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Vancouver, BC / TheNewswire / October 28, 2015 - Cadan Resources Corporation ("Cadan" or the "Company") is pleased to announce that it has closed the final tranche of it s previously announced non-brokered private placement. The Company has raised an additional $2,196,000 through the issuance of 43,920,000 units of the Company (the "Units") at a price of $0.05 per Unit to a single cornerstone investor. Each Unit consists of one common share of the Company and one common share purchase warrant exercisable into an additional common share of the Company for a period of one year from the issuance date at an exercise price of $0.10. The shares, warrants and any shares acquired on exercise of the warrants will be subject to a four month hold from the date of closing of the private placement. The closing of this final tranche brings the total raised in this private placement to $3,685,601. The investor has extensive Philippine experience and has well established relationships within the mining industry.

The funds raised from the private placement will be applied towards ongoing requirements to recommence mining at the Company's T'Boli mine, as well as for general working capital.

On Behalf of the Board,

Peter Main

Acting President and CEO

For further information

Visit our website at www.cadanresources.com ; email us at info@cadanresources.com , or

contact: Peter Main, Ph: +61 2 9449 1112, email: petermain@hotmail.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Vancouver BC V6C3P6

Phone: 778-370-1372 Fax: 604-608-5442

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