Cadiscor Takes Over the Sleeping Giant Mine

Cadiscor Resources Inc. ("Cadiscor") (TSX VENTURE:CAO)(FRANKFURT:DQN) is pleased
to announce that on October 31, 2008, it completed the acquisition of a 100%
interest in the Sleeping Giant Mine, including related milling facilities ("the
Mine") and all mining equipment, from IAMGOLD-Quebec Management Inc.
("IAMGOLD").


On December 11, 2007, Cadiscor made a cash payment of CAN $300,000 and issued
600,000 common shares and 1,000,000 warrants to IAMGOLD. Each warrant entitles
the holder to purchase one common share of Cadiscor for $0.70 up until December
31, 2010.


Cadiscor paid IAMGOLD an amount of CAN $5,000,000 through the issuance of
4,285,715 common shares at $0.35/share for a total of $1.5 million and a $3.5
million unsecured convertible debenture bearing interest at 5%. The interest
will be paid yearly, in advance. This three-year debenture is convertible by
IAMGOLD into Cadiscor shares at a conversion price of $0.47/share the first
year, $0.51/share the second year and $0.56/share the third year.  Cadiscor may
buy back the debenture for cash at any time. Cadiscor can force conversion
should the shares trade at a price that is at least 15% higher than the
appropriate annual conversion price premium for a twenty-day trading period.


The remaining terms of the original agreement (see December 11, 2007 press
release) remain in effect.


Michel Bouchard stated: "This acquisition is an important step in Cadiscor's
corporate strategy to become a gold producer.  Our mine exploration program was
very successful, as evidenced by the 16 months of reserves in the Mine and the
identified additional resources.  It is a good start and we will continue to
invest in finding more ore.  The gold zones are open and we will look into once
again deepening the mine shaft, as previous operators did twice in the last
twenty years. The 900 tpd Mill could also eventually be used to mill ore from
the Discovery project.  Our first priority is to redevelop the Sleeping Giant
Mine, with a goal of putting it back into production in 2009."


The Company is in discussions with several parties to secure debt financing for
Mine development.  Cadiscor is confident of obtaining the debt financing.


In a 43-101 report dated September 23, 2008, GENIVAR, an independent consultant
firm, recommended that Cadiscor start the Mine development.  The identified
mineral reserves represent 16 months of future production and could generate a
net operating profit of $16 million at a gold price of CAN $850 per ounce.   If
all resources are converted to reserves, they would represent 17 additional
months of production.  The annual production target is 52,000 ounces of gold. 
The estimated time required to restart the Mill is six months after Mine
development begins.


In November, Cadiscor will be busy hiring key personnel and employees,
completing the Mine development plan and securing the financing.


Mr. Vincent Jourdain, P.Eng., Ph.D, is the qualified person as defined by 43-101
Regulation and has over 20 years of experience in mineral exploration.  Mr.
Jourdain has approved the content of this press release.


Forward-Looking Statements

This press release contains forward-looking statements subject to certain risks
and uncertainties. There can be no assurance that these statements will prove to
be correct, and actual results and future events could differ materially from
those implied by such statements. These risks and uncertainties are discussed in
the annual report filed with the securities commissions of Alberta, British
Columbia and Quebec, and in the 10-KSB annual report filed with the US
Securities and Exchange Commission.

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