The Buckingham and Tetepiska-East graphite properties are located in western and northeastern Quebec, respectively.

Covering an area of 1,682.8ha, the Buckingham property comprises 24 claims located in ranges VIII and IX, Buckingham Township, Quebec.

The Tetepiska-East property includes 54 mining claims covering 2,925.72ha.

The Tetepiska diamond drilling program will include five to six holes totaling up to 1,200m, designed to test the graphitic mineralization at depth as well as its lateral extension.

Cavan has engaged Robson Capital Markets Advisory to assist in funding these drill programs and to lead an upcoming non brokered financing.

Additionally, Robson Capital Markets Advisory will advise Cavan in its further investigation and analysis of the medical marijuana space and potential opportunities therein.

Cavan president and CEO Peter Swistak said that the company is excited to start working with Robson Capital and is moving forward as per scheduled towards further development of graphite interests.

"We are also carefully investigating and exploring potential opportunities in the medical marijuana sector, and look forward to working with Robson Capital in that regard as well," Swistak added.