Cavan Ventures Inc.
TSX VENTURE : CVN

Cavan Ventures Inc.

May 19, 2010 16:22 ET

Cavan Closes Final Tranche of the Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 19, 2010) - Cavan Ventures Inc. (TSX VENTURE:CVN) ("Cavan"), a public mineral exploration company based in Vancouver, British Columbia, is pleased to announce that it has completed the final tranche of its previously announced non-brokered private placement financing with Pacific Wally Capital Inc. ("Pacific Wally"). Cavan issued a total of 1,250,000 units ("Units") at a price of $0.20 per Unit for gross proceeds of $250,000 in this final closing. Each of the Units are comprised of one common share ("Common Share"), plus one half of one non-transferable share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase one additional common share at a price $0.30 per share for a period of two years.

The proceeds of the private placement will be used for general working capital purposes and to fund further exploration on the Company's B.C. properties. The Common Shares comprising the Units and any common shares issued upon the exercise of the Warrants are subject to a four month hold period expiring on September 20, 2010.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Cavan with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.

On behalf of the Board of Directors:

Ming Chiang, President & CEO

Neither the 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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