Mr. Robert Butchart reports

CADAN ENTERS INTO DEED OF SETTLEMENT

Cadan Resources Corp. has entered into a deed of settlement and release with one of its Philippine affiliated companies and an Australian company to settle an arbitration proceeding commenced in December, 2011, relating to a dispute over $722,073 of fees for technical services.

Pursuant to the deed of settlement, the company agreed to issue two million common shares and pay $100,000 (Australian) to the Australian company to settle the dispute. The issuance of the common shares is subject to TSX Venture Exchange acceptance.

We seek Safe Harbor.