(TheNewswire)
October 18, 2018 / TheNewswire / Vancouver, British Columbia: Cache Exploration Inc. (the “Company”, or “Cache”), (TSX-V:CAY) is pleased to announce that the Company is actively evaluating opportunities in the legal cannabis space as an effective means to enhance shareholder value at a time when mineral prices and investment are languishing.
Cache is evaluating investments involved with the legal cannabis industry - cannabis growing facilities, extraction, processing, cannabis infused products, and dispensaries (retail and e-commerce) - for both medical and recreational use. At the present time the Company does not have any agreement, understanding or otherwise with respect to any investment in any cannabis operation. Such investment, if agreed, will be subject to Exchange approval.
Notwithstanding any investment by the Company in any cannabis related enterprise, the Company is intending to continue its exploration programs on its Kiyuk Lake gold property during the 2018-2019 field season.
About Cache Exploration’s Kiyuk Lake Gold Property
The Company will focus on its Kiyuk Lake Property covering 590 square kilometers in Southwest Nunavut and expects to complete a survey on the property in Q2, 2019. The 2017 drill program confirmed and extended a known target and discovered significant gold mineralization at a new target (see Company Press Release, October 26, 2017).
At Rusty Zone the Company not only confirmed that mineralization extends to 200m below surface but also intersected a previously unknown high-grade phase of 8m of 26.4 g/t gold. At the same time, the Company discovered extensive mineralization at East Gold Point with 64 m at 1.46 g/t gold.
Prospecting returned two +5 g/t gold samples and the till campaign isolated two new anomalous areas that offer compelling evidence for further possible discovery.
For more information about Cache Exploration, please visit: http://www.cacheexploration.com/
On behalf of the Board of Directors
Cache Exploration Inc.
“Jack Bal”
Jack Bal
Chief Executive Officer
FOR MORE INFORMATION, PLEASE CONTACT:
Jack Bal
604-306-5285
jackbal@cacheexploration.com
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Kiyuk Lake Property and the prospective property in Delta, BC: statements pertaining to the ability of Cache Exploration Inc. (“CAY”); the potential to develop resources and then further develop reserves; the anticipated economic potential of the property; the availability of capital and finance for CAY to execute its strategy going forward. Forward-looking statements are based on estimates and assumptions made by CAY in light of its experience and perception of current and expected future developments, as well as other factors that CAY believes are appropriate in the circumstances. Many factors could cause CAY’s results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: discrepancies between actual and estimated results from exploration and development and operating risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release
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