Cash Minerals and Dynamite Resources Complete Acquisition of the Mike Lake/Kyrgy

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Cash Minerals and Dynamite Resources Complete Acquisition of the Mike Lake/Kyrgy

posted on May 07, 2009 03:07AM

May 6, 2009

Cash Minerals and Dynamite Resources Complete Acquisition of the Mike Lake Property and Kyrgyz Properties

TORONTO, ONTARIO--(Marketwire - May 6, 2009) -

NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES

Cash Minerals Ltd. ("Cash Minerals")(TSX VENTURE:CHX) is pleased to announce that it has completed its acquisition from Dynamite Resources Ltd. ("Dynamite") of a 100% interest in the Mike Lake property located in the Dawson Mining District of Yukon and has acquired Tau Mining Limited (UK) ("Tau"), which indirectly holds the Kokomeren, Barskaun, Arabelsu and Moldatau mining licences located in the Kyrgyz Republic (the "Acqusition").

The Mike Lake property consists of 319 mining claims covering an area of approximately 68 square kilometres located in the Tintina Gold Belt, Yukon Territory (the "Mike Lake Property"). The Kokomeren, Barskaun, Arabeslsu and Moldatu properties (collectively the "Kyrgyz Properties") represent four mineral licences located in the Kyrgyz Republic.

In consideration thereof, Cash Minerals has issued 22,750,000 common shares of Cash Minerals (the "Cash Shares") and 11,375,000 common share purchase warrants of Cash Minerals (the "Cash Warrants") (the Cash Shares and Cash Warrants collectively referred to as the "Cash Securities") to Dynamite. Each Cash Warrant entitles the holder thereof to acquire one Cash Share at an exercise price of $0.10 at any time prior to May 5, 2011. The Cash Securities have been distributed to Dynamite shareholders as at the close of business on May 5, 2009 as part of the plan of arrangement between Dynamite and Avion Resources Corp. that was completed on May 6, 2009 (See Dynamite Press Releases dated May 6, 2009 and March 19, 2009.)

About Cash Minerals

Cash Minerals is a Canadian-based energy company focused on uranium and coal exploration.

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