Acadian Mining Corporation Announces Private Placement

5 advanced properties with NI 43-101 resources of 1.7 MM oz. of gold

Recent Drill Results: 2.03 g/T over 106.8 metres, including 2.81 g/T over 72.9 metres

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Acadian Mining Corporation Announces Private Placement

posted on Aug 18, 2008 11:28AM

Trading Symbol: ADA:TSX; C2Z-Frankfurt

Shares Outstanding: 142,357,907

HALIFAX, Aug. 14 /CNW/ - Acadian Mining Corporation (TSX: ADA) ("Acadian" or the "Corporation") has agreed to sell by private placement 6,000,000 common shares ("Common Shares") at $0.25 per Common Share and 5,000,000 flow-through common shares ("Flow-Through Shares") at $0.30 per Flow-Through Share for aggregate gross proceeds of $3,000,000, closing in two tranches on August 20, 2008 and September 1, 2008 (the "Offering").

Desjardins Securities Inc. will be entitled to receive a finder's fee equal to 6% of the gross proceeds of the Offering and 220,000 broker's warrants ("Broker's Warrants"). Each Broker's Warrant will entitle the holder to acquire one Common Share at $0.30 per Common Share within 12 months of the closing.

Acadian will use the proceeds from the private placement of the Flow-Through Shares to advance the Beaver Dam, Tangier, Goldenville, Forest Hill and Fifteen Mile Stream properties and for zinc prospects. Proceeds from the Common Shares will be used for general corporate purposes.