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Cache Exploration (TSXV:CAY) has Announced a non-brokered Private Placement

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The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 10 million units priced at $0.15 per unit. The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.20 for 24 months.

Additional Information:

Company: Cache Exploration
Website: http://www.CacheExploration.com
Stock Symbol: TSXV: CAY
Date Published: Nov 5, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Cache Exploration has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 10 million units priced at $0.15 per unit.

The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.20 for 24 months.

The shares are currently trading at $0.195.

The net proceeds will be used to fund exploration on the company’s Kiyuk Lake Property, where the company is exploring for a near surface gold resource, for current liabilities, and for general working capital.

The Kiyuk Lake Gold Property is located in Nunavut, 50 kilometers north of the border with Manitoba and 350 kilometers west of Arviat with access by air to an ice runway in winter or by float plane in summer.

Cache has the right to earn 100% interest in the Property subject to a 2% NSR.

The 590 square kilometer property consists of 70 mineral claims with a fully functioning camp on site.

The most compelling feature of the property is the multiple gold showings with more than 12 gold prospects extending over a distance of 15 kilometers.

The first drilling campaign was completed by Newmont in 2008 and included 14 diamond drill holes totalling 2331 meters.

Evolving Gold and more recently Prosperity Goldfields have conducted three successive core drill programs, the most recent ending in April 2013.

Since Newmont, 46 core holes for 9523 meters have been completed at seven different showings.

Best drill results to date include 38 meters at 4.2 grams per tonne gold from surface and 36 meters at 4.95 grams per tonne gold from 134 meters using a 0.5 grams per tonne gold cut-off.

A recent hole returned 250 meters at 1.6 grams per tonne gold from 8.2 meters using no cut-off.

For more details, please refer to the NI 43-101 Technical Report dated June 2019 filed on Sedar.

For more information, please visit the company’s website at www.CacheExploration.com, contact Jack Bal, CEO, at 604-306-5285 or by email at JackBalYVR@gmail.com.

I’m Cassandra Bolinski for Investmentpitch Media