Acadian Mining intersects 33 meters grading 1.37 g/t gold including 8 meters
grading 3.01 g/t gold at Beaver Dam, Nova Scotia

News provided by

Acadian Mining Corporation

Dec 15, 2009, 10:07 ET

    
    Trading Symbol: ADA:TSX; C2Z-Frankfurt
    Shares Outstanding: 491,691,616

HALIFAX , Dec. 15 /CNW/ - Acadian Mining Corporation (TSX: ADA) ("Acadian" or the "Company") announced the results of a further 4 diamond drill holes of the recently completed 13 hole, 2360.5 meter program, on the Beaver Dam gold property, Nova Scotia. Drill holes BD-09-143 and BD-09-144 are in-fill drill holes on 12.5 m line spacing designed to increase the confidence level of the current resource. Drill holes BD-09-145 and BD-09-146 are deeper holes designed to test the down dip extensions of discrete higher grade zones within the deposit near surface. The current resource is based on drilling on a 25 m line spacing and 20 m along the line grid pattern. The ultimate objective is to move the project, which is being evaluated for both its bulk tonnage-open pit potential and underground potential at depth, to the feasibility stage. Further exploration drilling is also planned with the objective of expanding resources.

The highlights of drill holes BD-09-143 to BD-09-146 are presented in Table 1 below. The three previously released drill holes (BD-09-140 to BD-09-142) are presented in Table 2.

    
    Table 1 Significant Results - Drill Holes BD-09-143 to BD-09-146
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    Drill Holes        From (m)       Interval (m)   Gold Grade (uncut g/t)
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    BD-09-143           23.00            55.00              0.91
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    Including           23.00            30.00              1.25
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    Including           23.00            18.00              1.68
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    BD-09-144           54.00            33.00              1.37
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    Including           70.00            14.00              2.27
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    Including           70.00             8.00              3.01
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    BD-09-145          155.00             1.00             18.70
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    And                202.00            20.00              0.87
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    Including          207.00             3.00              3.13
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    Including          207.00             9.00              1.38
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    BD-09-146          159.00             1.00              5.84
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    And                159.00            17.00              0.87
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    Including          159.00            10.00              1.22
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    Table 2 Significant Results - Drill Holes BD-09-140 to BD-09-142
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    (Previously Released Nov 4, 09)
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    Drill Holes        From (m)       Interval (m)   Gold Grade (uncut g/t)
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    BD-09-140           18.00            53.00              2.25
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    Including           18.00            21.00              4.99
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    Including           38.00             1.00             81.08
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    BD-09-141           31.00            51.00              1.42
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    Including           63.00            19.00              2.11
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    Including           63.00             9.00              3.48
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    BD-09-142            7.00            40.00              0.87
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    Including           24.00            21.00              1.12
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    Including           34.00            10.00              1.88
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The true width of gold mineralized intercepts varies from approximately 80% (-50 dip hole) to 85% (-45 dip hole) of the intercept width. Drill hole co-ordinates for drill hole numbers BD-09-140 to BD-09-153 are tabulated in the news release dated November 4, 2009 .

The Beaver Dam Main Zone as presently defined has a strike length of 725 meters and averages approximately 30 meters in width. Drilling to date has generally been to shallow depths to support a potential bulk tonnage - open pit development plan. However, limited deep drilling to date demonstrates the continuity of the gold zones to depth, and supports the potential for a gold deposit amenable to underground mining methods below the open pit target.

The current resource at Beaver Dam is comprised of cut indicated resources of 446,000 oz. gold (9.08 million tonnes grading 1.53 g/t gold) and cut inferred resources of 504,000 oz. gold (10.40 million tonnes grading 1.50 g/t gold) based on a lower cut-off of 0.3 g/t gold and top-cuts of 14 and 25 g/t gold. Details of the Beaver Dam resources are described in the "Technical Report on the Updated Mineral Resource Estimate", effective date July 16, 2007 and filed on SEDAR September 17, 2007 .

    
    Management's Opinion
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Will Felderhof, President and CEO, stated, "These results continue to support the bulk tonnage - open pit potential at Beaver Dam, and we look forward to the point in time when a decision can be made to commence a feasibility study."

    
    Other
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Terence F. Coughlan, P. Geo., is a qualified person as defined by National Instrument 43-101 and has reviewed the technical information reported in this news release for accuracy.

    
    Technical Reports
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"Technical Report on the Updated Mineral Resource Estimate for the Beaver Dam Property, Halifax County, Nova Scotia, Canada ", dated September 14, 2007 and filed on SEDAR September 17, 2007 .

    
    About Acadian
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Acadian is a Halifax , Nova Scotia, Canada based mining company with five advanced gold projects, all of which host National Instrument 43-101 compliant resources. The Company also owns a zinc-lead mine (Scotia Mine) at Gays River, Nova Scotia, which is currently on care and maintenance. Acadian is actively exploring and developing its gold, zinc-lead, and barite properties in Atlantic Canada . Acadian holds a 29.18% interest in Royal Roads Corp. (RRO-TSX-V), which is actively exploring in Newfoundland and Labrador with a current focus on the historic Buchans Camp.

    
    Forward Looking Statement
    -------------------------

Certain information regarding Acadian contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Acadian believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Acadian cautions that actual performance will be affected by a number of factors, many of which are beyond Acadian's control, and that future events and results may vary substantially from what Acadian currently foresees. Discussion of the various factors that may affect future results is contained in Acadian's Annual Information Form dated March 31, 2009 , which is available at www.sedar.com. Acadian's forward-looking statements are expressly qualified in their entirety by this cautionary statement.

    
    Additional Information
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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 release

For further information: G. William Felderhof, President & CEO; Terry F. Coughlan, Vice President, (902) 444-7779, Toll Free: (877) 444-7774, [email protected]

Organization Profile

Acadian Mining Corporation