Cascada Announces Exchange of Subscription Receipts

Toronto, July 30, 2024 - Cascada Silver Corp. (CSE:CSS) (the "Cascada") is pleased to announce that, further to its news release dated July 16, 2024 announcing shareholder approval of an ordinary resolution, on July 18, 2024, it issued an aggregate of 57,125,676 Cascada common shares (the "Shares") on the exchange of 57,125,676 subscription receipts that were issued by Cascada in a private placement offering that closed on June 5, 2024 (the "Closing Date"). Cascada confirms that it has received approximately $742,634 in gross proceeds raised under the private placement offering which have been released from escrow by its subscription receipt agent in connection with the issuance of Shares.

The Shares issued on exchange of the subscription receipts are subject to a statutory hold period of four months and one day from the Closing Date.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

About Cascada Silver Corp.

Cascada Silver is a mineral exploration company focused on exploration opportunities in Chile. Cascada Silver's team of successful exploration professionals are dedicated to the discovery of mineral deposits that can be progressed into economically viable development projects creating value for all stakeholders.

On behalf of Cascada Silver Corp.,

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, but not limited to, statements regarding Cascada's plans with respect to the its projects and the timing related thereto, the merits of Cascada's projects, Cascada's objectives, plans and strategies, the Offering and the expected use of proceeds thereof, and other project opportunities. Although Cascada believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events.

Cascada cautions that Forward-looking statements are based on the beliefs, estimates and opinions of Cascada's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the Canadian Securities Exchange, Cascada undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that Cascada will encounter unanticipated geological factors, or the possibility that Cascada may not be able to secure permitting and other agency or governmental clearances, necessary to carry out Cascada's exploration plans, risks and uncertainties related to Cascada's ability to complete the Offering and the size of the Offering, and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where Cascada carries on its business that might interfere with Cascada's business and prospects. The reader is urged to refer to Cascada's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.com for a more complete discussion of such risk factors and their potential effects.

Neither the Canadian Securities nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION

IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218198