Cash Minerals Ltd.

Cash Minerals Ltd.

March 02, 2005 16:05 ET

Cash Minerals Announces Commencement of 43-101 Report on Division Mountain Coal Project in Yukon


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CASH MINERALS LTD.

TSX VENTURE SYMBOL: CHX

MARCH 2, 2005 - 16:05 ET

Cash Minerals Announces Commencement of 43-101 Report
on Division Mountain Coal Project in Yukon

TORONTO, ONTARIO--(CCNMatthews - March 2, 2005) - CASH MINERALS LTD.
(TSX VENTURE:CHX), is pleased to announce the commencement of a 43-101
Report on the Company's Division Mountain Coal Project. The 43-101
Report will further advance the Division Mountain Coal Project, and
along with the previously announced Uranium transaction, further enhance
the Company's stated goal of becoming a energy company. Cash Minerals is
also investigating the Coal Bed Methane potential of the Division
Mountain area, as well as opportunities for power generation.

The 43-101 Report on the Division Mountain Coal Property will review
prior work which included a reported 67 diamond drill holes. Contingent
upon the 43-101 Report, a Scoping Study on the project will be completed
as well to provide order of magnitude potential project economics. In
combination, the studies will address geology, coal resources and
quality, mineability, mining costs and transportation options in
sufficient detail to allow Cash Minerals to make decisions regarding
possible development of the Project.

The 43-101 Report is being conducted by Gary Stubblefield, P.Eng., a
qualified person under NI 43-101 of Norwest Corporation, a leading North
American coal and energy engineering consultancy.

The Division Mountain Coal Project

The Division Mountain Thermal Coal Project is located approximately 90
km northwest of Whitehorse, the capital and largest community in Yukon
Territory. The deposit lies 20 km west of Highway 2 and Yukon's main
power grid, and 300 km from the closest tidewater port at Skagway,
Alaska. The coal deposit is 100% owned by the Company under five
renewable 21 year mining leases. In addition, the Company owns 22 Coal
Exploration Licences on approximately 3,493 square km of coal bearing
stratigraphy in surrounding areas.

Sink/float tests performed on the Division Mountain Coal Project in the
late 1990's indicated that a conventional technology preparation plant
will produce clean coal that compares favourably with other Pacific Rim
suppliers and exceeds sales requirements for thermal coal in the Asian
market, with essential clean coal parameters of 12% ash 0.46% total
sulphur and 6170 kcal/kg calorific value; and is also suitable for
pulverized coal injection (PCI) used in steel production.

The Company has also carried out wide ranging environmental surveys in
anticipation of application for mining permits as well as extensive
consultation with local communities in the region including First
Nation, municipal, territorial and federal levels of Government.

Cash Minerals - An Emerging Energy Company

Cash Minerals Ltd., (CHX-TSX Venture Exchange) is an emerging energy
company with coal assets and uranium exploration properties in the Yukon.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Cash Minerals Ltd.
    Tony Wonnacott
    Corporate Secretary
    +1-416-861-5879
    THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
    OR ACCURACY OF THIS RELEASE.