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TORONTO, CANADA – January 30, 2012 – Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V:CAY), is pleased to announce that the audited financial statements for the fiscal year ended September, 2011 and the associated Management Discussion and Analysis have been filed on SEDAR.
Highlights include: As at September, 2011:
| -Cash |
$ 956,292 |
| -Current assets |
$ 1,139,599 |
| -Working Capital |
$ 870,258 |
For the twelve month period ended September, 2011:
| -Increase in Deferred Exploration |
$ 1,286,206 |
| -General and Administrative burn rate/month |
$ 32,480 |
| (excludes non-cash stock based compensation) |
| -Cash received in private placements |
$ 1,643,400 |
| -Cash from warrant exercise |
$ 462,200 |
| -Cash from stock option exercise |
$ 70,000 |
The Company expects to develop a drill plan for the Welsford REE Properties after an evaluation of the awaited results from the November-December 2011 trenching program.
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, and the Nunavut REE Properties. The Company 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
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Neither The TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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