Cascada Announces Closing of $1.0 Million Private Placement

Toronto, December 13, 2024 - Cascada Silver Corp. (CSE: CSS) (the "Company") is pleased to announce the closing of a non-brokered private placement for aggregate gross proceeds of $1,021,127 (the "Offering") on December 11, 2024. The net proceeds will be used for exploration activities on the Company's Chilean projects, working capital, and general corporate purposes. The CEO and a consultant of the Company purchased 24% of the Offering.

The Offering consisted of the issuance of 20,422,535 units at a price of $0.05 per unit, with each unit comprising one common share of the Company (a "Share") and one-half of one (1/2) share purchase warrant (each full warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one Share at a price of $0.10 for a period of one year from closing of the Offering.

The closing of the Offering is subject to approval of the Canadian Securities Exchange. The securities issued or made issuable pursuant to the Offering are subject to a statutory hold period of four months and one day from closing of the Offering.

The Company paid aggregate cash finder's fees, in accordance with the policies of the Canadian Securities Exchange, totaling $4,675.

A director and officer of the Company purchased 2,450,000 units under the Offering and, as a result, the Offering is considered a related party transaction subject to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the Offering by such persons did not exceed 25% of the fair market value of the Company's market capitalization.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

About Cascada Silver Corp.

Cascada Silver is a mineral exploration company focused on exploration opportunities in Chile. Cascada Silver's team of successful exploration professionals are dedicated to the discovery of mineral deposits that can be progressed into economically viable development projects creating value for all stakeholders.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the use of proceeds from the Offering, the Company's plans with respect to the Company's projects and the timing related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies, the Offering and the expected use of proceeds thereof, and other project opportunities. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events.

The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the Canadian Securities Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances, necessary to carry out the Company's exploration plans, risks and uncertainties related to the Company's ability to complete the Offering and the size of the Offering, and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

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