Cadillac Ventures Inc. Enters into Option Agreement for the Burnt Hill Tungsten Project in New Brunswick

Core Points - Cadillac Ventures Inc. has entered into an option agreement with Nexcel Metals Corp. and Wyloo Ring of Fire Ltd. for a potential 58% interest in the Burnt Hill Tungsten Project located in New Brunswick, Canada [1][4] Agreement Terms - The Optionee can acquire the 58% interest in four stages, starting with a payment of $170,000 in cash and issuing $330,000 in common shares [2] - The first option allows the Optionee to earn up to 29.6% interest, followed by additional payments and share issuances to reach 38.3%, 46.4%, and finally 58% [2] - All common shares issued will be subject to statutory hold periods and voluntary resale restrictions over a 36-month period [3] Joint Venture Formation - Upon earning a 51% interest, a joint venture will be established among the Optionee, Cadillac, and the Minority Owner, with the latter's 42% interest remaining unaffected unless a future acquisition is agreed upon [4]