Suite 1220, 789 West Pender St. Vancouver, British Columbia Phone: 604-683-3995/ Toll Free: 888-945-4770 / Fax: 604-683-3988

SECOND HOLE COMPLETED, THIRD HOLE DRILLING UNDERWAY, INTERSECTS GRAPHITE IN BOTH AT BUCKINGHAM

December 10th, 2015, VANCOUVER, B.C. - Cavan Ventures Inc. (CVN-TSX:V) ("Cavan" or the "Company") announces that Ashburton has completed the second hole and is currently drilling the third hole in its drilling campaign at the Buckingham Graphite Project. The company also announces that it has again identified several broad intervals of flake graphite mineralization, as well as some veins, from visual analysis at both drill locations. Ashburton has entered into an option agreement with Cavan and can acquire a 60% interest in Cavan's Buckingham Graphite Property (see Cavan's release, October 15, 2015).

The Ashburton geological team reports that visual analysis now completed of the second and third holes (BH15-02 and BH15-03) which target a large anomaly identified by an airborne time-domain electromagnetic survey (TDEM) (completed by Cavan in mid-2013), has revealed similar flake and vein graphite mineralization as found in the its first hole BH15-01 (see PR dated December 1, 2015). This fence of three holes are spaced 100 metres apart and together span 200 metres along strike.

The third hole (BH15-03), which is still in progress at 136 meters depth (of a target depth of ~200 metres), was collared 100 metres southwest of the original discovery drill hole (BH15-01) and so far has intersected approximately 82 metres of flake graphite mineralization along with some vein graphite included. Flake graphite was intersected from 30 to 80 metres, and within the interval of 95 to 136 metres, a total of 32 metres carries disseminated flake graphite. The Company will be releasing more drilling updates as well as a plan map and additional photos in the near future.

The second hole (BH15-02), was collared 100 metres northeast of the original discovery hole (BH15-01) and targeted Trench 22C which previously yielded channel sample results up to 21.6% Cg over 14.5 metres (Cavan Ventures release, July 17, 2014). This hole intersected a total of approximately 46 metres of disseminated flake graphite mineralization from 48 to 62 metres and encountered further graphite mineralization from 106 to 116 metres, 163 to 173 metres, and 188 to 200 metres, where the hole terminated in mineralization at 200 metres. The hole intersected a relatively broad northeast-trending pegmatite dike, which, although being largely unmineralized itself, is believed to be the heat source driving vein-type graphite mineralization observed in some intervals of core in all three holes drilled to date. This pegmatite dike has been mapped at surface and appears to be localized around hole BH15-02 and tapers to the north, suggesting that holes drilled further north along strike may intersect lithologies more closely resembling those encountered in BH15-01. The intervals of pegmatite that were encountered will be analyzed for rare earth metals.

President and CEO Peter P. Swistak states "This initial drilling program supports the prediction that the geophysical conductor is caused by graphite mineralization over a very large area, with three holes now encountering graphite mineralization over 200 meters of spacing."

Initial core samples are being prepped and anticipated to be sent within one week to the lab for analysis. The system is open on all directions and appears to be trending northeast along a distinct trend identified from the airborne TDEM survey and previous trenching. The company wishes to advise readers that this is a preliminary visual analysis only and no assay results have yet been received. These intervals in this release are apparent thicknesses, true widths have not been determined as of yet. Further data is needed to determine true widths and will be reported once obtained.

The Buckingham Graphite Property consists of 28 claims in Ranges VIII and IX, Buckingham Township, Quebec which cover an area of 1,683 hectares. Exploration on the southern part of the claim group has yielded assay results as high as 21.6% Cg (graphitic carbon) over 14.5 metres from channel samples and purity results up to 96.1% Ct (total carbon) from large flake fractions (see Cavan releases, July 17, 2014

& May 28, 2015).

About the Buckingham Graphite Project

The Buckingham Graphite Project consists of 28 claims located in Ranges VIII and IX, Buckingham Township, Quebec and covers an area of 1,683 hectares. The property is located 1.7 kilometers north of the historic, producing Walker Graphite Mine and covers the northern extension of a graphitic zone beginning on Caribou King Resources' Buckingham Property. Helicopter-borne magnetic and time- domain electromagnetic surveys located a historic conductor, and further resolved a second parallel conductor to a length of 300 meters (see Cavan release, September 24, 2013). Historic airborne electromagnetic surveys have identified additional conductors striking over a large portion of the Buckingham Graphite Project.

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

Cavan Venture's mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. For more information visit the website at www.cavanventuresinc.com.

ON BEHALF OF THE BOARD

Peter P. Swistak, President

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 1-604-683-3995

Toll Free: 1-888-945-4770

Forward-Looking Statements:

Some statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Cavan Ventures Inc. Actual results may differ materially from those currently anticipated in such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.