Cash Minerals Ltd.

Cash Minerals Ltd.

April 24, 2007 09:57 ET

Cash Minerals Provides Update on Drilling at Odie Property, Wernecke Uranium District, Yukon

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 24, 2007) - Cash Minerals Ltd. (TSX VENTURE:CHX) today provided an update on the drills operating on the Odie property, located in the Wernecke Uranium District, Yukon. As of April 23, a total of 637 metres have been completed. Drilling is ahead of schedule.

Targets for stage one drilling on the Odie project have been delineated using combined magnetic and gravimetric data. The region selected for drilling is considered to represent an area where the Proterozoic basement is interpreted to be the closest to the surface. This basement is interpreted to be comprised largely of metasedimentary rocks of the Wernecke Supergroup, which host IOCG-U (iron-oxide-copper-gold uranium) mineralization elsewhere in the Wernecke Uranium District, which includes the known mineralization at Igor property. Basement rocks are interpreted to be overlain by coal-bearing Cretaceous sedimentary rocks draped by fluvioglacial till. Both Drills 1 and 2 have penetrated the glacial till and are now drilling through sedimentary rocks interpreted to be Cretaceous in age, and above the unconformity with the Wernecke Supergroup metasedimentary rocks. Project geologists are monitoring drilling progress and have commenced geological logging.

"The Board and Management of Cash Minerals are extremely pleased with the progress of the drilling at Odie and we look forward to receiving the first geochemical assays of the core, possibly as early as June," said Basil Botha, President and CEO of Cash Minerals. "The holes that are being drilled, some planned to be as deep as 600 metres, will provide valuable data on the resource potential of this exciting uranium target."

The Odie property is one of nineteen properties under the Yukon Uranium project, a partnership between Cash Minerals and Mega Uranium Ltd (TSX:MGA). The 2007 uranium exploration program is being conducted under the supervision of Mr. Christopher K. Hutchings, P.Geo., who is a qualified person under National Instrument 43-101.

About Cash Minerals Ltd.

Cash Minerals ( is an emerging publicly listed energy company focused on uranium, coal and alternative fuels (synfuels). Under an agreement with Mega Uranium Ltd., Cash Minerals has the option to earn a 75% interest in uranium prospects located in various parts of the Yukon. These highly prospective prospects include numerous iron-oxide copper-gold (IOCG), structurally-controlled hydrothermal uranium targets.

The Company is also engaged in exploring and developing coal properties in southwest Yukon Territory. The Company's Division Mountain project has a measured resource of 52.5 million tonnes of high Volatile "B" Bituminous coal (refer to NI 43-101 report dated December 21, 2005), which occupies less than five percent of Cash Minerals' total coal leases in the Yukon. The potential exists to provide this coal as feedstock for a mine-mouth power station. Cash Minerals is also pursuing the development of a coal mine in China that would provide feedstock to an adjacent coal-to-liquids (CTL) plant, which would utilize the Fischer-Tropsch process to convert coal into clean-burning fuel.

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