Cavan Ventures Inc. (TSX VENTURE:CVN) (http://www.cavanventures.com) (the
"Company") is pleased to announce it has entered into a Mining Option Agreement
with Q-Gold Resources Ltd. (TSX VENTURE:QGR) ("Q-Gold")
(http://www.qgoldresources.com) whereby Cavan has obtained an 18-month option to
earn a 65% participating interest in a prospective Arizona silver joint venture
with Q-Gold.


The joint venture will contain Q-Gold's holdings of 3 patented historic silver
mines and 22 adjoining U.S. Bureau of Land Management ("BLM") mining claims in
the Peck Mining District of Yavapai County, Arizona, totalling 484 acres. The
Peck District is famous for its historic high-grade silver production, having
produced an "official" 1,374,000 ounces from 1875 to 1910.


Q-Gold's holdings include the historic "Black Warrior", "Isis" and a portion of
the "Silver Prince" silver mines, all of which produced high-grade silver ores
during the above period, using primitive mining methods. 


As Arizona only became a state in 1912, production records are scarce and
difficult to obtain. High-grade ore, occurring in ore shoots, went directly to
the smelter, with "milling grade" ore production assaying at 12-16 ounces of
silver per ton being crushed and concentrated on site. The mines were closed
early in the 20th Century due to the "Silver Price Depression" and the advent of
World War I and have never been re-opened.


By meeting its obligations in U.S. Dollars during the 18-month Option Period,
including cash payments to Q-Gold of $275,000, work expenditures of $1,000,000
and issuance of Cavan shares to Q-Gold worth $300,000, Cavan will earn a 65%
participating interest in the Joint Venture. During the Option Period, Q-Gold
will be Operator for the undertaking.


The known silver mineralization in the Black Warrior and Silver Prince Mines
occurs in "saddle reef" or lenticular deposits in host granites and schists,
along vein structures from 50 to 250 feet in width and from 2 to 18 feet in
thickness. These occur at depths between 200 and 400 feet. On the property are 5
veins, only two of which have been worked to any extent. Two adits and one shaft
were entered and inspected by Q-Gold's geologist, and all contained silver and
antimony mineralization. The deposits contain the important silver ore minerals,
argentite and pyrargyrite, as well as argentiferous galena and antimonial silver
minerals, the latter in their deeper portions. The secondarily leached silver
minerals miargyrite, iodargyrite and bromargyrite, were also encountered in the
adits.


As noted above, the area contains 3 high grade historic silver mines and a
number of BLM claims highly prospective for silver, yet it has never experienced
modern mining exploration techniques. Therefore, the venture will initially
launch a helicopter-based VTEM / Magnetic airborne geophysical survey which will
attempt to delineate anomalies which will indicate potential remaining ore
bodies and possible drilling sites within the complex.


Mr. Andrew Mah remarked, "With silver prices at recent record highs, I look
forward to initiating modern joint exploration activities this summer with
Q-Gold in the historic silver-producing Peck Mining District of Arizona."


The historical references contained in this release have not been verified by a
qualified person under NI 43-101 and therefore cannot be relied on for any
purpose. Brian A. Beck, PG a qualified person under NI 43-101 has reviewed and
approved the technical content of this release. 


The Option Agreement is subject to the approval of the TSX-Venture Exchange.

On behalf of the Board of Directors: 

Andrew Mah, President & Director

Patrick Brandreth, Director, Corporate communication

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.