Saffie

As Coal Skyrockets, Analysts Are Late to the Party

Mark what do you think of CASH MINERALS CHX (Toronto) sitting on 52million tons of measured resource,type B bitumous coal, with a stock price of 27cents and a market cap of $110million?

TORONTO, ONTARIO - June 6, 2008 - Cash Minerals Ltd. (TSX-V: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.