  Based in London, UK, William Bush is a retired partner of a leading international accounting and professional services firm with over 25 years' experience in providing tax and business advice to UK and international business. Mr. Bush is Igneous Capital Limited's ("Igneous") nominee to the Board of Acadian. Igneous recently acquired 10,783,145 common shares of Acadian from Golden River Resources Corporation, which represents approximately 19.9% of the issued and outstanding shares of the Corporation.

Grant Ewing, President and Chief Executive Officer, stated on behalf of the board of directors: "We are delighted to have Mr. Bush join the Board of Acadian. Will brings substantial expertise and executive experience suitable to Acadian's business activities, and I take this opportunity of welcoming Will to the Board and look forward to working with him over the coming years. "

The Corporation would also like to announce the resignation of Menachem Vorchheimer from Acadian's board of directors.  The Board would like to recognize and sincerely thank Menachem for his service and contribution to the Corporation over the past 3 years.

About the Corporation

Acadian is a Halifax, Nova Scotia, Canada based company with five advanced gold projects, all of which host National Instrument 43-101 compliant resources. The Corporation also owns barite properties on Cape Breton Island, Nova Scotia.  Acadian's primary focus is centered on exploration and development of its core gold deposits in Atlantic Canada, namely the Fifteen Mile Stream and Beaver Dam Projects.

For additional information on Acadian's properties and activities, please visit our web site at: www.acadianmining.com.

No regulatory authority has approved or disapproved the contents of this news release.

Grant Ewing, President and Chief Executive Officer
[phone] Toll Free: [phone]
[email protected]
Halifax, Nova Scotia