Cash Minerals Updates Exploration Program at Igor Property
Wednesday August 30, 11:50 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 30, 2006) - Cash Minerals Ltd. (TSX VENTURE:CHX - News) today announced that the first drill core from 2006 exploration drilling at the Igor property has been delivered to ALS Chemex (ALS) in North Vancouver, B.C. for assaying. Visual inspection of the core indicates that chalcopyrite may be present. The Igor property is an iron-oxide copper-gold (IOCG) target, with similar characteristics to the Olympic Dam and Ernest Henry deposits in Australia.
Due to a backlog of samples awaiting testing at ALS, the Company anticipates that complete assay results for the first batch of holes may not be complete before October, 2006. As per the news release dated August 17, 2006, a total of 14 holes measuring approximately 2,000 metres have been completed at Igor. A further three to five holes measuring approximately 1,500 metres are planned by the end of 2006.
About Cash Minerals Ltd.
Cash Minerals (www.cashminerals.com) is an emerging publicly listed resource company. Under an agreement with joint venture partner Twenty-Seven Capital Corp., Cash Minerals has the option to earn a 75% interest in one or more of the eight uranium prospects in the Yukon. These prospects include four IOCG prospects and an attractive unconformity-related uranium target all located in the Wernecke Mountain region of north-east Yukon. The company is also engaged in exploring and developing coal properties in the Yukon, and is involved in the development of a coal-to-liquids (CTL) project in China, which uses the Fischer-Tropsch process to convert coal into clean-burning diesel fuel.
Cautionary Note
The matters discussed in this news release include forward-looking statements. Such statements are subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those described in the forward-looking statements as a result of various important factors, including the risk factors as set forth in Cash Minerals' 2005 Annual Report filed with SEDAR on May 16, 2006.
Should you wish to receive Company news via email, please email shosein@cashminerals.com and specify "CHX News" in the subject line.
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)
bbotha@cashminerals.com
Peter Arendt
Cash Minerals Ltd.
Vice President
(604) 633-9942
(604) 633-9972 (FAX)
parendt@cashminerals.com
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Source: Cash Minerals Ltd.
