November 1, 2010 – Vancouver, British Columbia – Cache Exploration Inc. (TSXV: CAY) announces that it has received subscriptions for a private placement of 2,428,571 flow-through units at a price of $0.35 per unit to raise gross proceeds of $850,000. Each flow-through unit will consist of one flow-through common share and one transferable share purchase warrant. Each warrant will entitle the holder to purchase one non-flow-through common share of the Company for twenty four months from the closing date, at a price of $0.40 per share. The securities issued in connection with this private placement will have a hold period of four months from the date of issuance.

The Company intends to pay a cash finder’s fee of 8% of the gross proceeds raised in the private placement. The cash finder’s fee is not subject to H.S.T.

Closing of the private placement is subject to regulatory approval. The funds will be used for further exploration of the Company’s properties in New Brunswick, Newfoundland, and British Columbia and for general working capital.

Cache Exploration Inc. is an exploration company with a focus on exploring for REE deposits. The Company is currently diamond drilling at the Long Lake Property in New Brunswick and intends to commence a subsequent diamond drilling program in 2010 at the Welsford REE Properties in New Brunswick. In addition to the Welsford REE Properties and the Long Lake Property, the Company has the Bluff Lake Property in British Columbia, the Louil Hills REE Property in Newfoundland and the Cross Hills REE Property in Newfoundland (located adjacent to the Rockbridge Resources Inc. REE Property). All Cache REE properties have proximity to available infrastructure and are considered to have excellent potential for rare earth mineralization.

Additional information concerning Cache Exploration Inc. is contained in documents filed by Cache Exploration with securities regulators, available under the Company's profile on SEDAR 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 .