Yes.
I'd guess that you position the fan opposite the CPU cooler fan, and that the CPU cooler is a traditional (stock or similar) cooler? Because that way, you can have the side fan assist the CPU fan in transporting the hot air from the CPU out of the case (side fan set to exhaust), or you can set it up so that it works hard to keep the hot air IN the case (side fan set to intake). The latter would probably make a lot of noise.