CAVAN Signs LOI For Acquisition of Crown King Silver Project in Arizona
NEWS RELEASE
Cavan Ventures Inc.
Suite 579-1917 West 4th Ave.
Vancouver, B.C. V6J 1M7 Tel: (604) 288-2756 Fax: (604) 909-5199
March 4, 2011 TSX Venture Symbol: CVN
CAVAN Signs LOI For Acquisition of Crown King Silver Project in Arizona
Cavan Ventures Inc. (TSX Ventures: CVN.V) (“Cavan”), a public mineral exploration company based in Vancouver, British Columbia, is pleased to announce that it has entered into a Letter Of Intent (“LOI”) with World Fortune Enterprise Inc. (“WFEI”), to acquire from WFEI a sixty-five percent (65%) interest in the mineral and surface rights to certain patented and U.S. Bureau of Land Management mining claims (the “BLM Mining Claims”), which are prospective for silver, near the town of Crown King, in the Peck Mining District of Yavapai County, Arizona.
The parties will proceed to enter into and execute a definitive agreement with respect to the acquisition by Cavan of a 65% interest in the BLM Mining Claims. Cavan will issue a news release to provide an update to its shareholders in connection with the execution of the definitive agreement.
Completion of the transaction is subject to a number of conditions, including TSX Venture Exchange acceptance and, if required, shareholder approval. There can be no assurance that the transaction will be completed as proposed or at all.
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.
On behalf of the Board of Directors:
“Ming Chiang”
Ming Chiang, President & CEO (604)763-7748 (cell) or (604)288-2756 [email protected]
or
Patrick Brandreth, Director
(604)808-3527
For further information please visit our website at www.cavanventures.com