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Preheat oven to 350. Coat 8x8 inch pan with cooking spray.
Toast oats and cashews on separate baking sheets until golden, about 20 minutes.
Puree 1 cup cashews with oil in food processor.
Heat honey, brown sugar and cinnamon in saucepan over medium heat until sugar dissolves. Off heat stir in ground cashews.
Toss together oats, 1/2 cup cashews and dried cherries; stir in honey mixture until well combined.
Press mixture into prepared pan.
Let cool, then cut into bars.