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Cavan Announces Closing of Previously Announced Non-Brokered Private Placement

Cavan Ventures Inc. ("Cavan" or the "Company") (TSX VENTURE:CVN) announced today that it has closed its previously announced non-brokered private placement (the "Financing") placing 1,110,000 units ("Units") at a price of $0.125 per Unit (the "Unit Private Placement") and 2,500,000 flow-through units ("Flow-Through Units") at $0.15 per Flow-Through Unit (the "Flow-Through Private Placement") for aggregate gross proceeds of approximately $500,000. Each Unit consisted of one common share of the Company and one-half non-transferable common share purchase warrant of the Company. Each whole warrant acquired in the Unit Private Placement entitles the holder thereof to purchase one common share of the Company for a period of eighteen months following closing at an exercise price of $0.18. Each Flow-Through Unit consisted of one common share to be issued as a "flow-through share" for the purposes of the Income Tax Act (Canada), and one-half common share purchase warrant. Each whole warrant acquired in the Flow-Through Private Placement entitles the holder thereof to purchase one common share of the Company for a period of eighteen months following closing at an exercise price of $0.20. The securities issued under the Financing are subject to a statutory hold period which will expire four months and one day from the closing date in accordance with the rules and policies of the TSX Venture Exchange (the "Exchange") and applicable Canadian securities laws and such other further restrictions as may be applicable.

The Company engaged finders in connection with the sale of the Units and the Flow-Through Units. Finders engaged by the Company received a cash commission equal to 8 per cent of the gross proceeds raised from the sale of Units and the Flow-Through Units placed by them, and non-transferable compensation warrants to purchase a number of common shares equal to 8 per cent of the Units and Flow-Through Units placed by them as part of the Financing. The compensation warrants are exercisable for a period of 24 months from the date of closing of the Financing and have an exercise price of $0.18.

The Financing and the payment of finders' fees in connection with the Financing remain subject to final Exchange approval.

The Company expects to use the net proceeds from the sale of the Units in connection with mineral exploration activities, including the exploration and development of the previously announced Crown King Silver Project in Arizona, which remains subject to Exchange approval, and for working capital and general corporate purposes. The net proceeds of the Flow-Through Units will be used in connection with exploration activities on the Company's mineral properties located in Canada.

Cavan is considering completing a further tranche of the Financing at such time that it considers appropriate depending upon market conditions. Any further closing will be subject to the receipt of Exchange approval.

About Cavan

Cavan Ventures Inc. is a Vancouver based TSX Venture Exchange-listed junior mining company with acquisitions in Canada and Arizona, USA. The Company's vision is to become a globally diversified resource company with strong focuses in gold, silver, and rare earth elements. Cavan strives to become a mid-tier producer through the acquisition and development of domestic and international mining properties.

On behalf of the Board of Directors

Andrew Mah, President & Director

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Cavan with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.