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Message: Closes Shares for Debt Settlement
| February 18, 2009 |
| Cash Minerals Closes Shares for Debt Settlement |
| TORONTO, ONTARIO--(Marketwire - Feb. 18, 2009) - Cash Minerals Ltd. (TSX VENTURE:CHX) is pleased to announce that it has closed its previously announced debt settlement by issuing 1,300,000 common shares in full settlement of $72,348.05 in outstanding net debt. These shares are subject to a statutory hold period that expires on June 19, 2009. About Cash Minerals Cash Minerals is a Canadian-based energy company focused on uranium and coal exploration. Under an agreement with joint venture partner Mega Uranium Ltd., Cash Minerals can maintain a 75% working interest in the highly prospective Igor property, located in the Wernecke Uranium District, Yukon, by completing a bankable feasibility study on the Igor property by December 31, 2012. Wernecke Uranium properties include numerous iron-oxide copper-gold-uranium (IOCG-U) and structurally-controlled hydrothermal uranium targets. The Company also holds a measured resource of 52.5 million tonnes of high volatile "B" bituminous coal (refer to NI 43-101 report dated December 21, 2005). This resource is located on a portion of the Division Mountain property, which occupies less than five percent of Cash Minerals' total coal leases in the Yukon. |
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