Cash Minerals Announces Review of Division Mountain Coal Property to Maximize Economic Potential

TORONTO, ONTARIO, Jun 06 (MARKET WIRE) --
Cash Minerals Ltd. (TSX VENTURE: CHX) today announced that it has
initiated a strategic review to reassess the economic potential of the
Company's Division Mountain coal property, located approximately 90 km
northwest of Whitehorse, Yukon Territory. The Division Mountain property
contains a measured resource of 52.5 million tonnes of high volatile "B"
bituminous thermal coal (refer to NI 43-101 report dated December 21,
2005).

"The aim of Cash Minerals' strategic repositioning plan is to assess all
of the Company's projects to determine which assets would provide a
greater return to shareholders," commented Greg Duras, President and CEO
of Cash Minerals Ltd. "Given the renewed interest in coal over the past
few quarters, management has decided to review the economic potential of
Cash Minerals' Division Mountain coal property. This will be the first
step in our plan to maximize shareholder value."

Work on the Division Mountain property over the next quarter will
include: upgrading the feasibility study to determine the potential for
export coal, given current coal prices; and revising the feasibility
study for the potential of a Division Mountain coal mine to provide
feedstock to a proposed mine-mouth power station (to be located adjacent
to the property). An exploration program will also be designed to
determine the potential for metallurgical coal on the property and to
upgrade and expand the existing resource.

The management team is also evaluating coal projects outside the Yukon,
in an effort to expand the Company's portfolio of coal assts. Cash
Minerals has been in the process of identifying and evaluating
opportunities to participate in additional coal properties. Cash Minerals
is involved in discussions with various government officials to monetize
their positions in coal assets and take advantage of the growing demand
for energy-related resources. Cash Minerals has expressed an interest in
purchasing a significant interest in various coal projects.

Division Mountain Property

The Division Mountain property is 100% owned by Cash Minerals and is
comprised of five coal leases covering 7.764 square kilometres and 30
territorial coal exploration licenses covering 3,600 square kilometres.

An independent feasibility study on a potential Division Mountain coal
mine was completed in 2006. The mine feasibility study was completed by
Norwest Corporation, a North American coal and energy engineering
consultancy firm based in Salt Lake City, Utah. Cash Minerals intends to
engage Norwest to update the feasibility study to reflect current
improved market conditions and opportunities.

In conjunction with the Division Mountain mine feasibility study, Cash
Minerals also commissioned an independent preliminary pre-feasibility
study on the potential mine-mouth coal-fired electricity generating plant
located adjacent to the mine. The study estimates an operating cost of
12.2 cents per kWh (2006 cost basis). This cost compares with Yukon
Energy's 2005 Residential rate of 13.74 cents per kWh and 2005 General
Service rate of 15.39 cents per kWh, which were reported in Yukon
Energy's 2005 Annual Report.

About Cash Minerals

Cash Minerals is a Canadian-based energy company focused on uranium and
coal exploration. Under an agreement with joint venture partner Mega
Uranium Ltd., Cash Minerals can maintain a 75% working interest in the
highly prospective Igor property, located in the Wernecke Uranium
District, Yukon, by completing a bankable feasibility study on the Igor
property by December 31, 2012. Wernecke Uranium properties include
numerous iron-oxide copper-gold-uranium (IOCG-U) and
structurally-controlled hydrothermal uranium targets. The Company also
holds a measured resource of 52.5 million tonnes of high Volatile "B"
Bituminous coal (refer to NI 43-101 report dated December 21, 2005). This
resource is located on a portion of the Division Mountain property, in
the Yukon.

T.C. Becker, B.Sc., P.Geo of Norwest Corporation, who is a qualified
person under National Instrument 43-101, has reviewed the scientific and
technical information concerning the resource estimate cited in this news
release.

Forward-Looking Statement

This press release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements with respect to
the feasibility and mineralization at Division Mountain; future financial
or operating performance of the Company and its projects; statements
regarding exploration prospects; statements regarding acquisition
opportunities; the identification of mineral reserves and resources;
requirements for additional capital; environmental risks; title disputes
or claims; and regulatory matters. Generally, forward-looking information
can be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does
not anticipate", or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties and
other factors that may cause the actual results to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to: general business, economic,
competitive, political and social uncertainties; the actual results of
current exploration activities; timing and availability of external
financing on acceptable terms; conclusions of economic evaluations;
changes in project parameters as plans continue to be refined; future
prices of mineral prices; risks inherent in the mining industry; and,
delays in obtaining governmental approvals or required financing or in
the completion of activities. Although the Company has attempted to
identify important factors that could cause actual results to differ
materially from those contained in forward-looking information, there may
be other factors that cause results not to be as anticipated, estimated
or intended. There can be no assurance that such information will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking information.
The Company does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.

Should you wish to receive Company news via email, please email
info@cashminerals.com and specify "CHX News" in the subject line.

TSX VENTURE
EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts:
Cash Minerals Ltd.
Greg Duras
President and CEO
(416) 861-5801
Email: info@cashminerals.com

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