Cache Receives 5-Year Land Use Permit for Kiyuk Lake Gold Project, Nunavut Drill Program Planned for Summer 2019

- April 4th, 2019

Cache Exploration Inc. (the “Company”, or “Cache”), (TSXV:CAY) is pleased to announce that a Land Use Permit (LUP) has been issued by the Crown-Indigenous Relations and Northern Affairs Canada for its Kiyuk Lake Gold project.

Cache Exploration Inc. (the “Company”, or “Cache”), (TSXV:CAY) is pleased to announce that a Land Use Permit (LUP) has been issued by the Crown-Indigenous Relations and Northern Affairs Canada for its Kiyuk Lake Gold project.

The Land Use Permit allows the Company to finalize planning for its 2019 summer drill program with its joint venture partner, Margaret Lake Diamonds.

All Permits in Place

The new LUP, in conjunction with the previously issued water use permit, provides all the necessary permits to conduct drilling and other mineral exploration related activities. The new permit is effective until April 2024 and covers all of Cache’s claims and leases across its 590 square kilometer property located in the Kivalliq Region of Nunavut.

CEO, Jack Bal Comments, “This new land use permit provides complete flexibility in planning and carrying out long term exploration across the entire property during both winter and summer for the next 5 years.”

About Cache Exploration’s Kiyuk Lake Gold Property

The Kiyuk Lake Property covers 590 square kilometers in Kivalliq Region – Southwest Nunavut. The 2017 drill program confirmed and extended a known target and discovered significant gold mineralization at a new target area, East Gold Point (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 1.5 g/t gold and 10 m at 6.5 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.

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