Cassidy Makes Significant New Gold Discovery in Guinea.

Business Editors

KAMLOOPS, British Columbia--(BUSINESS WIRE)--June 24, 2003

Cassidy Gold Corp. (TSX VENTURE:CDY) is pleased to announce the discovery of two gold-bearing quartz vein systems on its Kouroussa Property in Guinea, West Africa. Cassidy has the right to earn a 100% interest, subject to a 15% state participation. Six large-diameter "HQ" diamond drillholes (Table 1), totalling 519 metres, tested three structural targets on the Koe Koe South zone. The veins discovered represent only two of many targets identified by reconnaissance work completed on the property to date.

Prominent artisanal workings are found along a 500 metre linear, east-west trend interpreted to be the surface expression of the EW Vein. DDH KD-3 tested the EW Vein, intersecting 7.07 g Au/t over a true thickness of approximately 1.9 metres This vein appears to be subvertical and was intersected between 33.5 - 36.5 metres downhole in saprolite.

Three diamond drillholes, KD-4 to KD-6, tested the SW Vein, 250 to 550 metres south of the EW Vein. At surface, the SW Vein is marked by a northwest trending, 500-metre long trench up to 5 metres deep and 20 metres wide that was excavated by artisanal miners several centuries ago.

DDH KD-4 tested the centre of the SW Vein trend, intersecting 16.87 g Au/t over an estimated true width of 8.0 metres. This vein appears to be steeply dipping to the southwest. Significantly, this intersection is hosted by mafic metavolcanic and metasedimentary rocks, apparently of Birimian age. Birimian lithologies host most of the major gold deposits of West Africa including Obuasi, Sadiola, and Siguiri.

DDH KD-5 tested the SW Vein approximately 40 metres southeast of DDH KD-4, encountering an estimated true thickness of 3.52 metres grading 100.91 g Au/t, including a 0.69 metres true width interval that assayed 372.0 g Au/t, with check assays returning 416.2 g Au/t on the same pulp and 400.0 g Au/t Au on a second pulp.

DDH KD-6 was collared 100 metres southeast of KD-5, and intersected a 3.24 metre true thickness of SW Vein that assayed 9.16 g Au/t, also hosted in saprolite.

Diamond drillholes, KD-1 and KD-2, tested an area of extensive artisanal diggings approximately 500 metres northeast of the SW Vein. DDH KD-1 intersected 0.80 grams gold per tonne ("g Au/t") over 10.7 metres of laterite/saprolite material near the top of the drill hole. At depth, this hole encountered skarn-type mineralization that assayed 0.84 g Au/t over a 23.25 metre interval that included 2.7 metres grading 3.67 g Au/t. DDH KD-2 intersected 0.20 g Au/t over a vertical distance of 10.7 metres, including 4.6 metres that assayed 0.32 g Au/t.

All drill core was split and samples were sent to ABILAB Afrique de l'Ouest S.A.R.L. of Bamako, Mali for fire assay using a 50 gram subsample. High results were checked by reassaying the same pulp and a gravimetric finish was used on all samples assaying over 10 g Au/t and some assaying over 4 g Au/t. Several high values were checked by taking another split from the sample rejects and fire assaying with both an AAS and gravimetric finish.

Based on these results, additional diamond drilling to further evaluate the EW and SW Veins is planned. Several other east and northwest-trending structural trends defined by artisanal workings will also be tested. The 2000-metre reverse circulation (RC) drill program, originally planned for this June has been postponed due to the lack of available drills and the onset of the rainy season. This RC program will evaluate the gold potential in the saprolite underlying the Koe Koe and Sodyanfe soil geochemical anomalies.

The exploration team in Africa includes three geologists. Jean-Jacques Lefebvre, M.Sc., is a geologist with many years of experience exploring in Africa and was former Manager of Exploration at the nearby Lero/Karta Mine of Kenor ASA. Marthe Archambault, P.Geo., is the company's Independent Qualified Person as defined in National Instrument 43-101 - Standards for Disclosure for Mineral Projects. Christopher J. Wild, P.Eng., Cassidy Gold's Vice-President of Exploration is also a Qualified Person as per NI 43-101.

On behalf of the Board of Directors

Cassidy Gold Corp.

James T. Gillis, President

Please note: This press release may be accessed at Cassidy Gold Corp.'s website: www.cassidygold.com and at SEDAR-CDY

If you wish to be placed on Cassidy Gold Corp.'s e-mail press release list, please contact us at [e-mail]

Location map available at http://www2.cdn-news.com/database/fax/2000/0624cas.pdf

Table 1: Summary of Diamond Drilling Results

DDH
    From    To  Length  True      Au  Check Check Check Check  Reco-
                       Thickness gpt  Assay Assay Assay Assay   very
                                          1     2     3     4

KD-1
    3.50  18.60  15.10  10.68   0.80                           23.5%
   61.90  63.70   1.80   1.27   7.00                           83.3%
   96.60 119.85  23.25      ?   0.84                           86.0%
 including
  112.70 115.40   2.70      ?   3.67                           70.4%

KD-2
    0.00  15.30  15.30  10.72   0.20
 including
    3.30   9.90   6.60   4.63   0.32

KD-3
   32.00  33.50   1.50   0.96   1.17   1.54                   43.3%
   33.50  34.75   1.25   0.80  10.20     -  13.97             24.0%
   34.75  35.05   0.30   0.19   6.20     -   8.20             83.3%
   35.05  36.50   1.45   0.93   4.56         8.30 20.00 14.40 41.4%
   33.50  36.50   3.00   1.93   7.07                          38.3%
   36.50  45.50   9.00   5.79   0.34                          88.3%

KD-4
   59.60  59.80   0.20   0.11 173.00           -     - 184.40
   59.80  61.00   1.20   0.68  93.00           -     -  77.03
   61.00  62.00   1.00   0.57   0.47           -   0.48    -
   62.00  63.00   1.00   0.57   3.10           -   2.80    -
   63.00  64.00   1.00   0.57  16.50         9.00    -  21.80
   64.00  65.00   1.00   0.57   0.33           -     -     -
   65.00  65.30   0.30   0.17   0.26           -     -     -
   65.30  65.70   0.40   0.23   0.28           -     -     -
   65.70  66.60   0.90   0.51  47.00           -     -  39.43
   66.60  67.60   1.00   0.57   0.19           -   0.15    -
   67.60  68.60   1.00   0.57   0.03           -     -     -
   68.60  69.60   1.00   0.57   8.80           -     -  13.53
   69.60  70.60   1.00   0.57  12.50           -     -  19.33
   70.60  71.55   0.95   0.54   2.74           -   1.16    -
   71.55  72.30   0.75   0.42   1.39           -   1.36    -
   72.30  73.80   1.50   0.85   3.55           -   2.86    -
   59.60  73.80  14.20   8.04  16.87                           99.6%

KD-5
   36.70  38.15   1.45   1.16   5.80   5.90    -               38.5%
   38.15  39.30   1.15   0.92 372.00     - 416.20      400
   39.30  41.10   1.80   1.44   4.34     -   5.07              55.6%
   36.70  41.10   4.40   3.51 100.91                           45.5%

KD-6
   24.40  25.90   1.50   1.02  10.40     -  11.57              33.3%
   25.90  27.15   1.25   0.85   6.00     -   4.57              72.0%
   27.15  29.15   2.00   1.36  10.20     -  17.77              40.0%
   29.15  30.40   1.25   0.85   1.08   0.65    -               56.0%
   24.40  29.15   4.75   3.24   9.16                           46.3%

Check Assay 1: reassay on same pulp with AAS finish
Check Assay 2: reassay on same pulp with gravimetric finish
Check Assay 3: check assay on new pulp with AAS finish
Check Assay 4: check assay on new pulp with gravimetric finish

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.