Mr. Farshad Shirvani reports

CASA MINERALS ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT

Casa Minerals Inc. has closed the first tranche of its previously announced non-brokered private placement. The company has closed on a total of 4,545,455 flow-through units at a price of 5.5 cents per flow-through unit for gross proceeds of up to $250,000.

The FT units consist of one common share and one-half common share purchase warrant. Each of the 2,272,727 warrants will be exercisable at a price of 7.5 cents until March 17, 2027.

Net proceeds from the offering will be used for exploration and development activities on the company's projects in British Columbia, Canada.

All flow-through shares and warrants comprising the flow-through units will be subject to a four-month-and-one-day hold period, during which any resale or other transfer will be restricted in accordance with applicable securities laws.

No finders' fees were paid on this tranche.

The completion of the private placement remains subject to approval of the TSX Venture Exchange.

This tranche includes the subscription of Farshad Shirvani, president and chief executive officer of the company. He subscribed for 4,545,455 flow-through units. As a result, the issuance of units to Mr. Shirvani is considered to be a related-party transaction subject to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. Doubleview is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that participation in the private placement by insiders will not exceed 25 per cent of the fair market value of Casa Minerals Inc.'s market capitalization.

About Casa Minerals Inc.

The company is engaged in the acquisition, exploration and development of mineral properties located in Canada and the United States. Casa owns 90-per-cent interest in the Congress gold mine (Arizona, United States). Additionally, the company owns a 100-per-cent interest in the polymetallic Pitman project (B.C., Canada) and has an option to acquire a 75-per-cent interest in the Arsenault volcanogenic massive sulphide property (B.C., Canada).