Cache Engages Discovery Mining Services for Camp Preparation for Kiyuk Lake Drill Program

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(Moderate)

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Rhea-AI Summary

Cache Exploration Inc. (CEXPF) has engaged Discovery Mining Services to set up camp and a winter runway at its Kiyuk Lake Gold Project, preparing for a significant drill program exceeding 4,000 meters starting in early March 2021. Discovery Mining Services is known for its expertise in remote exploration camps and logistical support. The Kiyuk Lake project spans 590 km² in SW Nunavut and features multiple gold intercepts, including notable drill results of 8m at 26.4 g/t gold. With five new target areas identified, exploration is set to expand significantly.

Positive

Engaged Discovery Mining Services for effective camp setup and operational support at Kiyuk Lake.
Upcoming drill program exceeding 4,000m expected to enhance exploration efforts.
Kiyuk Lake project has multiple gold intercepts over 1 g/t Au across five mineralized zones.
Significant expansion potential with five new target areas identified for drilling.

Negative

None.

02/09/2021 - 08:30 AM

VANCOUVER, BC, Feb. 9, 2021 /PRNewswire/ - Cache Exploration Inc. (the "Company" or "Cache"), (TSXV: CAY) (US Pinksheet: CEXPF), announces that it has engaged Discovery Mining Services to commence with setting up camp and winter runway at Kiyuk Lake Gold Project to prepare for Cache Exploration's 4,000m plus drill program commencing in early March 2021.

Since 1992, Discovery Mining Services has become the industry's most trusted provider of remote exploration camps. Discovery Mining Services has expertise in expediting, logistical support, environmental clean-up support, equipment rentals, and dangerous goods documentation and packaging expertise for small to large projects, camps of 2 to 200, grassroots programs to advanced exploration.

Jack Bal, CEO of Cache Exploration Inc. States "Cache Exploration is very happy to commence the work program at Kiyuk Lake. Discovery Mining Service is a premier operator in northern Canada and will setup and operate our camp during the drill program.

About Cache Exploration
Cache is a gold focused Company that holds and operates the Kiyuk Lake Property which covers 590km2 in SW Nunavut: the project features a number of gold bearing prospects including 2017 identification of 8m of 26.4 g/t gold at the Rusty Zone and extensive mineralization at East Gold Point with 64 m at 1.5 g/t gold and 10 m at 6.5 g/t gold. Extensive surficial float evidence indicates a series of high-interest gold systems (see http://cacheexploration.com/CAY-NR-10-26-17 to view plan maps of Rusty Zone and East Gold Point, section showing select KI17-004 and -005 drill results and Maps of rock and till sampling results.

Drilling has discovered multiple gold intercepts over 1 g/t Au in five discrete mineralized zones Rusty, Gold Point, East Gold Point, Cobalt and Amundsen. Significant expansion possible with five new target areas identified and ready for drilling. Exploration at Kiyuk Lake takes place in winter-spring (February – May) and summer-fall (June-October).

Qualified Persons Chris Pennimpede, P. Geo., is a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical mining information provided in this release.

On behalf of the Board of Directors,

"Jack Bal"
Chief Executive Officer
Tel.: 1-604-306-5285
jackbalyvr@gmail.com

Neither 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.