Cash Minerals Ltd.
TSX VENTURE : CHX

Cash Minerals Ltd.

April 21, 2008 09:00 ET

Cash Minerals Releases Additional Assay Results From Igor Uranium Property, Yukon Territory and Extends Mineralized Zone to the North

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2008) - Cash Minerals Ltd. (TSX VENTURE:CHX) today announced remaining drill results from the 2007 exploration program at the Igor iron-oxide copper-gold-uranium (IOCG-U) property, located in the Wernecke Uranium District, Yukon. Cash Minerals has elected to earn a 75% interest in the Igor property and is required to produce a bankable feasibility study by December 31, 2012. Work on the Igor property is performed under the terms of a joint-venture agreement with Mega Uranium Ltd. (TSX:MGA). Cash Minerals will be the operator for the 2008 exploration program.

Significant intersections from the most recent results at the Igor property include the following:



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Hole From (m) To (m) Metres U3O8 (%) Cu (%) Ag (g/t) Au (g/t)
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IG-2007-26 17.00 21.40 4.40 0.132 7.24 6.79 0.21
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199.00 213.50 14.50 0.013 0.79 - 0.05
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including 205.50 209.50 4.00 0.045 2.53 2.17 0.14
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IG-2007-24 145.00 151.00 6.00 0.047 - 2.05 0.05
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"The latest drill hole assays from the 2007 exploration program continue to demonstrate the potential of the Igor property to host a copper-uranium resource," commented Basil Botha, President and Chief Executive Officer of Cash Minerals Ltd. "We expect to release an initial resource number for Igor in the coming months, which we anticipate will confirm this potential."

Igor Property Moves Toward Resource Definition

Hole 26 was drilled on an azimuth of 050 degrees and a dip of -60 degrees and was drilled from the same collar location as Hole 22 (details in January 23, 2008 press release). The intercept extends the known mineralized zone to the north of the intercept in Hole 22 by approximately 100 metres. Gravity and magnetic data suggests that the mineralized body extends further to the north and a ground EM (electromagnetic) survey is planned for early summer to aid in tracing the high-grade copper core of the zone. Drill testing this 600-metre mineralized zone to the north, as well as the southwest, will be the focus for drilling in 2008.

Highlights from results released earlier this year included 140 metres of 0.042% U3O8 (uranium oxide) and 0.76% copper (Cu) from surface, including 7 metres of 0.417% U3O8 and 7.37% Cu. A total of 9,042 metres, 31 holes, was completed at Igor in 2007. Mineralization at Igor is similar in style to the iron-oxide copper-gold-uranium mineralization at the Olympic Dam (Gawler Craton) and Ernest Henry (Mt Isa Inlier) deposits in Australia.

Selected drill hole assays are as follows:



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Hole From (m) To (m) Metres U3O8 (%) Cu (%) Ag (g/t) Au (g/t)
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IG-2007-26 17.00 21.40 4.40 0.132 7.24 6.79 0.21
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56.00 68.00 12.00(1) - 0.38 - 0.05
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including 57.00 60.00 3.00(2) - 0.95 1.16 0.10
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81.50 83.50 2.00 - 0.77 - 0.06
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107.00 132.50 25.50 - 0.37 1.15 0.05
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including 116.50 121.50 5.00(3) - 0.98 2.01 0.09
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153.00 159.00 6.00 - 0.33 1.01 0.06
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193.00 194.50 1.50 0.030 - - -
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199.00 213.50 14.50 0.013 0.79 - 0.05
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including 205.50 209.50 4.00 0.045 2.53 2.17 0.14
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289.00 299.00 10.00 - 0.45 - -
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358.00 380.00 22.00 - 0.41 - 0.05
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including 374.00 379.50 5.50(4) - 1.08 1.08 0.13
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IG-2007-24 145.00 151.00 6.00(5) 0.047 - 2.05 0.05
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IG-2007-27 70.00 76.50 6.50 - 0.33 - -
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IG-2007-28 89.50 93.00 3.50 - 0.44 - -
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186.50 211.00 24.50 - 0.23 - -
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252.00 255.00 3.00 - 0.42 - -
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IG-2007-29 204.50 216.00 11.50 0.007 0.20 - -
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1. Includes 0.034% cobalt
2. Includes 0.047% cobalt
3. Includes 0.040% cobalt
4. Includes 0.038% cobalt
5. Includes 0.078% cobalt

Minimum values shown are: Cu 0.20%; U3O8 0.006%; Ag 1 g/t;
Au 0.05 g/t; Co 0.030%

Note that true width intervals are as yet unconstrained


"The main objective of the 2008 exploration program is to determine the northern extent of the mineralized zone at Igor," stated Mr. Botha. "The drill hole data from this year will be used to expand and enhance the resource number."

Samples were prepared and analyzed by ALS Chemex, Vancouver. Samples are crushed, pulverized and digested in a four-acid solution and all elements, but gold were analyzed by ICP methods. Gold was analyzed by Fire Assay and ICP-AES.

Exploration in the Wernecke Uranium District 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 can maintain a 75% working interest in the highly prospective Igor property, located in the Wernecke Uranium District, Yukon, by completing a bankable feasibility study on the Igor property by December 31, 2012. Wernecke Uranium properties include numerous iron-oxide copper-gold-uranium (IOCG-U) and 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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