Cash Minerals Ltd.
TSX VENTURE : CHX

Cash Minerals Ltd.

May 24, 2006 08:00 ET

Cash Minerals Retains Australian IOCG Uranium Geologist

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 24, 2006) - Cash Minerals Ltd. (TSX VENTURE:CHX) today announced that Dr. Geordie Mark, a geologist specializing in IOCG (Iron-Oxide-Copper-Gold) deposits, has been retained to provide expertise in the exploration and evaluation of the Company's uranium properties in the Yukon. Dr. Mark will provide a valuable overview in determining the IOCG model in the Yukon based on his experience with Olympic Dam type targets found in Australia. The Olympic Dam mine in Australia is the second largest producer of uranium in the world.

Dr. Mark specializes in the genesis and interpretation of hydrothermal IOCG geological systems, and has over 12 years of field and research experience relevant the exploration and interpretation of IOCG deposits in Australia, Europe and Canada. He has written and contributed to numerous technical papers and reports on the subject, and has also conducted training courses and workshops.

Mr. Basil Botha, President and CEO of Cash Minerals Ltd., stated "We are indeed fortunate to have an expert of Dr. Mark's calibre as part of the geological team exploring our uranium prospects. Our exploration efforts will also continue to benefit from the guidance of Suraj Ahuja, who is one of the foremost experts on uranium deposits in North America. The team is also augmented by a highly qualified team from Archer Cathro, who have more than thirty years of uranium exploration experience in the Yukon, and whose successes include the discovery of a major belt of uraniferous IOCG breccia bodies."

Under an agreement with Twenty-Seven Capital Corp., Cash Minerals has the option to acquire up to 75% in one or more of 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. In 2006, $4.5 million is budgeted for approximately 8,500 metres of drilling at the Igor and Lumina properties, which have been identified as the most promising IOCG targets. In addition, in 2006 approximately 1,000 metres of exploration drilling will be conducted at the Pedlar uranium property in western Yukon in joint venture with Twenty-Seven Capital. Dr. Mark's work will be focused on the exploration programs at Igor and associated IOCG properties.

About Cash Minerals Ltd.

Cash Minerals Ltd. (www.cashminerals.com) is an emerging energy resource company listed on the TSX Venture Exchange under the symbol "CHX" and has approximately 61.2 million shares outstanding. Current activities are focused on Uranium, Coal and Alternative Fuels (SynFuel).

Cash Minerals' Uranium exploration projects boast major stakes in eight quality projects, all of which were previously drilled. Four resemble an Olympic Dam-type project, two are modeled after the prolific Rossing Deposit in South Africa and one is testing possible unconformity-related, high grade, vein-and-fracture-controlled uranium mineralization.

The Division Mountain Coal Project in Yukon 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 Updated NI 43-101 Report dated December 21, 2005 by T. C. Becker, B.Sc., P.Geo. of Norwest Group (filed with SEDAR on January 10, 2006) confirmed coal resources of 52.5 million tonnes entirely in the Measured category.

Cash Minerals is also developing a project in China which would utilise Fischer-Tropsch technology to produce clean burning alternative fuels from coal.

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