Cavan Ventures Inc has announced that the Company had entered into a Memorandum of Understanding with Zhangjiajie XiangTie Mining Ltd to explore China's Qingfeng Creek Iron Ore Mine.

The Company wishes to announce the parties were not able to agree on an economic arrangement that met each party's strategic goals, and as a result, the Company will no longer be pursuing a Joint Venture with Zhangjiajie XiangTie Mining Ltd to explore the Iron Ore Property.

The Company remains committed to its goal of building a strong portfolio of mineral properties with excellent potential for production, and it will continue to pursue strategic alliances in China and North and South America.

Cavan Ventures Inc is a public mining exploration company based in Vancouver, British Columbia trading on the TSX Venture Exchange under the symbol CVN.