Cascadia International Resources Inc.

Cascadia International Resources Inc.

March 15, 2007 09:28 ET

Cascadia Announces Baker Lake Nickel Project

CALGARY, ALBERTA--(CCNMatthews - March 15, 2007) -


Cascadia International Resources Inc. (TSX VENTURE:CJ) ("Cascadia") is pleased to announce that it has signed a letter of intent to earn a 50% interest in the Mum claims held by Tanqueray Resources Ltd. (Tanqueray) in the Baker Lake region of Nunavut.

Cascadia will provide a cash payment of $50,000 and will issues 100,000 common shares to Tanqueray and pledge to spend a minimum of $200,000 on exploration in the first year of the deal. In the second year, Cascadia will issue 200,000 common shares to Tanqueray and complete a minimum 1,000 metre drill program to earn a 50% interest in the Mum claims. Upon Cascadia earning a 50% interest, the parties have agreed to enter into a Joint Venture Agreement. Cascadia will be able to use Tanqueray's field camp adjacent to the Mum claims while exploring the Mum property.

The Mum property consists of 55,382 acres on 22 claims, located approximately 75 kilometers southwest of the hamlet of Baker Lake. The Mum claims have a Komatiitic Nickel, Platinum, Palladium potential and a Thelon Basin Uranium potential and are located approximately 25 Kilometers southeast of the Kiggavik-Sissons Uranium project, the End Uranium project and the Andrew Lake Uranium project on the Eastern side of the Thelon Sandstone basin. Grab samples from an area near the center of the Mum claims assayed up to 11% Nickel and 16 grams per tonne of Platinum and Palladium. Cascadia intends to fly an airborne electromagnetic, magnetic and radiometric survey over the entire property this year as well as ground reconnaissance in order to prepare for a 2008 summer drill program.

Cascadia is also pleased to announce its intention to complete a non-brokered private placement of a maximum of 3,000,000 units ("Units") at $0.12 (Cdn Funds) per Unit (the "Offering"). Each Unit will be comprised of one common share of the Corporation issued on a "flow-through" basis under the Income Tax Act (Canada) (the "FT Shares") and one-half of one common share purchase warrant (the "Warrants), with each whole Warrant exercisable anytime up to December 31, 2007 at $0.15 (Cdn Funds) per share. The Offering is subject to approval by the TSX Venture Exchange Inc. The proceeds from the Offering will be used to incur eligible Canadian Exploration and Development Expenses. In particular, the Offering will provide the funds required for the 2007 Baker Lake Project.

Mr. Robert (Bob) Middleton has resigned from the Board of Directors of Cascadia effective immediately, but has agreed to join the Advisory Board of Cascadia so as to limit his time commitments to the company to technical matters only. We wish to thank Mr. Middleton for efforts on the Board and welcome him to the Advisory Board.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

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