Cavan Ventures Inc.

Cavan Ventures Inc.

June 26, 2009 13:10 ET

Cavan Ventures Inc. Announces its Acquisition of the Kaslo Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2009) - In reference to Cavan Ventures Inc.'s (TSX VENTURE:CVN) Technical Report filed on July 25, 2007 and subsequent news releases issued on June 11, 2008, August 22, 2008, and January 23, 2009, Cavan Ventures Inc. (the "Company") is pleased to announce that the Company has completed its acquisition of its 100% right, title and interest in the Kaslo Property (previously called the Emerald Property).

Pursuant to an option agreement dated for reference May 10, 2006 and amended November 17, 2006, May 23, 2007, June 14, 2007, and September 21, 2007 in respect of the mineral claims situated in Slocan Mining Division, British Columbia, known as the Kaslo Property, the Company has recently fulfilled its final obligations by paying a sum of $50,000 to the vendor as well as a sum of $10,000 cash, as advanced royalties.

The Company will also have to pay a net smelter returns royalty when and if the Company decides to commence commercial production on the Kaslo Property. Though the Company has no obligation to begin commercial production, if the Company decides to do so, then payment will be a royalty of 2% of net smelter returns, paid quarterly and within 90 days after the end of each fiscal year when there was commercial production. As an alternative to paying the net smelter returns royalty, the Company can also pay the vendor a lump sum payment of $1,000,000. This lump sum payment will be reduced by any prior payments of any royalties.

The Company also announces effective June 15, 2009, Mr. Ross W. Smyth's resignation as director and member of the Audit and Compensation Committee of the Company. The Company thanks Mr. Smyth for his contribution to the Company. In connection with Mr. Smyth's resignation, the Company is seeking a new director to fill Mr. Smyth's former positions with the Company.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Cavan Ventures Inc. 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.

On behalf of the Board of Directors,


Ming Chiang

For further information please visit our website at

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information