Cash Minerals Ltd.
TSX VENTURE : CHX

Cash Minerals Ltd.

March 02, 2008 07:00 ET

Cash Minerals Announces 2008 Uranium Exploration Program at Aillik Property, Central Mineral Belt, Labrador

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 2, 2008) - Cash Minerals Ltd. (TSX VENTURE:CHX) today announced the 2008 exploration program for the highly prospective Aillik uranium property, located in the uranium rich Central Mineral Belt, Labrador. The program will consist of a ground induced polarization (IP) survey and additional mapping, followed by a 2,000 metre drill program.

In 2007, Cash Minerals conducted an airborne radiometric-magnetometer survey of the Aillik property and delineated a large east-west trending magnetic anomaly located in the northern region of the property. The magnetic anomaly highlighted apparent curvilinear structural features that are similar to structures that host uranium mineralization at the Jacques Lake prospect, held by Aurora Energy Resources Inc. Also, potassic altered metamorphosed intrusive rocks cut by magnetite veins were identified south of the magnetic anomaly, and are similar to the host rocks at the Jacques Lake prospect. A rock chip sample collected from outcrop during reconnaissance mapping returned elevated uranium of 0.02% uranium oxide (U3O8).

Cash Minerals plans to begin the next phase of the exploration program by second quarter 2008 with the planned work focusing on the curvilinear structures identified in the northern magnetic anomaly.

Aillik Property, Central Mineral Belt, Labrador

On January 29, 2007, Cash Minerals entered a joint-venture agreement with Cornerstone Capital Resources to explore the Aillik uranium property, which is located adjacent to uranium properties held by Aurora Energy Resources Inc. Under the terms of this agreement, Cash Minerals has the ability to earn a majority interest in the Aillik property.

The Aillik property is interpreted by the Geological Survey of Newfoundland and Labrador to be hosted in the same, or similar, package of rocks that host the Michelin and Jacques Lake deposits, as well as the White Bear Lake and Otter Lake uranium systems. Specifically, Aillik is interpreted to contain the continuation of the corridor that hosts the Otter Lake uranium system and its associated radiometric anomaly. Aillik consists of a single block of 162 claims covering approximately 40.5 square kilometres. The property was staked in November 2006 after being released from Exempt Mineral Lands status that exempted staking since 1995.

Exploration on the Aillik property is being conducted under the supervision of Mr. Christopher K. Hutchings, P. Geo., who is the qualified person as specified in National Instrument 43-101 for technical disclosure. Mr. Hutchings, President of Kiex Consulting Limited, a professional geoscience consulting company, has reviewed and approved the technical information contained in this news release.

About Cash Minerals

Cash Minerals is a Canadian-based resource company focused on uranium exploration coal and alternative fuels (synfuels). Under an agreement with joint venture partner Mega Uranium Ltd., Cash Minerals has recently earned a 75% interest in the highly prospective Igor property, located in the Wernecke Uranium District, Yukon. Wernecke Uranium properties include numerous iron-oxide copper-gold-uranium (IOCG-U), structurally-controlled hydrothermal uranium targets.

Forward-Looking Statement

This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to Cash Minerals Ltd., please refer to the Company's 2006 Annual Report filed with SEDAR on April 30, 2007.

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