SmallCapMedia.com - Gold - Oil - Diamond

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Cassidy's "flagship" 647-square-kilometre Kouroussa Property shares the same type of rock assemblage, the Birimian, hosts virtually all of the gold mines in West Africa. All of Cassidy's Guinea properties benefit from easy access to the supply center in the nation's capital, Conakry. A paved highway crosses the Kouroussa Property and eases logistics.

To date drilling during 2003 and 2004 has identified and outlined the Sanu Filanan and JJ zones which are the subject of a resource calculation due to be completed in compliance with N.I. 43-101 by early in 2005.

The presence of other compelling targets elsewhere on Cassidy's extensive land holdings offers plenty of "blue sky" potential and Cassidy expects to complete at least another 20,000 metres of drilling from now until June 2005.

The Sanu Filanan zone has seen the most exploration work to date. Exploration highlights from a total of 60 drill holes totaling more than 9,128 metres at the Sanu Filanan Vein include "bonanza" grades running as high as 100 grams per tonne (g/t) of gold over a width of 3.5 metres. Other impressive but perhaps more representative values include 16.97 g/t over 8.0 metres, 5.92 g/t over 23.33 metres and 6.21 g/t over 13.22 metres. Encouraging values have been encountered to a depth of at least 200 metres, demonstrating that this promising gold deposit is "open" (continuous) at depth.

The JJ zone is located 400 meters northeast of the Sanu Filanan Vein. It is also open along its strike length and at depth. Highlights of 14 holes totaling 2037 metres include 12.87 g/t over 4.2 metres and 21.57 g/t over 6.28 metres true width.

The X-Vein, located 3.5 kilometres to the north-northwest of the Sanu Filanan deposit, has seen 7 diamond drill holes totaling 986 metres which have succeeded in partially defining a vein which is at least 650 metres long and open in all directions. The X-Vein drilling was highlighted by a bonanza grade of 151.8 g/t of gold over a two-metre intersection. The associated gold-in-soil anomaly covers an area of 1,750 meters by 800 metres.

Cassidy has several other prospects on the Kouroussa Property as well. The nearby ones include the Sodyanfe Gold Zone, which is about one kilometre to the northwest of the Sanu Filanan and JJ veins. This gold-in-soil anomaly has been extensively sampled, returning an average grade of 0.49 g/t gold over an area some 600 by 600 metres.

Another prospective target is the Mani Zone located five kilometres north of the X-Vein. To date, a 600 metre by 1,000 metre mineralized zone, which is still open, has been identified by way of extensive gold-in-soil sampling. Like the others, this prospect is also scheduled for drill testing during the winter months.

At the adjoining Tambiko Project, the company plans to conduct follow-up analysis of previously identified gold-in-soil anomalies, including artisanal workings, to prioritize drill targets.

Cassidy also can earn a 100% interest in the Siguiri Project area, which consists of a 191-square-kilometre land package 100 kilometres northeast of the Kouroussa Property in a geologically very prospective gold camp that is just south of AngloGold Ashanti's Siguiri Gold Mine.

The company has approximately 38.3 million shares outstanding (46.8 million fully diluted), which permits good day-to-day liquidity in trading volumes. On a particularly encouraging note, the company share price has been trending upwards in recent weeks following an industry-wide, summer-long slump. SmallCapMedia believes that encouraging drill results will be learned this winter and will propel Cassidy's share price higher.

Cassidy Gold Corp. is well funded and well managed by a highly qualified and experienced team of mining engineers, geologists and executives.

In summary, Cassidy Gold Corp. is on the fast track to developing a gold resource in Guinea this winter. The projects to be carried out should generate wide interest and add considerable value to the company to effect a rising share price. Based on the facts known about the Sanu Filanan and JJ veins, SmallCapMedia speculates that they alone may have the potential to host between 500,000 and one million ounces of gold. This gold inventory would appear to be amenable to low-cost extraction. The presence of a number of other prospective gold targets on the Kouroussa Property could easily expand upon the company's preliminary gold resource calculations.

Guinea offers a combination of security of land tenure, low mining taxes and a very favorable regulatory environment in a politically stable, "mining friendly" African nation. Accordingly, SmallCapMedia believes that these combined dynamics will make Cassidy a strong market performer during 2005 and beyond.