Cash Minerals Announces Acquisition of Uranium Properties.

TORONTO -- CASH MINERALS LTD. (TSX VENTURE:CHX) has entered into an agreement to acquire an option on a package of significant Uranium Properties located in the Yukon Territory. The properties, which are located in the Wernecke Area will further the Company's vision of becoming an energy company with projects in Coal and Uranium. The Company is assuming the obligations of Forbes & Manhattan, Inc. which had secured an option on the properties from the current property owners, Strategic Metals Ltd. (SMD - TSX Venture Exchange). In exchange for the transfer of all of Forbes' rights under the agreement, the Company is required to assume all of Forbes' obligations, to make payments to Forbes of $130,000 immediately and to issue Forbes 1,500,000 common shares of Cash Minerals Ltd.

"We are excited about this acquisition." stated William Clarke, the President and C.E.O. of the Company. "Combining these uranium properties with our coal properties is a further step in the process of establishing Cash Minerals as an important player in the energy sector in the Yukon."

There are six significant uranium projects in Yukon Territory. Four of the projects (Pterd, Igor, Bond and Steel) are in the Wernecke Mountain area of northeastern Yukon, another (Pedlar) is in west-central Yukon and the sixth (Alle) is in southeastern Yukon. All of the projects host uranium showings that were aggressively explored in the late 1970s and early 1980s by majors before uranium prices dropped. A NI 43-101 report is in progress on all six properties.

Pterd consists of two claims (more are being staked) located 200 km northeast of Mayo and 5 km east of a small gravel airstrip. Abundant boulders with fracture filling pitchblende are scattered across a 150 m width for a length of 1,000 m along the west side of an alpine glacier in a north facing cirque. The mineralized boulders typically range between 5 cm and 2 m in diameter. Representative specimens taken by Wernecke Joint Venture (Chevron and Aquitaine) from atop the glacier assayed 2.04, 1.36 and 1.61% U3O8 while a sample taken from a gully at the head of the cirque returned 7.67% U3O8.

Igor, Bond and Steel are hosted in approximately 1,600 ma iron oxide rich breccia bodies that show numerous textural and mineralogical similarities to the giant Olympic Dam deposit in Australia. Steel lies 155 km northeast of Mayo and 2 km from a gravel airstrip. Igor is situated 27 km northwest of Steel and Bond 35 km to the southwest.

The uranium occurrences at Igor are covered by four claims and consist of finely disseminated pitchblende in chalcopyrite rich pipes within the breccia body. Wernecke Joint Venture drilled 22 holes between 1979 and 1982. That work produced numerous promising intersections including a hole that averaged 0.088% U3O8 with 4.74% copper across 19.7 m and a second drilled perpendicular to the first, which graded 0.089% U3O8 with 6.14% copper across 10.6 m.

There are currently eight claims at Bond. The uranium occurs as pitchblende with iron oxide and minor copper in a highly strained phase of the breccia. The surface showing is in a broad valley and consists of numerous radioactive lenses within a 30 by 45 m area surrounded by glacial till, residual soil and creek gravel. Eldorado Nuclear drilled 18 shallow holes with a small drill in 1976 and 1977. These programs outlined a shallowly dipping zone that is open to depth and in one direction along strike. The best hole returned two intersections which averaged 0.173% U3O8 across 2.23 m and 0.092% U3O8 across 7.41 m, respectively.

Steel is potentially one of the most prospective Olympic Dam type breccia targets in the Wernecke Mountains. The property consists of 16 claims. The main target lies in a wide, till and gravel covered valley. Radiometric prospecting on the flanks of the valley has identified pitchblende showings. Specimens from these showings assayed in the range of 0.05 to 0.25% U3O8.

Pedlar is located 120 km south of Dawson City and comprises 36 claims. It was discovered and briefly explored by Eldorado Nuclear in 1977. The claims cover a small Cretaceous granite stock cutting feldspar-muscovite schists of the Yukon-Tanana Terrane. Streams draining the south side of the stock have yielded numerous strongly anomalous uranium values from water (up to 304 ppb) and silt (up to 550 ppm) samples. Limited prospecting discovered a vein or dyke of magnetite rich material that assayed 0.138% U3O8.

Alle is a 16 claim property located 100 km northwest of Watson Lake and 45 km north of the Alaska Highway. It covers four showings discovered by Eldorado Nuclear in 1979 and later restaked by Central Electrical Generating Board Exploration (a Japanese utility) in 1985. The showings consist of pitchblende localized in pegmatic phases of a large granitic intrusion of Cretaceous age, and nearby secondary uranium showings believed to have been deposited in faults by groundwater. A specimen of pegmatitic material assayed 2.1 % U3O8 with high values for rare earth elements (total 1.84%), niobium (1.59% Nb2O5) and tantalum (0.13% Ta2O5).

To earn a 50% interest in these properties Cash must make cash payments to Strategic Metals totaling $170,000 on or before December 6, 2005 and an additional $200,000 on or before December 6, 2006. The Company must also have minimum work expenditures on the properties totaling $5,000,000 by December 6, 2007 ($1,300,000 to be spent on or before December 6, 2005, $1,700,000 on or before December 6, 2006 and the remaining $2,000,000 on or before December 7, 2007)

The option agreement allows Cash to earn an additional 25% interest in any or all of the six specific properties by making a $1 million cash payment for each property where it elects to increase its interest, and by producing a bankable feasibility study for that property. The agreements referred to above, including the issuance of any common shares and cash payments, are subject to regulatory approval.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cash Minerals Ltd. (TSX VENTURE:CHX)