Cache Acquires Rockbridge Minerals Inc. PDF Print E-mail

TORONTO, CANADA – June 6, 2011 – Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V:CAY)(“Cache”) is pleased to announce that the Company has signed a Share Purchase Agreement dated June 6, 2011 with Rockbridge Resources Inc. (TSX-V: RBE) (“RRI”) under which Cache may purchase 100% of the common shares of Rockbridge Minerals Inc. (“RMI”) for $275,000.

The agreement provides for the payment of the $275,000 by the issue of 1,100,000 units of Cache to RRI. Each unit will consist of one common share of Cache plus one full common share purchase warrant exercisable for twenty-four months. The warrants will be exercisable at $0.30 for the first twelve months and at $0.40 for the second twelve months. The common shares issued will be subject to a legend of up to 270 days from date of close.

The agreement is subject to regulatory approval and a close on or by June 30, 2011.

RMI currently owns the following mineral properties:

  • 100% of 343 claims covering approximately 20,923 acres in Newfoundland, which are adjacent to the Cache Cross Hills REE Properties, of which 27 claims are subject to a pre-existing 2% Net Smelter Royalty with a right to reduce the NSR by 1% for $1,000,000 and the additional 316 claims to become subject to a 2% Net Smelter Royalty to RRI with a right to reduce the NSR by 1% for $1,000,000

  • 100% of 8 claims in 3 parcels covering approximately 8,428 acres in the Eskey Creek/ Stewart region of British Columbia including the 3 claim 3,360 acre Stewart South Property, the 4 claim 4,349 acre Quinn Eskay Property, and the single claim 719 acre GSM Property (these BC properties are not subject to any pre-existing royalties)

  • 100% of the 9 claim 4,680 acre White Gold Property in the Yukon (not subject to any pre-existing royalty)

At completion of this transaction, RRI will own the right to up to 2,200,000 common shares of Cache representing 9.05% on a partially diluted basis and will own a 2% NSR on all the Newfoundland claims included which were not subject to a pre-existing NSR.

Mr. Brown, CEO, states: “Cache is honoured to have been selected by Rockbridge Resources to continue to advance the properties of Rockbridge Minerals which were deemed not to be core assets to the oil and gas focus of Rockbridge Resources. As a significant shareholder and royalty owner, Rockbridge Resources have positioned themselves to continue to benefit from the exploration potential of these properties. Cache intends to pursue additional acquisitions that we feel will consolidate the junior exploration REE sector and enhance our REE portfolio.”

Additional information is 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.