FOR IMMEDIATE RELEASE
JULY 17, 2003

CADENCE ANNOUNCES SUCCESSFUL RESULTS OF FIRST WELL ON DE SOTO PARISH PROPERTY

WALLA WALLA, WA - Cadence Resources Corp (OTCBB: CDNR) announced today
successful results obtained from drilling and logging of its first well in De
Soto Parish, Louisiana. The project is a joint venture between Cadence and
Bridas Energy USA. The well, the Ardis-Martin Timber Co. #1, was drilled to a
total depth of 10,262 feet targeting multiple pay zones in the Hosston and
Cotton Valley sands. Results of the well logs indicate that there are 107 feet
of pay in the Cotton Valley and 186 feet of pay in the Hosston sand formations.

Commented Howard Crosby, President of Cadence, "We are extremely pleased with
the results of this first well and look forward to drilling a second well on the
property. We expect to begin this process within seven to ten days. This initial
well confirms the belief of our geologists that the very significant gas
reserves developed in wells immediately to our north and northeast in the
Bethany-Longstreet field continue onto Cadence's acreage. Having now validated
our geologic thesis, we have more than thirty similar targets to test within the
contiguous land package of the Cadence-Bridas joint venture. In sum, this
property truly has the potential of being a company making asset."

The terms of the joint venture with Bridas Energy USA are to drill this first
well on the property, carrying Cadence for a 25% working interest. On subsequent
wells within the 640 acre section containing the first well, the Company will
earn a 25% percent working interest by funding 25% of the drilling, completion,
and facilitation expenses. On other wells outside of the original 640-acre
section, the Company will earn a 45% working interest by funding 45% of the
expenses. On average, the leaseholds the Company controls carry an approximate
80% net revenue interest. The joint venture controls approximately 3800
contiguous acres in the area.

Bridas Energy USA, based in Houston, has operations in the Texas-Louisiana Gulf
Coast Area. Bridas Energy USA is a wholly owned subsidiary of Bridas
Corporation, a BVI corporation with its head offices in Buenos Aires, Argentina.
Bridas Corporation's worldwide activities include operations in all areas of
energy production including exploration, production, transportation, storage,
and shipment, as well as power generation. Cadence Resources is an oil and gas
exploration company based in Walla Walla, Washington with development activities
in Louisiana, Texas, and Michigan.

Certain statements contained herein may contain forward-looking statements that
involve risks and uncertainties. Therefore, actual results may differ materially
from those projected or implied. As a result, these forward-looking statements
represent the Company's best judgment as of the date of this news release.

Contacts:     Howard Crosby (509) 526-3491 or John Ryan (843) 682-2023