Mr. Graham Downs reports

CASCADIA MINERALS LTD. ANNOUNCES UP TO C$1.0M NON-BROKERED PRIVATE PLACEMENT

Cascadia Minerals Ltd. has arranged a non-brokered private placement of up to $1-million. The offering will consist of the sale of:

1. Non-flow-through units to be sold at a price of 18 cents per NFT unit;
2. Critical minerals flow-through units at a price of 20 cents per FT unit.

Each NFT unit will comprise one common share and one common share purchase warrant. Each NFT warrant shall be exercisable into one additional common share for 24 months from closing at an exercise price of 28 cents per NFT warrant. Each FT unit will comprise one flow-through common share and one common share purchase warrant also to be issued on a non-flow-through basis. Each FT warrant shall be exercisable into one additional common share for 24 months from closing at an exercise price of 30 cents per FT warrant. The exact number of NFT units and FT units sold will be determined at closing of the offering.

The proceeds from the sale of the FT units will be used for Canadian critical minerals exploration expenses at Cascadia's Catch, Mack's Copper, Milner, Idaho Creek and Sands of Time properties in Yukon, and the PIL property in British Columbia. 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.

"This financing will allow us to commence follow-up diamond drilling at Catch in mid-May," commented Graham Downs, Cascadia's president and chief executive officer. "We are excited to step out on the 2023 discovery hole at Catch, which returned 116.60 metres of 0.31 per cent copper with 0.30 g/t [gram per tonne] gold in the second-ever diamond drill hole on the property. Catch hosts a compelling new copper-gold porphyry discovery, with 2024 drilling planned to build on our 2023 success and vector towards the core of the system."

Finder's fees or brokers' commissions may be paid in accordance with TSX Venture Exchange policies. All securities issued as part of the offering will be subject to a hold period in Canada of four months plus one day from the closing of the offering. Completion of the 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 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. 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 offering would not exceed 25 per cent of the Cascadia's market capitalization.

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 in 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 per cent copper with 0.30 g/t gold. Catch 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 g/t gold.

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 additional early-stage regional projects. Cascadia has approximately 37 million shares outstanding and its largest shareholders are Hecla Mining Company (19.6 per cent) and Barrick Gold (7.5 per cent).

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.

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