Cavan Ventures Inc.
TSX VENTURE : CVN

Cavan Ventures Inc.

July 07, 2011 09:30 ET

Cavan Ventures Announces High Grade Silver Assays at Arizona Joint Venture Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2011) - Cavan Ventures Inc. ("Cavan" or the "Company") (TSX VENTURE:CVN) announced today that its Joint Venture property with Q-Gold Resources Ltd. ("Q-Gold") near Crown King in the Peck Mining District of Yavapai County, Arizona (the "Joint Venture") has encountered "high-grade" silver (Ag) as well as high-grade gold (Au) assay results in the first batch of 33 samples from a "chip" sampling program across mineralized vein faces in adits and stopes of the historic Black Warrior Mine. Significant assay values for lead (Pb), zinc (Zn) and antimony (Sb) were also obtained. The Black Warrior Mine is under option to the Joint Venture, along with 3 additional patented mining claims and 22 adjoining U.S. Bureau of Land Management ("BLM") mining claims (collectively, the "Properties").

Peck Mining District:

The Peck Mining District is famous for its historic high-grade silver production, having produced, based on historical records, 1,374,000 ounces from 1875 to 1910, when Arizona was a "territory", before it became a state.

Assay Results:

The sampling program was conducted by Beck Environmental and Remediation Ltd., Arizona geologic consultants. Three "chip" samples taken across the face of three veins in an 1890's era stope on the upper section of the "Nora B" patented claim, which makes up a part of the historic Black Warrior Mine complex, yielded the following "high-grade" grade silver assay results, as well as gold in the one troy ounce per ton ("opt") range:

ASSAY PROCESS
ME-GRA2 ME-1CP61
Sample # Sample Width (m) Au
(ppm)
Au
(opt)
Ag
(ppm)
Ag
(opt)
Pb
(ppm)
Pb
(%)
Zn
(ppm)
Zn
(%)
Sb
(ppm)
Sb
(%)
BM-25 0.3 34.4 1.0 7,300 212.9 98,600 9.86 5,580 0.56 2,310 0.23
BM-26 0.5 37.0 1.1 8,140 237.4 126,500 12.65 3,400 0.34 2,670 0.27
BM-27 0.5 38.4 1.1 5,850 170.6 101,500 10.15 4,020 0.40 3,850 0.39

A second group of six "chip" samples taken from across the face of the hanging (upper) wall of a vein in a partially mined ore shoot in the Black Warrior Mine. Samples were obtained from exposed vein widths between 0.1 to 1.0 metre, with an average of 0.2 metres and yielded the following additional high-grade results:

ASSAY PROCESS
ME-GRA21 ME-ICP61
Sample # Au
(ppm)
Au
(opt)
Ag
(ppm)
Ag
(opt)
Pb
(ppm)
Pb
(%)
Zn
(ppm)
Zn
(%)
Sb
(ppm)
Sb
(%)
BM-1 9.26 0.27 4,150 121.0 185,500 18.55 31,200 3.12 3,290 0.33
BM-2 5.99 0.18 3,790 110.5 74,800 7.48 36,200 3.62 >50,000 >5.00
BM-3 15.25 0.45 6,240 182.0 187,000 18.70 27,800 2.78 4,710 0.47
BM-4 7.39 0.22 4,780 139.4 96,200 9.62 30,100 3.01 23,700 2.37
BM-5 3.85 0.11 1,690 49.3 47,300 4.73 21,700 2.17 >50,000 >5.00
BM-6 8.18 0.24 5,470 159.5 94,500 9.45 33,800 3.38 39,000 3.9

All samples were run by the ALS Chemex lab in Reno, Nevada using both ME-GRA 21 (fire assaying for precious metals) and MI-ICP61 (geochemical/ electrical analysis for 33 elements) assay processes. Assay results for the remaining 24 samples will be reported when all results are received. ALS Chemex will be retesting those samples in which lead and antimony values exceeded ME-ICP61 test limitations for actual metal content percent.

Geology:

The original Pre-Cambrian Volcanogenic Massive Sulfide deposits in the Peck District have undergone a more recent low-temperature, thermal event via solution, enriching the silver in the shoots. The mineralized zones are lenticular and / or podiform (ore shoots) tending to occur in groups of up to 8, and are separated by less than 200 feet laterally. The silver mineralization includes argentiferous galena, argentite, pyrargyrite and other antimonial silver minerals.

Airborne Survey:

The Joint Venture has contracted with Geotech Inc. (Toronto) for a 277 line-kilometer helicopter-borne "VTEM"/magnetic geophysical survey over its holdings in the Peck Mining District, scheduled for implementation in due course. After interpretation of the VTEM results, ground SP/ IP geophysical surveys will be run to more precisely delineate potential drill targets which are revealed within the extensive gold and silver-bearing vein systems in the Peck Mining District.

Joint Venture:

The agreement governing the Joint Venture, which remains subject to TSX Venture Exchange approval, entitles Cavan to earn a 65% participation interest in the Properties. Cavan President and CEO, Andrew Mah, remarked, "These rich gold/silver assays from the Black Warrior Mine represent high-grade ore which we believe was left behind by 19th Century miners using primitive mining methods. This gives us great encouragement as we apply modern exploration technologies in looking for gold and silver deposits remaining in the historic producing mines at Crown King."

Brian A. Beck P. Geo., a principal in Beck Environmental and Remediation Ltd., reviewed and has approved the technical content of this release.

Disclaimer:

"Historical records" referred to in this release have been examined but not verified by a "Qualified Person" under the requirements of NI 43-101 and therefore should not be relied on for any purpose.

About Cavan

Cavan Ventures Inc. is a Vancouver based TSX Venture Exchange-listed junior mining company with acquisitions in Canada and Arizona, USA. The Company's vision is to become a globally diversified resource company with strong focuses in gold, silver, and rare earth elements. Cavan strives to become a mid-tier producer through the acquisition and development of domestic and international mining properties.

On behalf of the Board of Directors:

Andrew Mah, Chief Executive Officer, President & Director

This document may contain "forward-looking statements" within the meaning of Canadian securities legislation. These forward-looking statements are made as of the date of this document and Cavan Ventures Inc. (hereinafter referred to as the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect management of the Company's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, commodity prices, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage.

In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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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