Cava Resources Inc. Announces a Name Change to Gold Rush Cariboo Corp. and Appoints New President

TORONTO, June 14, 2018 (GLOBE NEWSWIRE) -- Cava Resources Inc. (“Cava” or the “Company”) (TSX Venture:CVA)  announces that it is planning to change its name to Gold Rush Cariboo Corp. The new name should better reflect the Company’s gold production business in the Cariboo region of British Columbia. The name change and a new trading symbol are subject to the approval of the TSX Venture Exchange.

In addition, the Company is pleased to announce the appointment of Conan Taylor, LLB. as a director and the new President of the Company replacing Brian Murray who will remain as a director of the Company. In connection with these changes, James Decker, a long serving director of Cava has agreed to resign from the Board of Directors with much appreciation for his past contributions.

Conan Taylor holds a Law degree from Queens University and has been a member of the Alberta Law Society since 1997. He practiced at a major law firm until 2002 at which time he formed his own law firm, Taylor Janis LLP with offices in both Calgary & Edmonton. Mr. Taylor will work from both the Toronto office and his office in Edmonton.

Mr. Taylor commented: “I am excited to take on an active management role as we commence operations at our Horseshoe Bend property. With the recent purchase of Specialized Gold Processing Equipment, we are ready to begin work to recover gold from the sediment hosted vein deposits from which significant gold quantities have been identified in the past. The historic production in this region and the recent exploration success by neighbouring Barkerville Gold Mines Ltd. and Spanish Mountain Gold Ltd. confirm the presence of economic gold deposits in this region.”

Other matters:

The Company has also announced that it has granted 2.7 million stock options to certain officers, directors and consultants. The options have a term of 3 years and are exercisable at a price of $0.22.

About Cava Resources Inc.

In February 2018, Cava completed the acquisition of all of the issued and outstanding shares of Gold Rush Cariboo Inc. which is now its 100% owned operating subsidiary.

Gold Rush Cariboo Inc. acquired the Horseshoe Bend property and an option on over 16 alluvial gold properties in southwest British Columbia. For further details, see the Company’s press release dated February 13, 2018.

In addition, Cava maintains its interest in its Casa Berardi properties which comprises two non-contiguous claim groups (the Casa Berardi North and the Cancor Extension) which are located in the Casa Berardi area of northwestern Quebec. Cava holds a 70% interest in these properties.

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, the timing of future exploration work or drilling, and the expansion of the mineralization. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Cava Resources Inc., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, 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. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

The TSXV has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this news release. The TSXV has neither approved nor disapproved of the contents of this news release.

For further information contact:

R. Brian Murray,
Director, 416-985-7810