Cardinal Provides Details About Its Pending RTO.

LAS VEGAS -- Cardinal Minerals Inc. (OTCBB:CDIN) Pursuant to its recent announcement regarding a pending reverse take-over by Universal Food and Beverage Co. Inc. of St. Charles, Ill. ("Universal"), Cardinal is pleased to report the following information as supplied by Universal.

Universal has executed a Performance Agreement with the
    Commonwealth of Virginia providing for grants, training
    reimbursement and hiring assistance for 151 new jobs as part of a
    $6.9 million expansion by Universal in Grayson County, Southwest
    Virginia. Universal, a newly formed company, is acquiring the
    assets of Independence Water Group LLC located in Grayson Springs,
    Virginia. Universal plans a significant expansion to the beverage
    facility as well as to the variety of products it will offer.

    "Universal Food and Beverage Company and Grayson County are a
    perfect match," said Governor Warner of Virginia. "The company
    tapped into a Southwest Virginia locality that can meet all of its
    specialized production needs: a supportive business climate, an
    energized work force, and the natural resources needed to produce
    a superior product."

    Universal was established as a developer and producer of
    "value-added" non-carbonated beverages targeting the specific
    health and nutrition needs of adolescents, teens young adults,
    adults and seniors. The products are shelf stable and encompass
    vitamin-enhanced waters through nutriceuticals and other potential
    medical products. In addition to the Virginia operation, Universal
    has established a pilot product processing operation in Beloit,
    Wisconsin to facilitate the development of these products.

    Through the Phase I start-up in September, the company sold and
    shipped 72,000 cases of product from its Virginia facility, which
    was 27% over plan. During this time, a second shift was
    implemented to continue the process of building inventories while
    setting up new equipment and improving efficiencies. Phase II of
    the project, scheduled for completion in January 2005, includes a
    "hot-fill" operation which will allow capacity expansion for
    co-packaging as well as production of several higher quality
    products. In continuing work towards Phase III, the company is
    designing a state-of-the-art beverage production facility that
    will have the flexibility to produce the varied products desired
    by the company and its clients.

    Presently Universal is finalizing the Asset Purchase Agreement
    with Independent Water Group, LLC. Universal currently has 46 SKUs
    including flavored water, vitamin value added flavored water, 10%
    juice product, no-carb no-calorie flavored water and isotonics.
    The pilot processing operation in Wisconsin is able to produce
    high acid and low acid products, fluid and viscous products, and
    products with particulate, affording Universal the ability to
    satisfy the needs of any clients with any fluid food product. The
    Company has engaged Holland & Knight Attorneys at Law as its
    corporate counsel and the accounting firm of O'Neil and Gaspardo.
    By mid November, the corporate offices will be relocated to a new
    facility in St. Charles, Illinois.

    On September 28, 2004, Cardinal entered into a Share Purchase
    Agreement and Plan of Reorganization with Universal for the
    exchange of all the outstanding shares and other equity based
    securities for shares of common stock, $.01 par value, of
    Cardinal. Upon completion of the share exchange by mid December,
    Universal will become a wholly owned subsidiary of Cardinal and
    the shareholders of Universal will become shareholders of
    Cardinal. The Universal shareholders collectively will own the
    majority of the post-transaction company. Consummation of the
    transactions are conditioned upon a number of typical conditions
    and several requirements specific to the transaction, among which
    are: (i) Cardinal affecting a one (1)-for ten (10) reverse stock
    split, (ii) Cardinal having changed its corporate name to
    "Universal Food and Beverage Company," and (iii) joinder of each
    of the Universal shareholders to the Reorganization Agreement.

This press release is provided for information purposes only and is not intended to constitute an offer to sell or a solicitation of an offer to buy securities. The Company and its management do not take responsibility for the adequacy, accuracy or completeness of the information contained herein. Assumptions contained herein involve risks and uncertainties including but not limited to Cardinal Minerals Inc.'s ability to complete on the acquisition. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. The Company has no obligation to revise or update the statements made herein to reflect current events or circumstances or the occurrence of unanticipated events. Readers are urged to scrutinize the Company's public filings with the SEC in this regard. The common shares of the Company are registered pursuant to the United States Securities Act of 1934.