| Cache Exploration Update on the Welsford REE Properties |
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VANCOUVER, BC (June 24, 2010) – Cache Exploration Inc. (TSX-V: CAY) is pleased to provide an update to the 2010 work program on the Welsford REE Properties in New Brunswick. Dr. David Lentz, P.Geo. is a Qualified Person as described in National Instrument 43-101 and is responsible for the technical information contained in this news release. The Company’s exploration’s team has completed a Phase II surficial sampling program at the Welsford Rare Earth Properties. This program is a continuation of the 2009 surface sampling and scintillometer survey completed by the property option vendor. The field sampling of the Phase II exploration program covering the 130 claims of the Welsford REE Properties included a total of 59 stream sediment samples at approximately 500 metre intervals taken along 10 streams cutting entirely across the two contiguous properties. In addition, 14 heavy mineral concentrates were collected from the lower part of these streams along the claim boundary to assess the potential in the headwaters to each stream. All of these samples have been submitted to ACTLABS in Ancaster, Ontario for processing and Instrumental Neutron Activation Analysis (INAA) with certified reference material standards for QA/QC assessment. These results are pending. The program of radiometric prospecting on the Welsford REE Properties is continuing with the Phase III soil sampling program based on the favourable results from the 2009 Phase I program of REE determination in soil samples over the region. The Phase III program will include the Inner Welsford REE Property and will include a geological compilation and mapping component of historical drilling and exploration data from two historical drill holes which were drilled by Annapolis Gold Fields in 2002. These encountered rare earth mineralization as noted in the April 15 release. The Phase II and III work results will be used by Cache to develop drill targets for a follow up 2010 drill program for which Cache is pleased to report that the company has received a New Brunswick Junior Mining Assistance Program (NBJMAP) grant of $40,000 or 50% of eligible costs up to $80,000. The NBJMAP program is a financial assistance program for Junior companies, and provides up to 50% of eligible costs for mineral exploration programs to a maximum of $50 000. The NBJMAP provides valuable assistance which increases the probability of finding economically viable mineral resources in New Brunswick. Dr. David Lentz, P.Geo, and Cache Director states: "a review of the historical exploration data, our results from the Fall 2009 surficial soil and ground sampling and scintillometer survey, and our current ongoing soil and ground sampling and scintillometer survey points to the potential of the presence of a cupola of rare earth mineralization at depth within the Welsford Igneous Complex." Cache Exploration has engaged the services of Dr. Sheila Waters P.Geo to review data from historical mapping, trenching, and drilling that has now been compiled into an ArcGIS format so as to enhance recent exploration programs at the property. This data has been compiled into a comprehensive library of exploration on the property and utilized to identify trenching and drill targets for the next phase of the 2010 exploration program. Cache Exploration is a well funded company with a focus on exploring for REE deposits. In addition to the Welsford Properties in New Brunswick, Cache has the Cross Hills REE Property in Newfoundland which is adjacent to the Rockbridge Resources REE Property and the Louil Hills REE Property. All four Cache REE properties have proximity to available infrastructure and are considered to have excellent potential for rare earth mineralization.and Additional information concerning Cache Exploration is available at www.sedar.com and on the Cache website at www.cacheexploration.com. For additional information please contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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