Acadian Mining Corporation Announces Settlement Agreement with Equipment
Supplier

Trading Symbol: ADA:TSX

HALIFAX, Dec. 2 /CNW/ - Acadian Mining Corporation ("Corporation") (TSX: ADA) is pleased to announce that it has reached a settlement with an equipment supplier ("Supplier") with respect to amounts owing by the Corporation pursuant to a guarantee given in 2007, in respect of several leases and conditional sales agreements ("Equipment Agreements") between the Supplier and a wholly-owned subsidiary of the Corporation. 

Acadian has agreed to pay the Supplier $900,000 in full and final settlement of all amounts owing with respect to the Equipment Agreements.  Pursuant to the terms of the agreement reached, the payment will be made in instalments over several months, with the final payment due at the end of May 2011.

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 a zinc-lead mine (Scotia Mine) at Gays River, Nova Scotia, which is currently on care and maintenance, and barite properties on Cape Breton Island, Nova Scotia.  Acadian's primary focus is centered on exploration and development of its gold deposits in Atlantic Canada.

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.

For further information:

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