Cavan Ventures Inc. ("Cavan" or the "Company') (TSX VENTURE: CVN), a public mineral exploration company based in Vancouver, British Columbia, wishes to announce that, further to its news release issued on October 27, 2010, the Company has decided not to proceed with its acquisition from Antis S.R.L. of a 100% interest in the Carma Gold Project (the "Project"), as a result of its due diligence on the Project.

The Company's Board of Directors wishes to advise shareholders that the Board will continue to identify new business opportunities to enhance shareholder value. Further updates will be provided to shareholders as they are developed.

On behalf of the Board of Directors,

CAVAN VENTURES INC.

Ming Chiang, President & CEO

If you would like to be added to Cavan's update list please send an email to ming@cavanventures.com.

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.

Contacts: Cavan Ventures Inc. Ming Chiang President & CEO (604) 763-7748 (cell) or (604) 288-2756 (office) (604) 909-5199 (FAX) ming@cavanventures.com www.cavanventures.com