Cash Minerals Ltd.

Cash Minerals Ltd.

August 02, 2006 08:00 ET

Cash Minerals Signs Exclusive Agreement with IOCG Specialist to Work on Yukon Uranium Properties

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 2, 2006) - Cash Minerals Ltd. (TSX VENTURE:CHX) today announced that an agreement has been signed with Dr. Geordie Mark (Global Discovery Pty Ltd) of Melbourne, Australia to provide exclusive consultation services to the Company on its Iron-Oxide-Copper-Gold (IOCG) uranium assets in the Yukon Territory.

"In light of the similarities between our IOCG uranium targets in the Yukon and the Olympic Dam and Ernest Henry deposits being mined in Australia, we are extremely pleased that Dr. Mark has accepted this key position. Our focus has been to assemble a highly experienced exploration team in order to achieve optimal results and increase shareholder value. Dr. Mark's expertise adds depth to the exploration team and will contribute significantly to the advancement of our uranium projects," said Basil Botha, President and Chief Executive Officer of Cash Minerals Ltd. "Uranium exploration requires a highly specialized and experienced geological team and I am confident that we have achieved this."

Dr. Mark specializes in the genesis and interpretation of hydrothermal IOCG geological systems, and has over 12 years of field and research experience relevant to the exploration and interpretation of IOCG deposits in Australia, Europe and Canada. He has written and contributed to numerous technical papers and reports on the subject, and has also conducted training courses and workshops.

Together with the other members of the exploration team, Dr Mark will provide direction in identifying additional uranium targets and will have a key role in developing the 2007-2008 exploration program. The exploration team will use air magnetic, gravity and radiometric surveys, as well as assay results from 2006 drilling, to determine additional prospects. Dr. Mark is currently in the Yukon conducting field work at Igor, Bond and Steel, as well as other prospective properties that were recently staked following an air magnetic survey.

Mr. Botha continued, "The advancement of our uranium exploration activities and the further expansion of our uranium claims in the Yukon continue to be major priorities for Cash Minerals, and I am confident that we have assembled a high calibre team that has the ability to achieve this."

As noted previously, Cash Minerals is currently drilling on two uranium properties in the Yukon. A second drill is scheduled to be added to the Lumina property (Jack Flash) on the south side of the mountain where radioactive outcrop has been discovered. This outcrop is directly adjacent to the fault, which forms a gully that is filled with broken cover rock.

About Cash Minerals Ltd.

Cash Minerals ( is an emerging publicly listed resource company. Under an agreement with joint venture partner Twenty-Seven Capital Corp., Cash Minerals has the option to earn a 75% interest in one or more of the eight uranium prospects in the Yukon. These prospects include four IOCG prospects and an attractive unconformity-related uranium target all located in the Wernecke Mountain region of north-east Yukon. The company is also engaged in exploring and developing coal properties in the Yukon, and is involved in the development of a coal-to-liquids (CTL) project in China, which uses the Fischer-Tropsch process to convert coal into clean-burning diesel fuel.

Should you wish to receive Company news via email, please email 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