KAMLOOPS, BRITISH COLUMBIA--(CCNMatthews - March 30, 2006) - Cassidy Gold Corp. (the "Company") (TSX VENTURE:CDY) is pleased to announce that it has completed a brokered private placement consisting of 8,333,333 common shares of the Company ("Shares"), together with a non-brokered private placement consisting of 500,000 Shares of the Company, at a price of C$0.60 per Share for aggregate gross proceeds of C$5,299,999.80. Jennings Capital Inc. ("Jennings Capital") was retained by the Company to act as lead agent (the "Agent") in connection with the brokered placement. Jennings Capital elected to exercise the Over Allotment Option ("Greenshoe") to sell up to 4,166,667 Shares for an additional $2,500,000 at a price of $0.60 per Unit and this amount is included in the aggregate gross proceeds. The Shares are subject to a four month hold period expiring July 31, 2006.
The net proceeds of the placement will to be used for the continued exploration of the Kouroussa Project in Guinea, West Africa and for general corporate purposes.
The Company has paid the Agent a cash commission of 6% of the gross proceeds of the brokered private placement and issued broker warrants entitling the Agent to purchase up to 500,000 common shares of the Company exercisable at a price of C$0.60 per common share until March 30, 2008.
Cassidy Gold Corp. is a gold exploration and development company listed on the TSX Venture Exchange (symbol CDY). Cassidy's principal asset is its 100% interest, subject to a 15% State participation, in the Kouroussa and Siguiri gold properties in Guinea, West Africa.
On behalf of the Board of Directors
Cassidy Gold Corp.
James T. Gillis, President
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Cassidy Gold Corp.
(250) 828-2269 (FAX)