Cash Minerals Ltd.
TSX VENTURE : CHX

Cash Minerals Ltd.

October 12, 2005 12:00 ET

Cash Minerals Confirms Lumina Uranium Mineralization Ranging up to 7.67% '153.4 lb/ton' over 1.4 km; 6,000 Metre Drill Program set to Commence

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 12, 2005) - Cash Minerals Ltd. (TSX VENTURE:CHX) today announced results of summer 2005 sampling and radiometric prospecting at its Lumina uranium property in the Wernecke Mountains of east-central Yukon Territory; and that a 6,000 metre drill program has been set to commence for its Wernecke Mountain properties.

The main mineral showing (Jack Flash) has been exposed for the first time by recent glacial melting (see www.cashminerals.com projects section for photographs). It consists of fracture zones and veins on a cirque wall. Radioactive boulders containing pitchblende and uranium oxides derived from this showing are found in a 1.4 km long by 100 m wide zone atop a glacier. A total of 31 representative boulder samples were collected by Cash Minerals and previous owners. Results are below:



-----------------------------------------------------
% U3O8 U3O8 lb/ton
----------------------------------
Jack Flash Showing From To From To
-----------------------------------------------------
Range 0.025 7.67 0.5 153.4
-----------------------------------------------------
Average grade 1.22 24.4
-----------------------------------------------------


A second mineral showing (Ram) located 4.5 km north of the Jack Flash showing, is exposed in two trenches located 50 m apart. Chip sampling across this vein by previous owners assayed 0.910% (18.2 lb/ton) U3O8 over 2 m and 0.615% (12.3 lb/ton) U3O8 over 1 m. The trenches did not fully expose the width of the vein and it is open along strike in both directions under overburden.

Basil Botha, President and CEO, commented "We are very impressed and enthusiastic with the average grade of 1.22% (24.4 lb/ton) U3O8 at Jack Flash. Based on these positive results we have decided to immediately mobilize a 6,000 metre drill program at Lumina. Initial work will focus on the Ram target because of available water but ultimately numerous targets will be tested, and these of course will include Jack Flash."

The Lumina property measures approximately 20 sq km and hosts widespread uranium enriched talus and glacially dispersed boulders, the sources of which will be drilled in 2005/2006.

Cash Minerals Ltd. is on target to earn up to a 75% interest in six uranium properties in the Yukon under option agreements with Twenty-Seven Capital Corp.

The 2005 exploration program at Lumina was conducted by Archer, Cathro & Associates (1981) Limited under the supervision of W.A. Wengzynowski, P.Eng. Mr. Wengzynowski, the designated QP within the meaning of NI 43-101. All analyses were conducted at the Saskatchewan Research Council (SRC) Geoanalytical Laboratories in Saskatoon using aqua regia digestion followed by ICP analysis.

The Board of Directors of Cash Minerals has welcomed Mr. Stan Bharti as a director. Mr. Bharti has over 25 years of business, management and financing experience. Over the last ten years Mr. Bharti has been involved in acquiring, restructuring, and financing, having raised over $200 million in the public markets. His experience in public markets includes acquisitions of companies in Europe, Australia and North America. He holds Masters Degrees in Engineering from Moscow, Russia, and from University of London, England.

About Cash Minerals Ltd.

Cash Minerals has a two-pronged exploration and development focus in the Yukon. Its Division Mountain Coal Project's five Coal leases measure 776.4 hectares and the 30 Coal Exploration Licenses cover approximately 360,000 hectares in coal-bearing stratigraphy. A recently completed NI 43-101 Report on the Project by T. C. Becker, B.Sc., P.Geo. of Norwest Group (first reported by the Company on March 31, 2005 and filed as a technical report on SEDAR on April 1, 2005) confirms resources of 38.6 million tonnes (Measured) and 13.0 million tonnes (Indicated) and a full bankable feasibility study is nearing completion.

Cash's uranium exploration projects boast major stakes in seven quality projects (Yukon and western Quebec). Four of the projects host Olympic Dam-type mineralization and two are modeled after the prolific Rossing Deposit in South Africa and one is testing possible unconformity-related, high grade, vein-and-fracture-controlled uranium mineralization. Cash Minerals Ltd. (www.cashminerals.com) is an emerging energy resource company listed on the TSX Venture Exchange under the symbol "CHX" and has approximately 34.4 million shares outstanding.

Should you wish to receive Company news via email, please email julia@chfir.com and specify "CHX News" in the subject line.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information