VANCOUVER, BRITISH COLUMBIA, Oct 07, 2010 — Cavan Ventures Inc., a public mineral exploration company based in Vancouver, British Columbia, is pleased to announce that is has completed its 2010 summer exploration program on the KM Project located approx. 60 kilometres north of Hazelton, British Columbia.
This year’s programme consisted of geological mapping, trenching, and sampling which concentrated on the previously underexplored west-central portion of the property. In addition a mapping program was conducted focusing on the incipient structures which may control sill emplacement and gold mineralization in area.
Select results from the 2010 exploration programme conducted on the underexplored west-central portion of the property are listed below:
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Sample ID Au ppb Ag Cu Pb Zn
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931253 294.7 ppb 286 gm/t 0.006% 2.90% 0.02%
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931278 3.4 ppb 9 gm/t 0.001% 0.21% 1.08%
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931279 8.9 ppb 895 gm/t 0.65% 21.87% 25.56%
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931282 66.8 ppb 83 gm/t 1.71% 0.03% 0.02%
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931309 0.5 ppb 278 gm/t 927.1 ppm 6576.4 ppm 937 ppm
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931310 78.4 ppb 3591 gm/t 1.18% 0.74% 1.54%
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931316 39.8 ppb 1008 gm/t 0.53% 27.74% 15.24%
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931319 19 ppb 1529 gm/t 0.17% 44.13% 10.48%
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934401 2474.1 ppb 346 gm/t 1.29% 0.39% 0.02%
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934402 2407.1 ppb 409 gm/t 2.64% 0.17% 0.01%
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943403 1599.9 ppb 662 gm/t 7.08% 0.37% 32 ppm
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934405 392.4 ppb 61.5 ppm 1024.4 ppm greater than 5302 ppm
10000.0 ppm
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934406 132.6 ppb 100 gm/t 1.59% 0.23% 0.71%
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934408 669.3 ppb 2.9 ppm 0.006% 0.02% 0.04%
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934409 168.2 ppb 11 ppm 0.022% 0.14% 3.07%
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Ming Chiang, President & CEO of Cavan Ventures Inc. stated, “The exploration work carried out this summer has expanded the area of mineralized showings to an area of 10 square kilometers. We are very encouraged by these new results, and the company is currently reviewing the 2010 data in an effort to delineate diamond drilling targets.”
Technical information in this news release has been reviewed by Derrick Strickland, P. Geo., a qualified person as defined in NI 43-101.
Also, Cavan Ventures wishes to announce that, effective as of September 30, 2010, Ivan Cheong, has resigned from the Board of Directors of the Company. The directors and management of Cavan Ventures would like to thank Mr. Cheong for his contributions to Cavan Ventures since its inception and wish him the best in his future endeavors.
At this time, the Company is also pleased to announce that Mr. Harvey Lawson has joined the Company’s Board of Directors. Mr. Lawson has also been a director and/or officer of several public companies and is currently an officer and director of Trade Winds Ventures Inc. and World Organics Inc. and is a director of Resolve Ventures Inc. and Inlet Resources Ltd. Also, Mr. Lawson is the Corporate Secretary and a director of Crimson Falcon Capital, a publicly listed Capital Pool Company. Mr. Lawson holds a BSc. Econ (1970) from the London University and an MBA (1974) from the Manchester Business School.
“I am really excited to welcome Mr. Lawson to our Board, and I am confident that Mr. Lawson’s many years of experiences as director and officer in many public companies, will help our company tremendously in the near future,” said Mr. Ming Chiang, Chief Executive Officer of the Company.
The Company has also granted incentive stock options to a director of the Company to purchase 250,000 common shares in the capital of the Company, exercisable at a price of $0.15 per share for a period of five years. All options are subject to a four month hold period and are granted in accordance with the terms of the Company’s Stock Option Plan and the policies of the TSX Venture Exchange.
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.
If you would like to be added to Cavan’s update list please send an email to ming@cavanventures.com or Stan.Buchalter@buchalterconsulting.ca.
On behalf of the Board of Directors,
CAVAN VENTURES INC.
Ming Chiang, President & CEO Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ventures Exchange) accepts responsibility for the adequacy or accuracy of this release.
