Acadian completed the initial closing of the Second Tranche on July 9, 2009, issuing 46,666,166 common shares for proceeds of approximately $1.4 million and the second closing of the Second Tranche on July 15, 2009, issuing 53,352,120 common shares for proceeds of approximately $1.6 million. On the Third Closing, Acadian issued 33,332,833 common shares for proceeds of approximately $1 million.

The Company also announced that Stacy Stone, Chartered Accountant, has been appointed the Chief Financial Officer of the Company, effective August 1, 2009. Ms. Stone is currently the Chief Financial Officer of Royal Roads Corp. (RRO-TSX-V).

A first phase diamond drilling program scheduled to commence on or about July 20, 2009 at the Fifteen Mile Stream gold property has been postponed pending finalization of new computer generated working plans and negotiation of surface access agreements to certain areas of the property. It is anticipated that drilling could commence by late August.