Mr. Peter Swistak reports

CAVAN SIGNS LOI TO JOINT-VENTURE ITS 100% OWNED BUCKINGHAM GRAPHITE PROPERTY TO CARIBOU KING RESOURCES LTD.

Cavan Ventures Inc. has signed a letter of intent with Caribou King Resources Ltd. to joint venture its 100-per-cent-owned Buckingham property. The Buckingham property consists of 24 claims and is attached to the northern boundary of Caribou's Buckingham property. Grab samples on Cavan's Buckingham property have returned values as high as 86.5 per cent organic carbon with flakes over five millimetres in diameter (see Cavan press release dated July 8, 2014).

Cavan's Buckingham property consists of 24 claims located in ranges VIII and IX, Buckingham township, Quebec, and covers an area of 1,682.8 hectares (4,157 acres). Cavan's Buckingham property is 1.7 kilometres north of the historic-producing Walker graphite mine, and covers the northern extension of a graphite zone on Caribou's Buckingham property. A helicopter-borne magnetic and time-domain electromagnetic survey confirmed a historic conductor, and further resolved a second parallel conductor to a length of 300 metres (see news release of Sept. 24, 2013). Two airborne geophysics programs were performed, showing massive anomalies plus six graphite-rich zones in trenches on the claims followed up on these airborne anomalies. Assays from the channel sample and trenching program returned 15.55 per cent organic carbon over 19.5 metres, and as high as 22.8 per cent organic carbon over 5.4 metres, respectively.

Terms of the definitive agreement will be released pending assay results from a mini-bulk sample between two to five kilograms. The mini-bulk sample was at the request of Caribou King Resources, which will pay for the fieldwork and purity testing set to be taken in the coming week.

President and chief executive officer of Cavan, Peter Swistak, states: "We are extremely pleased to be approached by Caribou King Resources for a mini-bulk sample and purity testing on our Buckingham property. This letter of intent is the first step for Cavan Ventures to achieve our objective in creating shareholder value and advancing our Buckingham property in this very rich graphite region."

The technical contents of this release were approved by Case Lewis, PGeo, and a qualified person as defined by National Instrument 43-101.

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