Cash Minerals Ltd.
TSX VENTURE : CHX

Cash Minerals Ltd.

July 05, 2005 08:00 ET

Cash Minerals adds Coal Marketing Specialist to the Team

TORONTO, ONTARIO--(CCNMatthews - July 5, 2005) - CASH MINERALS LTD. (TSX VENTURE:CHX) is pleased to announce the appointment of Peter Arendt as Coal Marketing Consultant to Cash Minerals. Mr. Arendt will work with Cash Minerals on securing sales contracts for PCI (Pulverized Coal Injection) and Thermal Coal into the Pacific Rim markets for its Division Mountain Coal Project located near Whitehorse, Yukon.

Mr. Arendt is a senior industry professional with over 10 years of international coal marketing experience with Luscar Ltd., managing sales, marketing, quality and contract administration for both steam and metallurgical coals to Asia, North America, South America and Europe. Prior to his coal marketing positions with Luscar, Mr. Arendt spent ten years in mine operations and engineering roles in Australia and Canada. A significant achievement in his career was the development and execution of a major marketing strategy which redirected thermal coal sales into a new market region in order to capitalize on competitive advantages. The strategy resulted in increased sales volumes, and positioned Canada as a major supplier. Mr. Arendt holds a Bachelor of Engineering (Mining) and a Graduate Diploma in Business, and is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta.

"The additional experience and expertise that Peter Arendt brings to Cash in the development of the Division Mountain coal project is tremendous" said Basil Botha, President. "Peter will play a key role in the logistics of selling PCI and thermal coal into the Pacific Rim markets."

ABOUT CASH MINERALS

The Division Mountain Coal Project.

The Division Mountain Coal Project lies 20 km west of Highway 2 and Yukon's main power grid, and 290 km from the tidewater port at Skagway, Alaska. The Project is owned 100% by Cash Minerals Ltd and consists of five Coal leases measuring 776.4 hectares and 22 Territorial Coal Exploration licenses covering 360,000 hectares. The exploration area covers 4,017 square kilometres of coal bearing stratigraphy.

A recently completed NI 43-101 Report on the Project by Norwest Group confirmed a Measured & Indicated (M&I) Resource of 51.6 million tones of coal. A subsequent scoping study, also completed by Norwest, indicated that the Project is potentially viable. Cash is conducting exploration work, geologic and economic studies and wide ranging environmental surveys in anticipation of application for mining permits. A full bankable feasibility study by Norwest is in progress and is scheduled for completion by September 2005.

Uranium Exploration

In addition to the Division Mountain Coal Project, the Company also has a right to earn an interest in six significant uranium projects in Yukon Territory, including four in the Wernecke Mountain area of northeastern Yukon. These uranium projects are hosted in Proterozoic age iro-oxide rich breccia bodies that share numerous textural and mineralogical similarities to the IOCG deposit (Iron-Oxide-Copper-Gold) model, which include Olympic Dam, Ernest Henry and Candelaria. Two uranium properties, (one in west-central and one in southeastern Yukon), are both hosted in Cretaceous granitic intrusions and are best viewed as bulk tonnage uranium targets, modeled on the Rossing Deposit in Southern Africa. All of the uranium projects have considerable existing data as they were aggressively explored by majors in the late 1970s and early 1980. A 2,800 metre drill program of approximately 24 holes is currently in progress on four of the Uranium properties in Yukon.

Cash Minerals Ltd. (www.cashminerals.com) is an emerging energy resource company listed on the TSX Venture Exchange under the symbol "CHX". The Company has approximately 24.2 million shares outstanding.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Cash Minerals Ltd.
    Basil Botha
    President & C.E.O.
    (604) 608-6175
    or
    Cash Minerals Ltd.
    David Meyer
    Business Consultant
    (416) 861-5891