SOURCE: Cascade Energy, Inc.

June 22, 2005 09:00 ET

Cascade Cancels 20 Million Shares

SACRAMENTO, CA -- (MARKET WIRE) -- June 22, 2005 --Cascade Energy, Inc. (OTC BB: CSCE) today announces that the Company has cancelled 20 million shares of common stock. The shares were originally intended for a past venture that has now been terminated. The shares were tendered by the former President of the Company and have been returned to treasury.

Cascade Energy has acquired two key natural gas assets in the Coyote Creek Project in California and the Empress Project in Alberta, Canada. In addition, Cascade recently announced the acquisition of the Strand Fiord Coal Project on Axel Heiberg Island in Canada's arctic.

Safe harbor for Forward-Looking Statements:

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Cascade Energy Inc. has little or no control.


Cascade Energy, Inc.

"Sam Johal"

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