Exhibit 99.1

For Immediate Release
September 30, 2003

                Cadence Announces Completion of Private Placement

Walla Walla,  WA - Cadence  Resources  Corporation  (OTC-BB:CDNR)  is pleased to
announce  it  has  successfully   completed  a  brokered  private  placement  of
approximately  4.0 million  dollars  which  closed on September  30,  2003.  The
placement was sold to certain independent institutional investors

Investors  subscribed  for 1,566,400  shares of the Company's  common stock at a
price of $2.50 per share for gross  proceeds  of  $3,916,000.  The  shares  bear
registration  rights,  and the Company intends to file a registration  statement
covering the shares as soon as possible.  The net proceeds  will be used to fund
the  Company's  working  interest in its rapidly  advancing  natural gas project
located in De Soto  Parish,  Louisiana,  to repay  loans made to the  Company by
certain entities, shareholders, executive officers, and directors of the Company
and for working capital. The project is a joint venture with Bridas Energy USA.

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.

For further information,  please contact Howard Crosby at (509) 526-3491 or John
Ryan at (843) 682-2023.