Cash Minerals Ltd.
TSX VENTURE : CHX

Cash Minerals Ltd.

January 17, 2007 09:01 ET

Cash Minerals Announces Additional Polymetallic Assay Results From the Lumina Property, Wernecke District, Yukon

Previously Reported High-Grade U3O8 Surface Samples Also Contain up to 3.0 g/t Gold and 2,440 ppm Molybdenum

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 17, 2007) - Cash Minerals Ltd. (TSX VENTURE:CHX) today announced encouraging new geochemical data for surface samples collected from the Lumina Property, located in the Wernecke District, Yukon. Assay results show that rocks collected in 2006 with up to 1.82% U3O8 mineralization also contain up to 3.0 g/t gold, 2,440 ppm molybdenum, 12.9 g/t silver (Ag) and 0.58% copper (Cu) (refer to Table 1).

Table 1: Select surface samples from the Lumina Property with newly acquired assay results for Gold (Au), Molybdenum (Mo) and Silver (Ag) (i)



--------------------------------------------------------------------
Sample Type Width U3O8 U3O8 Au Mo Cu Ag
# (m) wt % lb/t g/t ppm wt % g/t
--------------------------------------------------------------------
C103604 Outcrop 1.820 40.0 0.42 1180 0.01 5.9
--------------------------------------------------------------------
C103621 Subcrop 0.554 12.2 0.64 460 0.52 6.5
--------------------------------------------------------------------
C103603 Float 0.509 11.2 0.07 37 0.33 1.3
--------------------------------------------------------------------
C103626 Float 0.477 10.5 0.01 14 0.00 less than 0.2
--------------------------------------------------------------------
C103602 Float 0.458 10.1 3.00 1950 0.01 12.3
--------------------------------------------------------------------
C103606 Outcrop 0.348 7.7 0.75 2440 0.01 12.9
--------------------------------------------------------------------
C103614 Float 0.274 6.0 0.08 69 0.05 1.1
--------------------------------------------------------------------
C103624 Float 0.261 5.7 0.46 900 0.01 3.5
--------------------------------------------------------------------
C103639 Chip 1 0.190 4.2 0.01 3 0.02 0.7
--------------------------------------------------------------------
C103616 Float 0.142 3.1 0.01 2 0.17 0.2
--------------------------------------------------------------------
C103611 Float 0.091 2.0 0.00 2 0.00 2
--------------------------------------------------------------------
C103608 Chip 8 0.075 1.7 0.09 160 0.02 1.2
--------------------------------------------------------------------
C103618 Chip 0.3 0.075 1.7 0.15 91 0.03 1.1
--------------------------------------------------------------------
C103622 Float 0.075 1.7 0.01 14 0.00 0.5
--------------------------------------------------------------------
C103610 Float 0.073 1.6 0.02 21 0.01 0.2
--------------------------------------------------------------------
C103617 Float 0.072 1.6 0.05 125 0.58 1.9
--------------------------------------------------------------------
C103630 Chip 1.5 0.072 1.6 0.10 437 0.36 3.6
--------------------------------------------------------------------
C103627 Float 0.070 1.5 0.05 710 0.52 2
--------------------------------------------------------------------
C103623 Float 0.054 1.2 0.91 117 0.01 8
--------------------------------------------------------------------
C103620 Float 0.053 1.2 0.14 22 0.08 0.9
--------------------------------------------------------------------
C103609 Float 0.048 1.1 0.01 2 0.01 less than 0.2
--------------------------------------------------------------------
--------------------------------------------------------------------


(i) Highlights of surface samples reported in news release of December 18, 2006, which presented assay results for U3O8 content of 0.142% and higher.

"The polymetallic character of uranium-rich mineralization within the Lumina Property, as well as the quantity of samples endowed with significant U3O8 and the numerous untested radiometric anomalies further supports that the Lumina Property exhibits substantial potential," said Mr. Basil Botha, President and Chief Executive Officer. "The growing body of geological, geochemical and geophysical data collected from across the Wernecke District will provide our team with a solid base for the aggressive exploration program Cash Minerals has planned in the Yukon for 2007."

All drill core and surface sample analyses for the Lumina property were conducted at SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan. All samples were routinely processed by 46 element total digestion ICP analyses with confirmation by assays for samples with uranium exceeding 1000 ppm. Reproducibility is excellent between the two techniques. Measured radioactivity also correlates well with the analytical results. Gold concentrations were determined by 30 g fire assay. Exploration in the Wernecke District is being managed by Archer, Cathro & Associates (1981) Limited under supervision of W.A. Wengzynowski, P.Eng. who is the qualified person as specified in National Instrument 43-101 for technical disclosure in this news release.

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 joint venture partner Twenty-Seven Capital Corp., Cash Minerals has the option to earn a 75% interest in uranium prospects located in various parts of the Yukon. These highly prospective prospects include numerous IOCG, structurally-controlled and hydrothermal uranium targets.

The Company is also engaged in exploring and developing coal properties in southwest Yukon Territory. The Division Mountain coal project comprises of five coal leases measuring 776.4 hectares and 30 territorial coal exploration licenses covering some 360,000 hectares in coal-bearing stratigraphy. The Division Mountain NI 43-101 report of December 21, 2005 states a measured resource of 52.5 million tonnes of high Volatile "B" Bituminous coal for the property, which occupies less than five percent of Cash Mineral's total coal leases in the Yukon. The potential exists to export coal through the Port of Skagway, Alaska, as well as providing feedstock for mine-mouth power station.

Cash Minerals is also pursuing the development of a coal mine in China which 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.

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

Contact Information