Mr. Jeffrey Ackert reports

CASCADE COPPER PROVIDES UPDATE ON ITS MAIDEN DRILL PROGRAM AT THE CENTREFIRE COPPER-GOLD PROJECT NEAR DRYDEN, NW ONTARIO

Cascade Copper Corp. has completed the priority sampling of all holes at its maiden drilling program at the Centrefire copper-gold project, located 40 kilometres from Dryden, Ont. All five holes intersected sulphide mineralization indicative of a volcanogenic massive sulphide environment. Holes CF-26-03 to 05 exhibit significant copper mineralization as chalcopyrite.

"Sampling has been completed on all priority holes at Centrefire, with holes CF-26-03, 04 and 05 being prioritized in the sequence," stated Jeffrey Ackert, president and chief executive officer of Cascade Copper. "All samples have been submitted to the assay lab, and we would expect the initial results by mid- to late September.

Project description

The 2,500-hectare Centrefire Cu-Au project is located in the Wabigoon greenstone belt in Northwestern Ontario, approximately 40 kilometres northeast of Dryden and approximately 35 kilometres southwest of Sioux Lookout. It has been minimally explored in the past with 10 short (less-than-75-metre vertical depth) drill holes, five surface trenches, continuous channel sampling over multimetre intervals, and geophysics, both surface and airborne, including magnetics and electromagnetics surveys. Phelps Dodge explored the area between 1968 and 1970, and discovered several stacked intervals of copper, gold and nickel mineralization within the majority of drill holes. Recent modern work by Cascade has confirmed surface mineralization, reinterpreted and modelled the EM and magnetic geophysics, and defined priority drill targets from this. Note that recent surface sampling has returned values up to 2.86 per cent copper, 2.84 grams per tonne gold and 23.5 g/t silver.

What is next

The analysis methods at Activation Laboratories will be a four-acid near total digestion with ultratrace element ICP-MS and ICP-OES technique. Any overlimits above 10,000 parts per million (1.0 per cent) on copper will be run with their standard four-acid ICP-OES protocol. Gold analysis will be done by 30-gram fire assay with atomic absorption finish.

Pending results, a borehole electromagnetics survey will be contemplated to test for hidden volcanogenic massive sulphide style conductors in the vicinity of the current drilling. This would lead to a follow-up phase 2 drill program that would target along strike and to depth of the best intersections. Further development of the full 10 kilometres on strike potential would be warranted, starting with an airborne electromagnetics survey followed by surface follow-up and drill targeting.

Note: The information disclosed from adjacent properties is not necessarily indicative of the mineralization on the Centrefire project.

The technical information in this news release was prepared and approved by Shannon Baird, PGeo, a qualified person as defined in National Instrument 43-101. Mr. Baird is vice-president, exploration, of Cascade Copper and registered as a professional geoscientist with the Professional Geoscientists of Ontario as well as the Engineers and Geoscientists of British Columbia.

Management cautions that core visuals and grab samples are selective in nature to begin with, and are not representative of the hole or property in its entirety or indicative of any grade over all. Assay results are pending, and visual identification of minerals does not guarantee economic grades. These preliminary visual observations are awaiting laboratory confirmation.

About Cascade Copper Corp.

Cascade Copper is an exploration-stage natural resource company engaged in the evaluation, acquisition and exploration of copper-based mineral resource properties. Cascade is focused on copper and gold, porphyry, and mesothermal gold deposits in British Columbia and volcanogenic massive sulphide and banded iron formation copper, gold and silver style deposits in Ontario. Cascade's priority is to conduct exploration using modern technology that includes 3-D inversion modelling of geophysics, lidar elevation models and artificial intelligence enhanced predictive modelling from all historic and modern data inputs. Drilling is planned on several of its copper-gold targets this year. Cascade has five projects, including the Copper Plateau copper-molybdenum project, the Centrefire copper-gold project, the Rogers Creek copper-gold project, the Fire Mountain copper-gold project and the Bendor gold-tungsten project.

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