Cash Minerals Ltd.
TSX VENTURE : CHX

Cash Minerals Ltd.
Signet Minerals Inc.
TSX VENTURE : SGN

Signet Minerals Inc.

June 14, 2007 08:00 ET

Cash Minerals and Signet Provide Update on Strategic Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 14, 2007) -

NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES

Cash Minerals Ltd. (TSX VENTURE:CHX) ("Cash Minerals" or the "Company") and Signet Minerals Inc. (TSX VENTURE:SGN) ("Signet") today jointly announced the execution of an arrangement agreement relating to the previously announced transaction, whereby Cash Minerals will acquire all of the outstanding common shares of Signet in exchange for units of Cash Minerals. Pursuant to the transaction, Signet shareholders will receive one unit of Cash Minerals for each Signet common share held, with each unit being comprised of 0.67 common shares of the Company and one-half of one share purchase warrant, each whole share purchase warrant being exercisable for one common share of Cash Minerals at a price of $1.75 per share for a period of three years from the date of issue. In connection with the transaction, Signet will spin out its non-uranium properties into a separate company called Troymet Exploration Corp. ("Troymet") created for the spin out and each Signet shareholder will receive 0.25 common shares of Troymet for each Signet common share held.

Outstanding Signet warrants will be exercisable into Cash Minerals common shares and warrants and Troymet common shares in lieu of one common share of Signet on the same terms and conditions as the original warrant after taking into consideration the above exchange ratios.

The Board of Directors of Signet has unanimously determined that the transaction is fair and will recommend that Signet shareholders approve the transaction. Signet's financial advisor, Toll Cross Securities Inc., has provided a verbal opinion to the Board of Directors of Signet that the consideration to be received by shareholders under the transaction is fair, from a financial point of view, to such shareholders.

The arrangement agreement provides for, among other things, a non-solicitation covenant on the part of Signet, a right in favour of Cash Minerals to match any competing offers, and a non-completion fee payment of $995,000 to be paid by Signet under certain circumstances.

The transaction is conditional upon receipt of shareholder, court and regulatory approval, and receipt of third party consents and other conditions customary in a transaction of this nature. The transaction must be approved by at least two-thirds of the votes cast by shareholders of Signet at a meeting of holders of common shares of Signet to be held on July 24, 2007.

Cash Minerals has entered into lock-up agreements with Signet shareholders who hold approximately 21% of the outstanding Signet common shares, pursuant to which they have agreed to support the transaction, subject to certain conditions. The directors and officers of Signet have also agreed to support the transaction, subject to certain conditions.

The proposed transaction allows Signet shareholders to participate in Cash Minerals' major uranium exploration program, while continuing to participate in the exploration of the Curie and Murphy uranium projects. Signet shareholders would also benefit from future consolidating acquisitions made by Cash Minerals, such as the recently announced joint venture agreement with Cornerstone Capital Resources Inc.

Cash Minerals' financial advisor is PowerOne Capital Markets Limited and Signet's financial advisor is Toll Cross Securities Inc.

About Cash Minerals

Cash Minerals (www.cashminerals.com) is an emerging publicly listed energy company focused on uranium, coal and alternative fuels (synfuels). Under an agreement with Mega Uranium Ltd., Cash Minerals has the option to earn a 75% interest in uranium projects located in various parts of the Yukon. These highly prospective projects include numerous iron-oxide copper-gold (IOCG), structurally-controlled hydrothermal uranium targets.

The Company is also engaged in exploring and developing coal properties in southwest Yukon Territory. The Company's Division Mountain project has a measured resource of 52.5 million tonnes of high Volatile "B" Bituminous coal (see NI 43-101 report dated December 21, 2005), which occupies less than five percent of Cash Minerals' total coal leases in the Yukon. The potential exists to provide this coal as feedstock for a mine-mouth power station. Cash Minerals is also pursuing the development of a coal mine in China that would provide feedstock to an adjacent coal-to-liquids (CTL) plant, which would utilize the Fischer-Tropsch process to convert coal into clean-burning fuel.

About Signet

Signet Minerals Inc. (www.signetminerals.ca) is a junior mining company actively engaged in exploration for uranium, gold, copper and zinc in Canada. Signet's objective is to advance its high potential projects to the point of significant discovery and/or profitable sale. Signet continues to aggressively seek additional properties of merit for acquisition.

This communication does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of Signet or an offer to sell or exchange or the solicitation of an offer to buy or exchange any securities of Cash Minerals, nor shall there be any sale or exchange of securities in any jurisdiction (including the United States) in which such offer, solicitation or sale or exchange would be unlawful prior to the registration or qualification under the laws of such jurisdiction. The distribution of this communication may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. The solicitation of offers to buy Cash Minerals shares in the United States will only be made pursuant to a prospectus and related offer materials that Cash Minerals expects to send to holders of Signet securities, subject to the requirements of applicable law. The Cash Minerals shares may not be sold, nor may offers to buy be accepted, in the United States prior to the time the registration statement (if any is filed) becomes effective or an exemption from such requirements is available. No offering of securities shall be made in the United States except (i) by means of a prospectus meeting the requirements of Section 10 of the United States Securities Act of 1933, as amended, which would contain detailed information regarding Cash Minerals and its management, as well as its financial statements, or (ii) pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

Cautionary Note Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the future financial or operating performance of the Company, its subsidiaries and its projects, statements regarding exploration prospects, statements regarding synergies and financial impact of the proposed transaction, the terms and conditions of the offer and the offer itself being made, the benefits of the proposed transaction, the identification of mineral reserves and resources, costs of and capital for exploration projects, exploration expenditures, timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company (and the company resulting from the successful completion of the proposed transaction) to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; delay or failure to receive board or regulatory approvals; timing and availability of external financing on acceptable terms; the business of Cash Minerals and Signet not being integrated successfully or such integration proving more difficult, time consuming or costly than expected; not realizing on the potential benefits of the proposed transaction; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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

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