Cascadia Minerals Ltd. Announces Increase in Private Placement Offering

VANCOUVER, BC, Aug. 4, 2023 /CNW/ - Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM) announces that, subject to regulatory acceptance, it will increase the size of the Critical Minerals Charity Flow-Through Units (the "CFT Units") portion of the private placement announced on August 1, 2023 to up to $1,913,750 by the sale of up to 7,655,000 CFT Units at a price of $0.25 per CFT Unit.  The Critical Minerals Flow-Through Units (the "FT Units") portion of the private placement will also increase to up to $350,000, by the sale of up to 1,521,739 FT Units at a price of $0.23 per FT Unit. All warrants associated with the CFT Units and FT Units will be transferrable.

Cascadia is a Canadian junior mining company focused on exploring for copper and gold in Yukon and British Columbia. Cascadia's flagship Catch Property is a brand-new grassroots discovery which exhibits extensive high-grade copper and gold mineralization across a 5 km long trend, with rock samples returning peak values of 3.88% copper and 30.00 g/t gold. Diamond drilling is planned to commence at Catch in early August. In addition to Catch, Cascadia is conducting exploration work at its PIL Property in British Columbia and the Rosy property in Yukon, as well as evaluating additional regional opportunities.

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.

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.

SOURCE Cascadia Minerals Ltd.