VANCOUVER, BC (October 29, 2010) – Cache Exploration Inc (TSX-V: CAY) is pleased to announce that the Company has closed a flow-through private placement of $167,125 subject to final regulatory approval. The Company has received conditional approval from the TSX Venture Exchange dated September 23, 2010.

The financing represents 477,500 units at $0.35. Each unit consists of a common share plus a warrant exercisable at $0.40 for a period of 24 months from date of closing. The warrants issued in this financing include 353,500 warrants expiring September 23, 2012 and 124,000 warrants expiring October 25, 2012. There are 12,184,500 common shares of Cache issued and outstanding including the 477,500 issued in this financing.

Finder’s fees of up to 10% in non flow through units equal to 43,750 units will be payable to three individuals upon final regulatory approval.

Proceeds of this flow-through financing will be used to fund Canadian exploration expenditures of Cache. Cache has commenced a diamond drill program at the Long Lake Property in New Brunswick and intends to commence a diamond drill program this year at the Welsford REE Properties after completion of drilling at Long Lake (October 25, 2010 news release).

Cache has received a New Brunswick Junior Mining Assistance Program (NBJMAP) grant of $40,000 on the Welsford REE Properties and $45,000 for the Long Lake Property. 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 per grant. The NBJMAP provides valuable assistance which increases the probability of finding economically viable mineral resources in New Brunswick.

Additional information concerning Cache Exploration is contained in documents filed by Cache Exploration with securities regulators, available under the company's profile 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.}