Cash Minerals Ltd.
TSX VENTURE : CHX

Cash Minerals Ltd.

August 17, 2006 14:49 ET

Cash Minerals Updates Uranium Exploration Program

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 17, 2006) - Cash Minerals Ltd. (TSX VENTURE:CHX) advises that fifteen holes measuring approximately 1,900 metres have been completed at the Lumina uranium property in the Wernecke Mountains, Yukon, with two further holes currently underway. A total of fourteen holes measuring approximately 2,000 metres have been completed on the Igor property (IOCG target). A further three to five holes measuring approximately 1,500 metres are planned at Igor following information currently being compiled by Dr. Geordie Mark on a 3-Dimensional Inversion model of gravity data completed on this property.

With respect to the first holes drilled at Lumina, due to regulations under the Nuclear Safety and Control Act (NSCA) which are enforced by the Canadian Nuclear Safety Commission (CNSC), some of the drill core must be assayed in the Level Three licensed facility at the Government of Saskatchewan's Geoanalytical Laboratories in Saskatoon. The combination of this requirement, together with a backlog of samples awaiting testing for uranium mineralization, has resulted in a delay in the completion of assay results for the Lumina drill cores. While Cash Minerals is unable to provide a definitive timeline for the release of assay results, it is anticipated that laboratory analyses from the first set of holes drilled at Lumina may be completed by the end of August, 2006.

Plans are also currently underway to erect a winterized camp in order that the drill season may be extended, enabling the Company to continue on these highly prospective uranium targets in the Yukon. A full spectra helicopter borne radiometric survey is set to commence shortly, together with an airborne gravity survey and a series of high-resolution satellite photographs (HSSP) over all prospective uranium targets in the area. The HSSP will assist in determining linear and folding rock structures and will provide key data for the completion of a comprehensive and efficient mapping exercise which will integrate all geophysical data.

About Cash Minerals Ltd.

Cash Minerals (www.cashminerals.com) 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.

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