Cavan Ventures Inc.
TSX VENTURE : CVN

Cavan Ventures Inc.

June 19, 2008 22:51 ET

Cavan Ventures Inc. Announces Closing of Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 19, 2008) - Further to the news release of June 13, 2008, Cavan Ventures Inc. ("Cavan") (TSX VENTURE:CVN) is pleased to announce the completion of its subscription for the previously-announced non-brokered private placement, by issuing 900,000 units at a price of $0.35 per unit, for gross proceeds to Cavan of $315,000. Each of the units will consist of either one flow-through share or one non flow-through common share, plus one non flow-through non-transferable share purchase warrant entitling the holder to purchase one additional common share at a price $0.50 per share for a period of two years from the issue thereof.

In connection with the non-brokered private placement, Cavan paid commissions and finders' fees to Fortune Creek Investments Inc. in an amount equal to 8.5% of the proceeds raised by them in this non-brokered private placement, and granted compensation options entitling them to purchase up to 90,000 units, representing 10% of the number of units sold by them in the private placement. Each compensation option entitles the holder thereof to acquire one unit, consisting of one common share of Cavan and one warrant, at a price of $0.35 per unit for a period of two years from the issuance thereof. Each warrant entitles the holder thereof to purchase one additional common share at a price of $0.50 per share for a period of two years from the issuance thereof.

The net proceeds of this non-brokered private placement will be used for initial exploration work program on the newly acquired Kisgegas Property and for general corporate working capital.

All common shares, flow-through shares, and warrants comprised in the units issued pursuant to this closing will be subject to a four-month "hold period" under the policies of the TSX Venture Exchange and applicable securities legislation.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Cavan Ventures Inc. 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,

CAVAN VENTURES INC.:

Ming Chiang

The TSX Venture Exchange (the "Exchange") has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Closing of this non-brokered private placement is subject to Exchange approval.

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