VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 9, 2010) - Cavan Ventures Inc. (TSX VENTURE:CVN), a public mineral exploration company based in Vancouver, British Columbia, wishes to update its current status of the private placement announced on December 9, 2009. The private placement consists of the issuance up to 1,250,000 units at a price of $0.20 per unit. Each of the units will consist of one common share, plus one half non-transferable share purchase warrant. Each whole warrant entitling the holder to purchase one additional common share at a price $0.30 per share for a period of two years.

Cavan Ventures has arranged a non-brokered private placement up to an amount of $250,000 to a business consulting firm specializing in Canada-China business dealings, who will leverage its strong business relationships in helping Cavan connect with some of the well-known Chinese mining companies. Currently, Cavan is in the final stage of negotiation with this consulting firm and another potential Chinese investor with the possibility of over-subscription in this private placement.

"Based on the results of the 2009 program, Cavan is ready for the 2010 field season in the KM Property. Also Cavan is actively searching for potential projects outside of Canada to be added to its existing portfolio of properties", said Ming Chiang, President & CEO of Cavan.

The Company also announced the granting of 450,000 stock options to senior officers and non-management directors.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Cavan Ventures Inc. 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.

On behalf of the Board of Directors:

Ming Chiang, President & CEO