Gold Exploration in West Africa

[FL]

O Cassidy! 11.28m@10.34g/t and 16.45@17.58 are good, but then like clockwork there's a dilution, with 3 million "units" privately placed at C0.60/unit: 1 share plus 1/2-share warrant exercisable at C0.70/sh, both lower than the market price of C0.80-plus.

It looks as though the warrants can be exercised immediately. So the "placees" can buy C1.20 worth of CDY.V today for C0.95. (That's one and a half shares at C0.60 for the unit plus C0.35 for exercising the half-share warrant, today's market price being C0.80/share.)

A Vancouver company...

Here's the announcement:

FL

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Mon Feb 28, 2005
Non-Brokered Private Placement
Cassidy Gold Corp. has closed a non-brokered private placement with one investor for 3,000,000 Units at a price of $0.60 per Unit. Each Unit consists of one (1) common share and one-half (1/2) of one (1) non-transferable share purchase warrant and each whole share purchase warrant will entitle the holder to purchase one (1) additional common share at an exercise price of $0.70 per share for a period of one year from the closing date of the placement. Shares acquired by the placee are subject to a hold period and may not be traded until June 25, 2005, except as permitted by the BC Securities Act and regulations made thereunder.

A finder's fee will be paid in connection with this placement consisting of $100,000 cash and a share purchase warrant entitling the holder to purchase up to 100,000 common shares at a price of $0.70 per share for a period of one year from the closing date of the placement.

The proceeds of the placement will be used to further the exploration of the Company's projects in Guinea, West Africa and for general working capital.

On behalf of the Board of Directors
Cassidy Gold Corp.
James T. Gillis
James T. Gillis, President

For further information please contact:
Jim Gillis, President - Phone: [phone] or Fax: [phone]

This press release may be accessed at Cassidy Gold Corp.'s website: www.cassidygold.com and at SEDAR-CDY

If you wish to be placed on Cassidy Gold Corp.'s e-mail press release list, please contact us at [e-mail]

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.