Mr. Graham Downs reports

CASCADIA ANNOUNCES CLOSING OF UPSIZED PRIVATE PLACEMENT

Cascadia Minerals Ltd. has closed the private placement originally announced on Aug. 1, 2023, as amended by its news release dated Aug. 4, 2023. The private placement consisted of the sale of 1,521,739 critical minerals flow-through units at a price of 23 cents per unit and 7,382,562 charity critical minerals flow-through units at a price of 25 cents per unit for total subscription proceeds of $2,195,640.67.

Each flow-through unit comprises one flow-through common share and one-half of a transferable common share purchase warrant issued on a non-flow-through basis. Each charity flow-through unit consists of one charity flow-through common share and one-half of one warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of 25 cents until Aug. 24, 2026.

Agentis Capital Mining Partners of Vancouver, B.C., is acting as financial adviser to Cascadia and will receive cash payments totalling $100,000 for financial advisory services provided over the term of its engagement.

All of the securities issued pursuant to this private placement, including any common shares that may be issued pursuant to the exercise of the warrants, are subject to a hold period in Canada until Dec. 25, 2023.

Cascadia management and directors subscribed for 1,037,891 flow-through units. Following the close, management and directors control approximately 4 per cent of the issued and outstanding shares of Cascadia.

Hecla Mining Company purchased 1,772,000 charity flow-through units for aggregate consideration of $318,960. Following the close, Hecla controls 7,274,956 common shares, being approximately 19.8 per cent of the issued and outstanding shares of Cascadia. Hecla also controls warrants to acquire an additional 6,388,956 common shares. Prior to the close of the offering, Hecla controlled 5,502,956 common shares and held warrants to acquire an additional 5,502,956 common shares. Hecla holds its common shares and warrants for investment purposes. Hecla does not have any present intention to acquire ownership of, or control over, additional securities of Cascadia. It is the intention of Hecla to evaluate its investment in Cascadia on a continuing basis and such holdings may be increased or decreased in the future.

About Cascadia Minerals Ltd.

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 that exhibits extensive high-grade copper and gold mineralization across a five-kilometre-long trend, with rock samples returning peak values of 3.88 per cent copper and 30.00 grams per tonne gold. The maiden diamond drill program at Catch is under way. In addition to Catch, Cascadia is conducting exploration work at its PIL property in British Columbia and the Sands of Time and Rosy properties in Yukon as well as evaluating additional regional opportunities.

The technical information in this news release has been approved by Andrew Carne, MEng, PEng, vice-president, corporate development, for Cascadia and a qualified person for the purposes of National Instrument 43-101.

We seek Safe Harbor.