Cavan Ventures Inc.

Cavan Ventures Inc.

March 04, 2011 16:41 ET

Cavan Signs LOI For Acquisition of Crown King Silver Project in Arizona

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2011) - Cavan Ventures Inc. (TSX VENTURE:CVN) ("Cavan"), a public mineral exploration company based in Vancouver, British Columbia, is pleased to announce that it has entered into a Letter Of Intent ("LOI") with World Fortune Enterprise Inc. ("WFEI"), to acquire from WFEI a sixty-five percent (65%) interest in the mineral and surface rights to certain patented and U.S. Bureau of Land Management mining claims (the "BLM Mining Claims"), which are prospective for silver, near the town of Crown King, in the Peck Mining District of Yavapai County, Arizona.

The parties will proceed to enter into and execute a definitive agreement with respect to the acquisition by Cavan of a 65% interest in the BLM Mining Claims. Cavan will issue a news release to provide an update to its shareholders in connection with the execution of the definitive agreement.

Completion of the transaction is subject to a number of conditions, including TSX Venture Exchange acceptance and, if required, shareholder approval. There can be no assurance that the transaction will be completed as proposed or at all.

On behalf of the Board of Directors:

Ming Chiang, President & CEO

For further information please visit our website at

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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