Cascadero Copper Corporation
TSX VENTURE : CCD

Cascadero Copper Corporation

September 26, 2011 09:45 ET

Cascadero Copper Corporation Announces Changes to Recently Announced Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2011) - Cascadero Copper Corp. (TSX VENTURE:CCD) is amending the terms of the 6,000,000 Unit non-brokered private placement announced September 13th 2011.

The 6,000,000 Unit offering is re-priced to $0.15 per Unit for total gross proceeds of up to $900,000.

Each unit consists of one Cascadero Copper common share and one share purchase warrant. Each one share purchase warrant entitles the holder to purchase one Cascadero Copper common share at $0.25 per share for a period of three-years from closing. The Unit is subject to a 121-day hold period from closing. The warrant is transferrable and is subject to an accelerated exercise clause. The trigger price on the accelerated warrant price is reduced from $0.40 to $0.35. The Company will apply for a Supplemental Listing and, subject to TSX Venture Exchange approval, the warrant will trade on the Venture Exchange.

A finder fee is payable in cash or equivalent Units of this offering.

Prior to closing, 105.8 million shares are issued. Completion of the financing is subject to regulatory approval, including acceptance of the financing by the TSX Venture Exchange.

Use of proceeds is to continue exploration in Argentina and working capital.

ABOUT CASCADERO COPPER CORP.

Cascadero Copper is an integrated prospecting and mineral exploration business. The Company has offices in North Vancouver, BC, Sudbury, Ontario and Salta City in the province of Salta, Argentina. The Company generates, acquires and explores mineral properties. Exploration is active in BC, Ontario and Argentina.

In BC, in July 2011 Gold Fields completed a seven-core hole drill program consisting of 2,448-metres on the MEX copper-gold prospect. Gold Fields Ltd holds an option to earn a 75% interest in Cascadero's BC porphyry property by spending C$20 million over four years. Assays are pending.

In Ontario, Cascadero has completed sampling and geophysics on two of its 22 (100%) owned prospects. Initial sampling results are excellent with gold values up to 30-grams per tonne (~ one-ounce gold). Geophysics (IP/Res/Mag) on these properties identified favourable host rocks directly below the gold samples on surface and in the area of drill holes which have gold and copper values.

In Argentina in June 2011, the Company drill tested Las Burras, which produced a discovery hole in a new and potentially large copper-moly-gold deposit. In 2011, Cascadero plans to drill test two additional copper-gold porphyry systems and two high-grade sediment hosted gold showings. The first prospect is Las Cuevas where drilling started on August 10th 2011.

Cascadero's commodity focus is gold, silver and base metals, which metals are hosted in large-scale mineral systems. The Company has identified 18 such targets in BC, Ontario and Argentina.

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.

Contact Information

  • Cascadero Copper Corp.
    Bill McWilliam
    President
    604-999-0391
    Bill@Cascadero.com
    www.cascadero.com

    AJF Consultants
    Allan or Janice Feldman
    BC Office = 604-948-9663 or Cell = 604-377-2942