Cascadia Minerals Ltd. Announces Further Increase in Private Placement Offering

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VANCOUVER, Dec. 4, 2024 - Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM) is pleased to announce that, subject to regulatory acceptance, it will increase the size of the non-brokered private placement previously announced on November 28, 2024 and November 29, 2024, to a maximum of $1,750,000 (the "Upsized Offering").

The Upsized Offering will consist of the sale of:

i. Non-flow-through units (the "NFT Units") to be sold at a price of $0.09 per NFT Unit; and

ii. Critical minerals flow-through common shares (the "FT Shares") at a price of $0.10 per share.

Each NFT Unit will comprise one common share and one-half of one common share purchase warrant. Each full warrant shall be exercisable into one additional common share for twenty-four (24) months from closing at an exercise price of $0.15. The exact number of NFT Units and FT Shares sold will be determined at closing of the Upsized Offering.

The proceeds from the sale of the FT Shares will be used for "Canadian critical minerals exploration expenses" at Cascadia's Yukon and British Columbia properties. These expenditures will qualify as "critical mineral flow-through mining expenditures" within the meaning of the Income Tax Act (Canada). The proceeds from the sale of the NFT Units will be used for general working capital.

Finder's fees or brokers' commissions may be paid in accordance with TSX Venture Exchange policies. All securities issued as part of the Upsized Offering will be subject to a hold period in Canada of four months plus one day from the closing of the Upsized Offering. Completion of the Upsized Offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange.

Cascadia anticipates that insiders may subscribe for a portion of the Upsized Offering. The participation of insiders in the private placement would constitute a related party transaction, within the meaning of TSX-V Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Cascadia intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the fair market value (as determined under MI 61-101) of insider participation in the Upsized Offering would not exceed 25 per cent of the Cascadia's market capitalization.

About Cascadia

Cascadia is a Canadian junior mining company focused on making new copper and gold discoveries the Yukon and British Columbia. Cascadia's Catch Property in the Yukon hosts a brand-new copper-gold porphyry discovery where inaugural drill results returned broad intervals of mineralization, including 116.60 m of 0.31% copper with 0.30 g/t gold. Catch exhibits extensive high-grade copper and gold mineralization across a 5 km long trend, with rock samples including 3.88% copper with 30.0 g/t gold from a porphyry target, and 1,065 g/t gold with 267 g/t silver from an epithermal target.

In addition to Catch, Cascadia is exploring the PIL Property in the Toodoggone region of British Columbia, which hosts numerous porphyry copper-gold and epithermal gold targets. Multiple high-grade showings at PIL have yet to be drilled, with rock samples including 12.25% copper with 329 g/t silver at the Zeus zone, 10.90% copper with 39.5 g/t gold and 2,680 g/t silver at the Ben zone, and 489.71 g/t gold with 6,514 g/t silver at the Atlas zone. Work is also ongoing at the Mack's Copper and Milner properties - recently staked Catch analogues within Yukon's Stikine Terrane - as well as the Sands of Time property in the Yukon, all of which have additional copper porphyry targets.

Cascadia has approximately 53 million shares outstanding and its largest shareholders are Hecla Mining Company, Michael Gentile and Barrick Gold.

The technical information in this news release has been approved by Andrew Carne, M.Eng., P.Eng., VP Corporate Development for Cascadia and a qualified person for the purposes of National Instrument 43-101.

On behalf of Cascadia Minerals Ltd.

Graham Downs, President and CEO

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 NEWS RELEASE.

Cautionary note regarding forward-looking statements:

This press release may contain "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. The Company undertakes no obligation to update forward-looking information, except as required by securities laws.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 (the "Securities Act") and may not be offered or sold in the United States or to a U.S. person in the absence of such registration or an exemption from the registration requirements of the Securities Act and applicable U.S. state securities laws. The issuer will not make any public offering of the securities in the United States.

SOURCE Cascadia Minerals Ltd.