Cache Completes Drilling At The Welsford Inner Property

TORONTO, CANADA - July 2, 2013 - Mr. George A. Brown, President and CEO of Cache Exploration Inc. (TSX-V:CAY), is pleased to announce that the Company has completed the drilling program at the Welsford Inner Property in New Brunswick. This drilling program has been approved for a grant of up to $35,000 under the New Brunswick Junior Mining Assistance Program which represents 50% of the first $70,000 of eligible costs incurred in the drilling program (see June 6, 2013 news release). Dr. David Lentz, P.Geo., is a Qualified Person as described in National Instrument 43-101 and is responsible for any technical information contained in this news release.

A diamond drilling program, as news released on June 25, was carried out on the Welsford Inner Claims (see Figure 1). Vic Progressive Diamond Drilling Inc. of Sussex, New Brunswick completed the drilling of one exploration test hole under contract. This test hole was collared from the same drill pad location as the 2012 drill hole and was drilled towards the southwest, in the opposite direction to the 2012 drill hole. It was drilled for a length of 182 metres at a 45 degree angle to test for the presence of molybdenite mineralization, relative to an inferred SSE-trending fault structure. Molybdenite was initially discovered in the upper part of the 2012 drill hole (see May 13, 2013 news release). The drilling was designed to test the molybdenum soil anomaly located along the trend parallel to McKeel Lake. The company's technical team believe the molybdenite mineralization is related to both stockwork molybdenum veins and also molybdenum remobilized into late fractures from at depth along the fault zone.

Through visual identification, assisted by portable X-Ray Fluorescence (pXRF), the company has been able to confirm the presence of a network of thin molybdenite veins which are up to 10 millimetres in thickness. Fine-grained to medium-grained disseminated molybdenite has also been noted. The network of veins and disseminated mineralization first appear at down-hole depth of 52 metres (36.8 metres true depth as projected from surface) and continue to a depth of 150 metres (106.1 metres true depth as projected from surface ) and are typically found in veinlets and stockworks filling fractures in the host granite (see Figures 3(a) and 3(b)), disseminated and in aggregates within the granite (see Figures 3(c) and 3(d)), as well as concentrated in gossanous zones (see Figure 3(e)).

Sampling of the drill core will be completed in the next few days and all samples will be submitted to the Activation Laboratories facility in Fredericton, New Brunswick, for processing and then to be forwarded to their facility in Ancaster, Ontario for analysis by Code-1H instrumental neutron activation analysis (INAA) and aqua regia ICP with results expected in late July or early August.

Cache's property portfolio includes the Welsford Inner Property in New Brunswick, the Cross Hills IOCG Property and the CMI Cross Hills Property in Newfoundland, the Quinn Eskay Property in BC, the White Gold Properties in the Yukon, and the six Nunavut Prospecting Permits.

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 [e-mail]

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TO VIEW FIGURES CLICK ON THE URLS BELOW

Figure 1 - Location of the Welsford Inner Property in southern New Brunswick

http://thenewswire.ca/client_files/2013-07-02-0.pdf

Figure 2 - Welsford Inner Property location of soil anomalies, 2012 drill hole, and 2013 drill hole

http://thenewswire.ca/client_files/2013-07-02-1.pdf

Figures 3 - Photos of various forms of mineralization in DDH WI-13-09:

http://thenewswire.ca/client_files/2013-07-02-2.pdf