Cash Minerals Ltd.
TSX VENTURE : CHX

Cash Minerals Ltd.

August 05, 2009 18:54 ET

Cash Minerals Announces $1,500,000 Private Placement Financing

TORONTO, ONTARIO--(Marketwire - Aug. 5, 2009) -

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

Cash Minerals Ltd. (TSX VENTURE:CHX) ("Cash Minerals" or the "Corporation") is pleased to announce that it intends to complete a non-brokered private placement financing to raise approximately $1,500,000 (the "Offering") through the issuance of 30,000,000 units (the "Units") at a price of $0.05 per Unit. Each Unit consists of one common share in the capital of the Corporation and one-half of one common share purchase warrant (each whole warrant a "Warrant"). Each Warrant will entitle the holder thereof to acquire one common share of the Corporation at an exercise price of $0.10 for a 24 month period from the date of issue.

Closing of the Offering is subject to the receipt of standard regulatory approvals including approval of the TSX Venture Exchange. The securities to be issued are subject to a statutory hold period of four months and one day.

The Corporation may pay finder's fees in connection with the financing. Cash Minerals intends to use the net proceeds from the financing for general corporate purposes.

About Cash Minerals

Cash Minerals is a Canadian-based energy company focused on uranium and coal exploration.

Forward-Looking Statement

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 and its projects, the terms of the acquisition, the financing and projected use of proceeds, exploration prospects, requirements for additional capital and regulatory approvals. 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 to be materially different from those expressed or implied by such forward-looking information, including but not limited to: financing not being available at desired prices; general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; competition; 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.

NEITHER 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.

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