Cash Minerals Ltd.

Cash Minerals Ltd.

January 10, 2007 08:00 ET

Cash Minerals Announces New Discovery at Vic Property, Wernecke District, Yukon-Assays of 0.22% U3O8 and 2.62 g/t Gold

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 10, 2007) - Cash Minerals Ltd. (TSX VENTURE:CHX) today announced assays of 0.22% U3O8, 0.19% U3O8, 2,650 ppm molybdenum and 2.62 g/t gold from surface samples collected at the Vic property, Yukon. All samples contain appreciable silver and copper concentrations. Samples were collected from brecciated zones within a fault corridor passing through the property, where sulfide mineralization typically occurs in close association with hydrothermal magnetite and barite.

"Vic was staked during the 2006 exploration season. It is one of fifteen newly discovered properties that Cash Minerals holds in the Wernecke Uranium District. We are extremely pleased that the first assays returned such positive results," stated Basil Botha, President and CEO. "With the high U3O8 assays of 0.22% and 0.19%, and the impressive gold assay of 2.62 g/t, the company is looking forward to further evaluating the potential of the Vic property. Management is discussing the possibility of joint venturing the property to other uranium companies that have expressed an interest in the Wernecke District."

The Vic property is associated with a distinct geophysical anomaly and sulfide mineralization crops out as a gossanous zone with up to 200 metre strike length. Preliminary drilling aims to test the character of mineralization beneath the gossanous zone. The spatially associated geophysical anomaly is yet to be tested, and targeting awaits interpretation of ground geophysical model data. The collective occurrence of the various metals at Vic is very positive, suggesting a possible complex geological system, which could indicate the existence of an ore-forming system. Additionally, the grades of accessory molybdenum and gold have the potential to increase the value of any ore that may exist.

"Cash Minerals is the most active uranium exploration company in the Yukon, and holds one of the largest land positions in the Werneckes. In 2006 the Company drilled over 9,000 metres and expanded its land position from 462 claims to more than 4,000 covering over 800 square kilometres," continued Mr. Botha. "The work conducted in the 2006 exploration program has identified a number of new uranium prospects. The Company looks forward to evaluating the potential of these prospects and to exploring new uranium targets as part of its $15 million 2007 exploration program."

All 2006 analyses for the Vic property were conducted at ALS Chemex Laboratories in North Vancouver, British Columbia. Uranium values were routinely obtained by total digestion ICP analyses and confirmed by pressed pellet X-ray diffraction. Reproducibility is excellent within and between techniques. Measured radioactivity correlates well with analytical results.

Exploration in the Wernecke Mountains 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.

Table 1 presents all the surface assays from Vic which were collected in 2006.

Table 1: Surface Assays from the Vic Property

Sample # Description U3O8 (%) Au (g/t) Ag (ppm) Cu (ppm) Mo (ppm)
1 Chlorite altered 0.06 0.013 3.5 1,465 450
2 Massive pyrite 0.04 0.033 1.2 659 67
3 Wernecke breccia 0.22 0.213 1.9 928 542
4 Wernecke breccia 0.19 2.620 11.0 1,595 2,650

About Cash Minerals Ltd.

Cash Minerals ( 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 unconformity-related 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.

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