Cavan Ventures Inc.

Cavan Ventures Inc.

July 24, 2009 15:47 ET

Cavan Ventures Inc. Announces a Purchase of an Oil and Gas Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 24, 2009) - Cavan Ventures Inc. ("Cavan") (TSX VENTURE:CVN) is pleased to announce that it has entered into an agreement for the purchase of a non-operated working interest in a shut-in oil and gas property located in the Provost area in East Central Alberta for $280,000 and two million common shares issued at the price of $0.15 per share. The operator has identified four wells that it believes are candidates for reactivation. Cavan is currently preparing a work plan and budget and is in the process of hiring an independent qualified reserves evaluator or auditor to prepare a more detailed report. Closing of the transaction is scheduled for on or before September 25, 2009 and is subject to certain conditions including but not limited to further due diligence, financing, regulatory approval and other conditions customary for this type of transaction.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Cavan with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.

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.

Cavan is a public resources exploration company based in Vancouver, British Columbia trading on the TSX Venture under the symbol, CVN. Cavan's main business objective is to build a portfolio of resources properties with a focus on advancing quality properties to the production stage.

On behalf of the Board of Directors,


Ming Chiang, President & CEO

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