Cadan Resources Corp (fka CXD)

[Ferdlips]

Re: Colombia still in the cards but not the focus yet!
I recently sent Rennie an e-mail regarding the South American properties and the possibility of a joint venture. Here is his response for the loyal SUR shareholders.

Dear ...
Many thanks for your comments on our Colombian properties.

The big difference between us and Greystar is that they have spent close to $US 15million on drilling at their major project and have identified a low grade but quite large resource.

We are now deciding what to do with all our projects down there and in addition we have been granted another 10 or so new ones in Sur de Bolivar and Narino provinces. These applications would you believe were made in 1998! and were granted earlier this year. They are very prospective.

The projects are very good and so we must either get JV's or do it ourselves but I certainly do not want to create an impression that we are not focusing on the Philippines-which we are.

So at this stage its like having two companies in one.

Either way I do see an active Colombian program next year.

Cheers

Rennie