Cascade Copper Corp. announced it has signed an option agreement to acquire 100% of the Centrefire copper and gold project located ~40 kilometres northeast of Dryden Ontario, Canada. Pursuant to the terms of the option agreement dated October 17, 2023 (the " Agreement"), the Company will earn its interest over a 3 year period by issuing cash and shares to the Vendor.

The vendor will retain a NSR interest with a portion of it available for purchase by the Company. Historic Work at Centrefire. The Centrefire Project has been explored in the past with 10 short (<100m vertical depth) drill holes, 5 surface trenches, continuous chip sampling over multi-meter intervals and geophysics, both surface and airborne including magnetics and EM surveys.

helps Dodge explored the area between 1968 and 1970 and discovered several stacked intervals of copper, gold, and nickel mineralization within several drill holes. A Geotech airborne VTEM and magnetic survey completed in 2010 indicates 2 parallel conductors over the extent of the Project area and structural "mag-breaks" that are coincident with the known copper-gold mineralization. Historic surface grab sampling along the strike length of the coincident mag-high trends and VTEM conductors has returned values up to 1.9% Cu and 23.9 g/t Au.

Project Location. The Centrefire Project is located in the Wabigoon Greenstone Belt in Northwestern Ontario, ~40 kilometers northeast of Dryden and ~35 kilometers southwest of Sioux Lookout. Access is afforded by Ontario Highway 72 running north of the TransCanada Highway and then by all season forest access roads that crisscross the area.

It would be possible to drill the Centrefire Project during the winter months and Cascade is planning to drill as soon as permitting is completed. A high tension powerline cuts across the project area. The geology is predominately mafic metavolcanic flows/pillows adjacent to felsic and intermediate metavolcanics and volcaniclastics.

Iron Formations (IFs) are prevalent in the area and the airborne magnetic signatures indicate two prominent features that would suggest they transect the Project. It is believed that a regional shear zone follows the trend of these highly magnetic units and contributes to the distribution of mineralization at Centrefire. Option Agreement Details.

The option agreement with the vendor of Centrefire allows the Company to acquire 100% of the Project over a three year period by fulfilling the following commitments: $10,000 in cash and 75,000 shares of the Company within 15 days of closing of the transaction. (Approval Date) $10,000 in cash, 75,000 shares of the company within 30 days of the first anniversary of the Approval Date. $15,000 in cash and 75,000 shares of the Company within 30 days of the second anniversary of the Approval Date; $20,000 in cash and 100,000 shares of the Company in 30 days of the third anniversary of the Approval Date.; The vendor will retain a 2% NSR whereby the company may purchase 1% for $1,000,000 in the event of commercial production.

Next steps at Centrefire. Upon approval of the agreement by the relevant authorities, Cascade will apply for a drilling permit at Centrefire and complete some surface sampling work to help detail the planned drill target locations. Cascade will also apply for the anticipated 2024 OJEP grant for an expanded geophysics, modelling, and follow-up drill program of newly generated targets.