Cadillac Issues Update on Spanish Joint Venture and Announces Director Change

TORONTO, ONTARIO, Jul 07 (MARKET WIRE) --
Cadillac Ventures Inc. (TSX VENTURE: CDC) ("Cadillac" or the "Company")
is pleased to announce that a review of the prospects comprising the
Joint Venture with Minas de Aguas Tenidas, S.A.U. ("MATSA"), a 100%
subsidiary of Iberian Minerals Corp. (TSX VENTURE: IZN) which owns the
Aguas Tenidas site located in Huelva province in Southern Spain, has been
completed. The Joint Venture was originally announced on December 17,
2008.

The Joint Venture property includes a number of properties that have had
some level of past exploration carried out, ranging from small shafts
within outcropping gossan zones to open pit operations of various sizes.
In addition to reviewing historical information available from private
and government sources regarding these properties, Cadillac has acquired
a large data package of geophysical surveys over an area having a strike
length of 55 kilometers and covering the area of the Joint Venture
property. This material is presently being reprocessed by the Company. It
is anticipated that the resultant information will provide guidance for
ground geophysical surveys to be carried out during July through August.

Based upon the review of historical information to date, Cadillac has
identified three properties (La Majada, Angelita and Chaparita) as
immediate diamond drilling targets. The Company intends to commence
exploration on these properties as soon as permitting and application
protocols allow, which is expected to be in September. Both the La Majada
and Angelita properties have been previously drilled, and while
historical tonnages of mineralization are present, the estimates are not
National Instrument 43-101 compliant for either property. As such, as a
qualified person has not done sufficient work to classify the historical
estimate as current mineral resources, Cadillac is not treating the
historical estimate as current mineral resources and the historical
estimate should not be relied upon.

No historical drilling activity has occurred on the Chaparita property
although a small open pit was previously operated.

Historical diamond drilling on the La Majada property carried out by
Riomin Iberica between 1998 and 2001 has shown the presence of widespread
VMS mineralization over a length of 750 meters with one historical hole,
MAD-9, returning values of 0.33% Cu., 1.43% Pb., 7.8% Zn., 35.8 gpt Ag.,
and 0.84 gpt Au over a drill length 21.3 meters and occurring at a depth
of 650 meters. Untested outcropping gossan zones occurring west of this
historically drilled mineralization may indicate the occurrence of
additional mineralization. Cadillac proposes to drill 3 holes on this
property, in the area of the historical mineralization. Cadillac has not
confirmed these drilling results but based on the technical competence of
the operator and the quality of the data that has been reviewed, believes
that they are of merit.

The Angelita property is part of the Cueva Del Mora group, and was mined
between 1906 and 1925 by Huelva Copper where there is reported historical
production of 0.6 million tons grading 6% Cu. Angelita has a historical,
non-compliant, partially delineated resource evaluation done by Phelps
Dodge in 1983 of 0.4 million tons grading 2.98 % Cu and a further 0.3
million tons grading 0.5% Cu. and 15.2% Pb, as well as the presence of
Zn. A gravity anomaly is associated with the prospect, which management
feels may be indicative of additional mineralization along strike. These
historical resources were reported by entities that Cadillac believes
were technically competent, however these resources were evaluated prior
to the implementation of NI 43-101 and are not compliant. As a qualified
person has not done sufficient work to classify the historical estimate
as current mineral resources, Cadillac is not treating the historical
estimate as current mineral resources and the historical estimate should
not be relied upon. Cadillac expects to be conducting detailed work to
prepare a NI 43-101 compliant resource estimate.

Chaparita is a property upon which a small open pit was operated by Minas
De Cobre de Nerva in the early 1900s. Historical operating records
indicate a total of 70,000 tonnes were mined of which 10,000 tonnes had a
reported grade of 12% Cu during that period. Visible polymetallic massive
sulfide mineralization is present in the floor and walls of the pit and a
geophysical induced polarization anomaly is associated with the
mineralization. Management feels that this property warrants drill
testing in order to investigate the scope and extent of the visible
surface mineralization.

"Cadillac is pleased to be commencing operations on our joint venture
property located in the Iberian Pyrite Belt of southwestern Spain. This
area is one of the most intensely mineralized on the planet, and has been
a productive mining region for thousands of years. It is once again an
active mining district." stated Norman Brewster P.Geo, President and CEO
of Cadillac. Mr. Brewster has been active in the Iberian Pyrite Belt for
approximately 5 years, having developed the re-opening, of the Aguas
Tenidas Mine, wholly-owned by Iberian Minerals Corp., of which Mr.
Brewster is also non-executive Chairman.

In addition, Cadillac would like to announce that Mr. Jim Voisin has
resigned from the Board of Cadillac due to time constraints from his
other professional activities. Cadillac would like to thank Mr. Voisin
for his contribution and recognize his role as the first President of
Cadillac. Going forward, Mr. Voisin will be available to consult with
Cadillac as required.

About Cadillac

Cadillac is a development focused exploration Company which has two
Canadian exploration projects, located in regions that have been
historically active, and exploration projects in Spain and Argentina.

The New Alger project located outside of Cadillac, Quebec is
wholly-owned, previously producing gold mine, where the Company has
commenced a long term drill program designed to identify the scope of
mineralization present on the Company's property. The Burnt Hill Project
is 51% owned tungsten tin project located outside of Fredericton, New
Brunswick. In Spain, the Company is joint venture partner with Minas de
Aguas Tenidas, S.A.U. regarding the exploration of a number of high
potential properties surrounding the Aguas Tenidas Mine. In Argentina,
the Company is currently party to a heads of agreement with Latin
American Minerals Inc for a joint venture regarding the Tendal VMS
project, La Rioja Province.

Mike Newbury P.Eng is the Qualified Person who has reviewed the technical
information in this news release on behalf of the Company.

Forward Looking Statements

This news release may contain certain forward-looking statements under
applicable securities laws. All statements, other than statements of
historical fact, are forward looking. Forward-looking statements are
frequently identified by such words as "may", "will", "plan", "expect",
"believe", "anticipate", "estimate", "intend" and similar words referring
to future events and results. Forward-looking statements are based on the
current opinions and expectations of management. All forward-looking
information is inherently uncertain and subject to a variety of
assumptions, risks and uncertainties, including the speculative nature of
mineral exploration and development, fluctuating commodity prices, the
risks of obtaining necessary licences and permits and the availability of
financing, as described in more detail in the Company's securities
filings available at www.sedar.com. Actual events or results may differ
materially from those projected in the forward-looking statements and the
reader is cautioned against placing undue reliance thereon. Cadillac
assumes no obligation to revise or update these forward-looking
statements except as required by law. All dollar amounts are in Canadian
dollars unless otherwise noted.

Neither 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.

Contacts:
Cadillac Ventures Inc.
Norman Brewster
President and Chief Executive Officer
416-203-7722
www.cadillacventures.com

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