| Cache Completes Nunavut Exploration Programs |
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TORONTO, CANADA – August 31, 2011 – Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V:CAY), is pleased to announce that a preliminary geological assessment and rock sampling program was completed during July and August at each of the six prospecting permit areas in Nunavut. 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. Cache was granted six prospecting permits in February 2011 which cover 207,874 acres in the south-east portion of Nunavut (see attached map). The permit applications were filed in December 2010 to cover areas which are known to host airborne radiometric anomalies and Th-U occurrences as researched by Cache in the Geological Survey of Canada (GSC) database. Each Th-U occurrence has the potential to host associated anomalous rare earth elements (“REEs”) based on analogies with other systems in the TransHudson Orogen. The permit areas cover three main targets that were prospected by two geologists with field assistants from Baker Lake in Nunavut and Tadoule Lake and Lac Brochet in Manitoba. The work programs were conducted between July 15th and August 19th, 2011. The program goal was to verify the occurrences with the aid of a RS-125 spectrometer and sample them in order to evaluate the potential of each permit area. Prospecting permits 8183 to 8185 These three prospecting permits, located east of Baker Lake, are host to a GSC reported U-Cu mineral occurrence and surround a GSC reported U-Cu-Zn-Th mineral occurrence along with twelve other U-related occurrences that are associated with Cu, Mo, Zn, Pb, Ag, or Th. The U-Cu mineral occurrence south of Christopher Island contained an enriched zone, reporting 10,000 cps and above, that is within a 2.0 m x 3.5 m area surrounded by elevated readings of greater than 1,000 cps in an area that is of 15 m x 20 m. Yellow U alteration staining was observed (possibly uranophane). Other sites were prospected and a total of 38 rock samples were collected from these permit areas. Prospecting Permits 8186 and 8187 These two prospecting permits, located approximately 120 km north of Baker Lake at the north end of Tehek Lake, are host to three U occurrences and one U-Th occurrence. It was determined that the U, Th, and potential REE mineralization is concentrated along an unconformity between the Archean granitic and Archean metasediment units. The most radiometric zone is controlled by sheared quartzite layers between 10 cm and 75 cm thick. This anomalous zone was determined to be approximately 75 m x 50 m in size with reported radiometric values of up to 31,000 cps in an area 0.5 m x 25 m. A total of 32 rock samples were collected from these two permit areas. Prospecting Permit 8188 This prospecting permit is located approximately 60 km north of the Nunavut – Manitoba border. The area was visited by the Cache field crew to locate and evaluate known mineralization identified by previous historical work at the property. There is a known U-Th occurrence on another company’s claims at the western border of this permit. The permit area is mainly granites that are thought to be a part of the Hudson Granite Suite, which is a mid-crustal granite that is relatively unfractionated. The crews determined that the granites in the area had slightly higher radiometrics (approx. 600 cps) with anomalies up to 2,000 cps. Areas highlighted in historical assessment reports indicate up to 10,000 cps anomalies in boulders. The Cache crew did not locate anything with such elevated values. A total of 10 samples were taken from throughout the prospecting permit. All rock samples will be sent to Activation Laboratories’ preparation facility in Fredericton, New Brunswick with the appropriate certified standards reference materials. They will undergo analysis by instrumental neutron activation (INAA); no further recommendations for the REE potential of these permit areas until the rock geochemistry is returned. Mr. Brown, CEO, states: “We are very proud of the work programs completed by our team on these properties. The area presented challenges in remoteness and logistics that were all tackled successfully by our exploration team. It proved to have been a valuable asset and a worthwhile effort to have recruited team members from the Nunavut People and the Dene First Nation familiar with the natural environment of the area. Exploration on traditional lands is a partnership with the people of those lands to advance and develop them in a manner that benefits all parties while respecting the environment. The potential success of making a discovery is always in the hands of the exploration team directing and completing the exploration programs. We look forward to receiving the assay results.” Cache Exploration is a well funded exploration company with a focus on exploring for REE deposits. Cache is exploring the Welsford REE Properties in New Brunswick, the Cross Hills REE Property and Cross Hills Northern IOCG Property in Newfoundland, the Louil Hills REE Property in Newfoundland, and the Nunavut REE Properties. The Company recently acquired a 100% interest in Cache Minerals Inc. (“CMI”) (formerly Rockbridge Minerals Inc.) through which it now controls the CMI Cross Hill REE Properties adjacent to Cache’s Cross Hills Properties, the 3,360 acre Stewart South Property in BC, the 4,349 acre Quinn Eskay Property in BC, the 719 acre GSM Property in BC, and the 4,680 acre White Gold Properties in the Yukon. All of the Cache REE properties are considered to have excellent potential for rare earth element mineralization. The BC and Yukon properties provide a diversity of exposure to exploration potential for copper, silver, and gold. 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
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