Cash Minerals Ltd.

Cash Minerals Ltd.

October 24, 2005 16:30 ET

Cash Minerals Acquires Strategic Uranium Property Adjacent to Lumina Property, Yukon

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 24, 2005) - Cash Minerals Ltd. (TSX VENTURE:CHX) today announced that another land package, named Dolores, has been acquired by the Company and its joint-venture partner Twenty-Seven Capital Corp. (TSX VENTURE:TSC). Dolores comprises 48 staked claims covering 9.6 sq-km and is located adjacent to the southern part of the Company's Lumina uranium property in the Yukon.

Basil Botha, President and CEO of Cash Minerals Ltd., commented "The ground is highly prospective due to its close proximity to the southern border of Lumina and the highly radioactive Jack Flash showing. For this reason we believe the Dolores acquisition could prove to be very valuable to Cash."

Acquisition of the Dolores property mineral claims and interest from 50:50 owners Pamicon Developments Limited and Equity Engineering Ltd. is in exchange for both CHX shares and TSC shares, and $10,000. Cash's portion of shares is payable over a three-year period ending October 1, 2008, and shall total 250,000 common shares. The Dolores property acquisition is subject to the same joint-venture terms that the Company has in place with JV partner Twenty-Severn Capital at the four other Wernecke Mountain uranium properties; that is, Cash Minerals can earn up to a 75% interest. The acquisition remains subject to regulatory approval.

Furthermore, the previous owners of the Dolores property shall retain a net smelter royalty (NSR) of 2% that the Company has an option to purchase for $1,000,000.

The previously announced 6,000 m drill program to be completed through summer of 2006 will include surface sampling at the Dolores property. Results of recent sampling and radiometric prospecting at the Lumina (Jack Flash occurrence) uranium property, as announced in October 12, 2005, have been very positive.

The 2005 programs on the Lumina and Igor properties was conducted by Archer, Cathro & Associates (1981) Limited under the supervision of W.A. Wengzynowski, P.Eng. who is the qualified person for NI43-101 purposes. All analyses were conducted at ALS Chemex in North Vancouver or the Saskatchewan Research Council (SRC) Geoanalytical Laboratories in Saskatoon.

Cash Minerals will be participating in The PIPEs Conference 2005 being held in New York City at The Waldorf-Astoria on October 26 and 27, where Basil Botha will be addressing conference attendees. The PIPEs Conference 2005 features investors, investment bankers, attorneys, company executives, and industry analysts active in the small cap equity market. The conference includes CLE-accredited workshops, roundtables, and presentations from leading industry professionals. Information about the event can be found at

About Cash Minerals Ltd.

Cash Minerals has a two-pronged exploration and development focus in the Yukon. Its Division Mountain Coal Project's five Coal leases measure 776.4 hectares and the 30 Coal Exploration Licenses cover approximately 360,000 hectares in coal-bearing stratigraphy. A recently completed NI 43-101 Report on the Project by T. C. Becker, B.Sc., P.Geo. of Norwest Group (first reported by the Company on March 31, 2005 and filed as a technical report on SEDAR on April 1, 2005) confirms resources of 38.6 million tonnes (Measured) and 13.0 million tonnes (Indicated) and a full bankable feasibility study is nearing completion.

Cash's uranium exploration projects boast major stakes in eight quality projects (Yukon and western Quebec). Four of the projects host Olympic Dam-type mineralization and 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. Cash Minerals Ltd. ( is an emerging energy resource company listed on the TSX Venture Exchange under the symbol "CHX" and has approximately 34.4 million shares outstanding.

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This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

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