Cadan Resources Corporation has entered into an agreement with Mighty River International Ltd. of Singapore, whereby Mighty River is providing the company with a $5 million loan facility. The facility may be drawn down in increments of $1 million, with an initial draw of $1 million having been made at the time of signing. Amounts drawn bear interest at a rate of 8% per annum and are repayable in 12 months from the draw date. The company has six months to make further draws on the loan facility, with the availability of each future draw being subject to certain conditions being met. Cadan has agreed to provide the lender with security over its assets, with the form of security to be negotiated and settled within 15 days. In connection with the loan agreement, Cadan, Mighty River, and Cadan's Philippine affiliate, Tribal Mining Corporation, will enter into royalty agreements pursuant to which Mighty River will be entitled to receive a 1% production royalty on the T'Boli Mine located in the Philippines for each $1 mill advanced to Cadan.

Cadan Resources Corporation filed its Annual on Apr 09, 2013 for the period ending Dec 31, 2012. In this report its auditor, Smythe Ratcliffe, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Cadan Resources Corporation announced that it has filed an updated NI 43-101 technical report titled ‘Technical Report on T'Boli Gold and Silver Project, South Cotabato, Mindanao, Phillipines’ dated effective October 1, 2012. The Inferred Mineral Resource was calculated in accordance with the CIM Standards of Disclosure for Mineral Resources and Mineral Reserves 2010 and NI 43-101. The T'Boli project is situated approximately 130 km southwest of Davao City, and 40 km west-northwest of General Santos City, in the Province of South Cotabato, Mindanao Island, Republic of the Philippines. Tribal Mining Corporation (TMC) is the legal owner of licenses covering the T'Boli project, and Cadan holds a 40% direct interest in TMC, as well as rights in the project pursuant to a mineral processing option agreement with TMC. The mineral processing option agreement provides Cadan with an exclusive right to process ore from the TMC mineral areas, consisting of 84.98 hectares under MPSA No. 090-97-X1 and 2,908.24 hectares under APSA No. 51-X1. The T'Boli project consists of a historical underground mine and a new processing plant constructed by Cadan. Work on the project, by Cadan, has included the rehabilitation of an underground mining tunnel known as the Beehive Adit and decline, accessed through the Mafoko portal. This work has exposed the North and South vein sets for channel sampling and mapping of the underground workings, with face channel samples being undertaken every two meters. Sampling has also been undertaken on both walls of the decline, taking samples every one meter along the wall. Underground exploration development work along vein including winzes and raises can now be utilized for stope preparation. This has resulted in significant saving in capital expenditure and time to production as `Cut and Fill' stopes became available for production within the fourth quarter of 2012 and are expected to generate 100 to 200 tonnes per day (tpd) throughout 2013 as required by the processing plant. ‘Incidental ore’, grading a nominal 2-4 g/t Au, has been stockpiled and is immediately available to provide feed to the company's mineral processing plant. To date the processing plant has averaged approximately 40 tpd and will require additional capital expenditure to meet expected production rates of 100-200 tpd. The underground diamond drilling program, commenced in March 2012, was reviewed in the fourth quarter of 2012 and will be extended into 2013. To date, the drilling has been only selectively sampled and these results were used to provide the updated NI 43-101 technical report. The company does however plan to more extensively sample the existing drill core to ensure that lower-grade mineralization envelopes will also be defined, and a further updated NI 43-101 technical report is anticipated to be prepared in 2013. The Inferred Mineral Resource was estimated using a wireframe model constructed from the basis of a 1g/t Au lower cut off grade, an in-situ bulk density of 2.5g/cm3, and a moisture content of 6%. The maximum search distance was 70m to create an informed grade within the three-dimensional block model.