(via Thenewswire.ca)
TORONTO, CANADA - January 29, 2013 - Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V:CAY), is pleased to announce that the audited financial statements for the fiscal years ended September 30, 2012 and 2011 and the associated Management Discussion and Analysis have been filed on SEDAR.
Highlights include:
As at September 30, 2012:
-Cash$ 426,472.
-Current assets $ 464,515.
-Working Capital $ 335,499.
For the twelve month period ended September 30, 2012:
-Exploration expenditures$ 283,450.
-Operating expenses* $ 299,349.
-Operating expense average burn rate per month*$ 24,946.
(* excluding non-cash stock based compensation)
Exploration programs are being developed for the current year and the Company is adequately funded to incur the additional flow-through expenditures of $103,846 required by December 31, 2012 and of $81,600 required by December 31, 2013.
George A. Brown, President & CEO states: "Junior resource companies are facing extremely challenging economic market conditions. Cache realizes that the available working capital must be utilized to its maximum potential and that the Company's burn rate must be carefully managed to preserve capital during these times."
Cache Exploration is an exploration company with a focus on exploring for REE deposits. Cache is exploring the Welsford REE Properties in New Brunswick, the Cross Hills Northern IOCG Property in Newfoundland, and the Nunavut REE Properties. The Company acquired a 100% interest in Cache Minerals Inc. ("CMI")(formerly Rockbridge Minerals Inc.) through which it now controls the CMI Cross Hill REE Properties in Newfoundland, the Quinn Eskay Property in BC, and the White Gold Properties in the Yukon. All of the Cache REE properties are considered to have excellent potential for rare earth element mineralization. The BC and Yukon properties provide a diversity of exposure to exploration potential for copper, silver, and gold.
Additional information is available under the company's profile at www.sedar.com and on the Cache website at www.cacheexploration.com For additional information please contact info@cacheexploration.com
Neither The TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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