Angie Cu-Mo Property Drilling Continues To Return Significant Molybdenum Mineralization

TORONTO - Cascada Silver Corp. has received all Phase II drill assay results from its Angie Copper Molybdenum Property. The Phase II drill program continued to return significant intervals of molybdenum mineralization with DAAS-03 returning 2,116 ppm molybdenum over 6 metres from the start of core recovery at 10 metres downhole. This high grade interval was within a 420 metre interval grading 330 ppm molybdenum.

With respect to the dioritic porphyry complex discovered in drill hole DAAS-05, while anomalous copper grades were encountered throughout the porphyry complex, and locally within the overlying rhyodacite, no significant continuous intervals of copper (+0.15%) were returned and no elevated gold assays were received.

Carl Hansen, President and CEO, said, "While the molybdenum intervals continue to be very encouraging and deserve further attention, our primary objective for Angie remains the discovery of a copper-bearing porphyry system and while we did discover a large dioritic porphyry complex, disappointedly, the single hole testing the complex returned only locally elevated copper grades with no significant continuous intervals of copper. That said, we have only tested a portion of the margin of the porphyry complex and, as such, we need to take a step back and review if there are more prospective areas within the 1.3 by 0.5 kilometer target area. At the same time, we continue to actively review properties for acquisition within northern Chile.

Although not the primary focus of Cascada's exploration efforts, the molybdenum mineralization encountered at Angie is significant and will be examined further to determine if there is potential for more continuous zones of higher-grade molybdenum mineralization to be outlined. The higher-grade molybdenum interval encountered at the top of DAAS-03 is thought to be related to molybdenum oxides. The nature of the oxides will be examined.

Furthermore, we need to determine if there are any additional intrusive phases to the porphyry complex which may be better mineralized. Currently, at least two phases of intrusives have been identified within hole DAAS-05 and magnetics suggest that there may be complexities to the porphyry, both geological and structural, that warrant examination.”