Mr. Jeffrey Ackert reports

CASCADE COPPER EXERCISES OPTION TO HOLD 100% OF THE CENTREFIRE COPPER GOLD PROJECT, NW ONTARIO

Cascade Copper Corp. has exercised its earn-in option to own a 100-per-cent interest in the Centrefire copper and gold project from the vendor by completing the third and final option instalment of cash and shares. The company now holds 100 per cent of the entire 3,922-hectare project area located in Northwestern Ontario, Canada. The original vendor holds a 2-per-cent net smelter royalty on a portion of the entire project area where 1 per cent can be bought back for $1-million.

"I am more than happy that Cascade was able to fulfill our earn-in option commitments to acquire 100 per cent of the Centrefire copper and gold project near Dryden, Ont. After our maiden drilling program success and our upcoming plans for a phase 2 program, it's nice to know we have the project 100 per cent," stated Jeffrey Ackert, president and chief executive officer of Cascade Copper. "We have more work planned beyond the next drilling program that will help uncover more copper and gold targets across the entire project area."

Project description

The 3,922-hectare Centrefire copper-gold project is located in the Wabigoon greenstone belt in Northwestern Ontario, approximately 40 kilometres northeast of Dryden and approximately 35 kilometres southwest of Sioux Lookout. It has been minimally explored in the past with 10 short (fewer-than-75-metre vertical depth) drill holes, five surface trenches, continuous channel sampling over multimetre intervals, and geophysics, both surface and airborne, including magnetics and electromagnetics surveys. Phelps Dodge explored the area between 1968 and 1970, and discovered several stacked intervals of copper, gold and nickel mineralization within the majority of drill holes. Recent modern work by Cascade has confirmed surface mineralization, reinterpreted and modelled the EM and magnetic geophysics, and defined priority drill targets from this. Recent surface sampling has returned values up to 2.86 per cent copper, 2.84 grams per tonne gold and 23.5 g/t silver.

Outlook for the Centrefire project

A follow-up phase 2 drill program is planned at Centrefire to test the along strike and depth continuity of the zones intersected in the phase 1 drill holes, targeting the potential deeper, higher-grade core to the system at the MGZ. Biogeochemistry, lidar and airborne EM surveys are planned to help delineate further target areas, especially along strike and within the newly staked claims.

The technical information in this news release was prepared and approved by Shannon Baird, PGeo, a qualified person as defined in National Instrument 43-101. Mr. Baird is vice-president, exploration, of Cascade Copper, and registered as a professional geoscientist with the Professional Geoscientists of Ontario as well as the Engineers and Geoscientists of British Columbia.

About Cascade Copper Corp.

Cascade Copper is an exploration-stage natural resource company engaged in the evaluation, acquisition and exploration of copper-based mineral resource properties. Cascade is focused on copper and gold, porphyry, and mesothermal gold deposits in British Columbia and volcanogenic massive sulphide and banded iron formation copper, gold and silver style deposits in Ontario. Cascade's priority is to conduct exploration using modern technology that includes 3-D inversion modelling of geophysics, lidar elevation models, and artificial intelligence enhanced predictive modelling from all historic and modern data inputs. Drilling is planned on several of its copper-gold targets this year. Cascade has five projects, including the Copper Plateau copper-molybdenum project, the Centrefire copper-gold project, the Rogers Creek copper-gold project, the Fire Mountain copper-gold project and the Bendor gold-tungsten project.

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