Cash Minerals Ltd.
TSX VENTURE : CHX

Cash Minerals Ltd.

June 24, 2010 07:00 ET

Cash Minerals Changes Name to Pitchblack Resources Ltd. and Completes Share Consolidation

TORONTO, ONTARIO--(Marketwire - June 24, 2010) - Cash Minerals Ltd. (TSX VENTURE:CHX) is pleased to announce that pursuant to a special resolution passed by the shareholders of the Company at its annual and general meeting held on June 10, 2010, the Company has consolidated its common shares on the basis of one new common share for every twenty old common shares held and has changed its name to "Pitchblack Resources Ltd.". Effective June 25, 2010, the common shares of the Company will commence trading on the TSX Venture Exchange on a consolidated basis under the name "Pitchblack Resources Ltd." with the new trading symbol "PIT".

Equity Transfer & Trust Company, the Company's transfer agent, will act as agent for the purposes of implementing the exchange of share certificates. Transmittal forms have been mailed to shareholders of record as of May 10, 2010, included as part of the proxy materials sent to shareholders. The letter of transmittal will also be accessible under the SEDAR profile of the Company at www.sedar.com.

In addition, the Company announces that the Heads of Agreement with East Asian Minerals Corporation for the purchase of a 100% interest in EAM Exploration LLC has been terminated.

Cash Minerals has uranium, coal and gold assets in the Yukon Territory, Canada. The Company is currently reviewing the potential of these properties but does not plan any extensive field work in 2010 and may seek to sell its interest in the properties.

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, the effect of the share consolidation, the termination of the proposed agreement, exploration prospects, requirements for additional capital and regulatory approvals. 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 to be materially different from those expressed or implied by such forward-looking information, including but not limited to: financing not being available at desired prices; 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; competition; 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.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • To register for distribution for future press releases:
    Doug Currie
    President & CEO
    info@cashminerals.com