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November 3, 2008 Cadiscor Takes Over the Sleeping Giant Mine MONTREAL, QUEBEC--(Marketwire - Nov. 3, 2008) - 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 Cadiscors 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. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CONTACT INFORMATION: Cadiscor Resources Inc. Michel Bouchard President 450-449-0066 / 1-877-440-0066 or Cadiscor Resources Inc. Linda Plante Investor Relations 450-449-0066 / 1-877-440-0066 www.cadiscor.com or 314 Finance Corp. Tasso Baras Investor Relations 604-738-3882 INDUSTRY: Manufacturing and Production - Mining and Metals