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Lone Clone

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Re: Lone Clone post# 5763

Thursday, 05/24/2007 9:15:12 AM

Thursday, May 24, 2007 9:15:12 AM

Post# of 12714
Cash Minerals Begins Construction of Lumina and Bear River Camps
Thursday May 24, 8:59 am ET

http://biz.yahoo.com/ccn/070524/200705240392591001.html?.v=1

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 24, 2007) - Cash Minerals Ltd. (TSX VENTURE:CHX - News) today announced that construction crews have begun building the Lumina and Bear River camps. Management expects the Lumina camp to be ready for drilling (with two rigs) in early June. In the 2006 drill program, 19 of the 22 holes drilled at the Lumina property intersected uranium mineralization, which included 55.01 m of 0.103% U3O8, 11.87 m of 0.116% U3O8 and 16.44 m of 0.140% U3O8. In addition to producing appreciable uranium mineralization, these intersections were close to surface (less than 90 metres). Following an airborne radiometric survey over Lumina last year, a further 90 uranium anomalies were identified on the property. A number of these anomalies will be tested this drill season. The second camp, Bear River, will be used as a staging area for drill programs being conducted at the Vic, Bonnie, Win and Angel properties.

"A key objective in 2007 is to determine a resource estimate at the Lumina uranium property, and I believe with the exploration program outlined for the property, we are in a good position to achieve this objective," stated Basil Botha, President and CEO of Cash Minerals Ltd. "Given last year's results and subsequent radiometric work, the Lumina property is a highly prospective target, and there is a great deal of excitement as we move into this new phase of exploration."

Construction of the Igor camp is set to commence in mid June, with two rigs scheduled to begin drilling shortly thereafter. The Igor property is an IOCG-U (iron-oxide copper-gold uranium) target, which has produced mineralized intersections (74.44 metres 0.07% U3O8 and 1.88% copper) comparable to those of the world-class Olympic Dam deposit in Australia. Earlier this year, Cash Minerals announced the results of extensive ground geophysical work conducted on the Igor property in 2006, which delineated an appreciable, positive gravity anomaly projecting south and to depth from known U3O8 and copper mineralization. This anomaly, together with an existing area of known copper-uranium mineralization, will be tested this year.

"Cash Minerals' ability to execute a program of this scale continues to demonstrate the on-going essential application of science that has been integrated into the Wernecke program by our highly specialized geological team," continued Basil Botha. "Together with a $15 million program, a proven ability to carry out expanded exploration operations and the recently announced planned addition of the strategic properties to be acquired from Signet Minerals, Cash Minerals is well positioned to uncover the true potential of the Wernecke Uranium District properties in 2007."

Drilling on the Odie property continues with more than 1,900 metres of the planned 2,400 metres completed in phase one of the exploration campaign. Further drilling is expected to be undertaken to follow up on the previously released intersections of native copper in hole 2007-OD-01R.

About Cash Minerals

Cash Minerals (www.cashminerals.com) is an emerging publicly listed energy company focused on uranium, coal and alternative fuels (synfuels). Under an agreement with Mega Uranium Ltd., Cash Minerals has the option to earn a 75% interest in uranium projects located in various parts of the Yukon. These highly prospective projects include numerous iron-oxide copper-gold (IOCG), structurally-controlled hydrothermal uranium targets.

The Company is also engaged in exploring and developing coal properties in southwest Yukon Territory. The Company's Division Mountain project has a measured resource of 52.5 million tonnes of high Volatile "B" Bituminous coal (see NI 43-101 report dated December 21, 2005), which occupies less than five percent of Cash Minerals' total coal leases in the Yukon. The potential exists to provide this coal as feedstock for a mine-mouth power station. Cash Minerals is also pursuing the development of a coal mine in China that would provide feedstock to an adjacent coal-to-liquids (CTL) plant, which would utilize the Fischer-Tropsch process to convert coal into clean-burning fuel.

Should you wish to receive Company news via email, please email shosein@cashminerals.com and specify "CHX News" in the subject line.

Cautionary Note Regarding Forward-Looking Information This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the future financial or operating performance of the Company, its subsidiaries and its projects, statements regarding exploration prospects, the identification of mineral reserves and resources, costs of and capital for exploration projects, exploration expenditures, timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, and limitations of insurance coverage. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company (and the company resulting from the successful completion of the proposed transaction) to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


Contact:

Basil Botha
Cash Minerals Ltd.
President & CEO
(604) 633-9942
(604) 633-9972 (FAX)
Email: bbotha@cashminerals.com

Peter Arendt
Cash Minerals Ltd.
Vice President
(604) 633-9942
(604) 633-9972 (FAX)
Email: parendt@cashminerals.com
Website: www.cashminerals.com

Source: Cash Minerals Ltd.
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