Cascadero Copper Corporation Announces 1,000,000 Unit Non-Brokered Private Placement Priced at $0.10 per Unit
(CCD: TSXV)
March 19th 2013
On March 6th 2009 Cascadero Copper Corporation (“Cascadero”) is pleased to announce that it has signed an Option and Joint Venture Exploration Agreement (the "Option Agreement") with Gold Fields Toodoggone Exploration Corporation ("Gold Fields"), a member of the Gold Fields Limited group of companies. Pursuant to the Option Agreement, Gold Fields can earn a 51% interest in Cascadero's Toodoggone Project in British Columbia, Canada, by spending at least C$5 million over a three year option period, which has been extended by force majeure for about one year. Once the 51% interest has vested, Gold Fields can, at its discretion, earn a further 24% interest by completing a feasibility study, sole funding a further C$15 million in expenditure, or form a Joint Venture with Cascadero holding a 49% interest.
Gold Fields has achieved the minimum expenditure within the terms of the current Option and Joint Venture Agreement and with this Private Placement will vest a 51% interest in Cascadero's Toodoggone Project. Gold Fields is subscribing for 1,000,000 Cascadero Copper units at C$0.10 per unit for total proceeds of C$100,000. Each unit is comprised of one common share and one non-transferrable warrant, whereby the warrant entitles the holder to purchase one additional common share at C$0.12 for a period of one-year from closing. The units are subject to a four-month hold period.
Completion of the financing is subject to regulatory approval, including acceptance by the TSX Venture Exchange. Cascadero intends to use the proceeds for general working capital purposes. Cascadero had approximately 150 million shares issued prior to this Private Placement.
Cascadero Copper is focused on copper-gold porphyry prospects in British Columbia and Argentina as well as disseminated copper-gold prospects in Ontario, Canada.
Bill McWilliam President Cascadero Copper Corp 604-999-0391 [email protected]
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ABOUT CASCADERO COPPER
Cascadero Copper is an integrated prospecting and mineral exploration business with a head office in North Vancouver, BC, Canada, and exploration properties in British Columbia, Ontario, Canada and north western Argentina primarily in the province of Salta. The Company generates, acquires and explores mineral properties and is active in the three jurisdictions.
In north central British Columbia, the Company has a 100% interest in a 32,000 hectare property in the Toodoggone region, which is prospective for copper gold porphyry systems. This property is subject to a C$20 million Joint Venture with Gold Fields.
In Ontario, the Company holds or has the right to acquire a 100% in 10 properties in the Sudbury, Swayze and Timmins camps, which are volcanic and sediment hosted disseminated copper- gold prospects.
In north western Argentina, the Company holds a 50% interest in a 46 property portfolio, which consists mainly of bulk mineable copper-moly-gold porphyries and bulk mineable sediment hosted silver-gold plus base and rare metals.
Cascadero's commodity focus is gold, silver, moly, copper, base and rare metal hosted in bulk mineable mineral systems.
In 2009, the Company discovered Taron, a large sediment hosted epithermal rare metal deposit in Argentina. In 2011, Cascadero discovered Las Burras and Incahuasi in 2012, two new Argentine Cu-Mo-Au porphyries. In 2012 the Company drilled seven core holes at Pancho Arias. The assay results are very positive and Pancho has potential to be a large copper-moly porphyry system.
The Company holds a large claim block that adjoins Lumina Copper's Taca Taca Bajo Cu-Mo-Au deposit. Several copper and gold showings exist on these claims. A first stage geochemical program was completed . In late 2012, 10 RC drill holes were completed.
In 2013, Cascadero intends to monetize assets in its core areas: the Santa Rosa Cu-Mo-Au porphyry district; the Taca Taca Mineral district; and, the sediment hosted silver prospects in the El Oculto district.
For more information please contact:
Allan or Janice Feldman at AJF Consultants:
1207 Beach Grove Road, Tsawwassen, BC
Office = 604-948-9663 Cell = 604-377-2942
Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.