Cash Minerals Ltd.
TSX VENTURE : CHX

Cash Minerals Ltd.

May 06, 2009 17:48 ET

Cash Minerals and Dynamite Resources Complete Acquisition of the Mike Lake Property and Kyrgyz Properties

TORONTO, ONTARIO--(Marketwire - May 6, 2009) -

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

Cash Minerals Ltd. ("Cash Minerals")(TSX VENTURE:CHX) is pleased to announce that it has completed its acquisition from Dynamite Resources Ltd. ("Dynamite") of a 100% interest in the Mike Lake property located in the Dawson Mining District of Yukon and has acquired Tau Mining Limited (UK) ("Tau"), which indirectly holds the Kokomeren, Barskaun, Arabelsu and Moldatau mining licences located in the Kyrgyz Republic (the "Acqusition").

The Mike Lake property consists of 319 mining claims covering an area of approximately 68 square kilometres located in the Tintina Gold Belt, Yukon Territory (the "Mike Lake Property"). The Kokomeren, Barskaun, Arabeslsu and Moldatu properties (collectively the "Kyrgyz Properties") represent four mineral licences located in the Kyrgyz Republic.

In consideration thereof, Cash Minerals has issued 22,750,000 common shares of Cash Minerals (the "Cash Shares") and 11,375,000 common share purchase warrants of Cash Minerals (the "Cash Warrants") (the Cash Shares and Cash Warrants collectively referred to as the "Cash Securities") to Dynamite. Each Cash Warrant entitles the holder thereof to acquire one Cash Share at an exercise price of $0.10 at any time prior to May 5, 2011. The Cash Securities have been distributed to Dynamite shareholders as at the close of business on May 5, 2009 as part of the plan of arrangement between Dynamite and Avion Resources Corp. that was completed on May 6, 2009 (See Dynamite Press Releases dated May 6, 2009 and March 19, 2009.)

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 Tau Mining and its projects, the Mike Lake Property, Tau Mining and its projects, the terms and conditions of the proposed Acquisition, statements regarding synergies and financial impact of the proposed Acquisition, 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: 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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