EDITOR: | May 16th, 2013

Cache Reports Encouraging REE And Gold Results

| May 16, 2013 | No Comments
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Cache-ExplorationMay 16, 2013 (Source: The Newswire) — Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V:CAY) is pleased to announce that the Company has received encouraging results for Rare Earth Elements (REE) and Gold (Au) from the Jake Lee Project in New Brunswick. Dr. David Lentz, P.Geo., is a Qualified Person as described in National Instrument 43-101 and is responsible for the technical information contained in this news release.

The Jake Lee Property is under option from Geodex Minerals Ltd. (see November 15, 2012 news release). The Property consists of 152 claims located in southern New Brunswick, approximately 30 kilometres west of the city of Saint John. The property contains the Jake Lee Mountain Granite (see Figure 1). As a peralkaline phase of the Silurian age Saint George Batholith, the Jake Lee Mountain Granite is genetically related to the Welsford Granite, another phase of the Saint George Batholith, which is the host of the Company’s Welsford REE Properties and which contains numerous rare earth element showings.

In late 2012, the company carried out soil sampling and radiometric prospecting on the Jake Lee Property. A total of 204 B-horizon soil samples, 16 C-horizon soil samples, and 19 rock samples were collected and submitted to Activation Laboratories (Actlabs) in Fredericton, NB for sample preparation, followed by analysis at their Ancaster, Ontario facility for Code 1D enhanced instrumental neutron activation analysis (INAA). Additionally, 413 soil samples from the 2011 exploration program by Geodex were resubmitted to Actlabs for INAA to test for gold concentrations.

In expanding the existing grid of B-horizon soil data, Cache confirmed the presence of at least two target areas of elevated REE’s in soil within the central region of the claim block and one in the extreme southwest part of the soil grid (see Figure 2). The most notable and promising anomaly contains the highest heavy rare earth elements (HREE) in soil concentration of the area, with 56.21 ppm combined Europium (Eu), Terbium (Tb), Ytterbium (Yb), and Lutetium (Lu), and is extendable northeasterly with several other soil samples reporting between 12 and 50 ppm combined Eu-Tb-Yb-Lu, which were taken along a length of 440 metres. This anomaly is also coincidental with elevated concentrations of Tantalum (Ta), Hafnium (Hf), and Molybdenum (Mo). Other high REE concentrations in soil were also identified in various areas of the property.

The C-horizon soil was locally tested to assess the potential for soil dispersion on the property, and by inference, the reliability of B-horizon soil data. While the B-horizon was found to be more Heavy Rare Earth Element (HREE) enriched and the C-horizon to be more Light Rare Earth Element (LREE) enriched, a relatively strong correlation was found between B-horizon and C-horizon concentrations of Uranium (U), Thorium (Th), and Hafnium (Hf). Locally elevated concentrations of REE-in B-horizon soil are also coincidental with elevated concentrations of REE-in C-horizon soil. It is believed that the local variations in LREE and HREE in soils are more a function of soil evolution and that soil dispersion has been minimal.

The results of the rock samples submitted did not return significant values, although there is very limited exposure in the region. The highest reported result was a sample which contained 213.35 ppm Total Rare Earth Elements (TREE), including 28.55 ppm HREE. Note that TREE includes Lanthanum, Cerium, Neodymium, and Samarium as LREE, and Eu,Tb,Yb,Lu as HREE.

The results of the reanalyses of the 2011 soils for gold concentrations proved encouraging and have identified a significant gold anomaly.  One sample from the south-central region of the claim was found to contain 224 ppb gold in an area interpreted to be near the contact zone between the Jake Lee Mountain Granite and the Mascarene Group metasediments (Fig. 3). This geologic area has been historically of interest for other metals – notably Zinc, Lead, Silver, and Copper.

The 2012 exploration program at the Jake Lee Property has identified areas of interest which the Company will evaluate for the provision of a follow up program. Such a program would include detailed radiometric prospecting in the areas showing elevated REE values in soil and from radiometric prospecting, and the extending of the B-horizon soil grid on the large region of the property that remains underexplored in the northern half and the westernmost extents of the Jake Lee Property.

The REE anomalies and the gold anomaly on the property are of interest to the Company and could result in a summer trenching program on the property to identify the bedrock sources of these anomalies.

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 the Company at phone (416) 867-1101, fax (416) 867-1222 or by email at  info@cacheexploration.com

Neither The TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Figure 1 – Location map of the Jake Lee Property in southern New Brunswick with geology

To view map image, please copy and paste URL below into a new browser:

http://thenewswire.ca/client_files/2013-05-16-0.pdf

Figure 2 – Map showing HREE concentrations in B-horizon soils at the Jake Lee Property

(Note that the reported HREE includes Eu, Tb, Yb, and Lu)

To view map image, please copy and paste URL below into a new browser:

http://thenewswire.ca/client_files/2013-05-16-1.pdf

Figure 3 – Map showing Gold in soil results at the Jake Lee Property

To view map image, please copy and paset URL Below into a new browser:

http://thenewswire.ca/client_files/2013-05-16-2.pdf


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