Not for distribution to U.S. Newswire Services or for dissemination in the United States.  Any failure to comply with this restriction may constitute a violation of U.S. securities laws.

North Vancouver, BC, Canada, December 15, 2021 – Cascadero Copper Corporation (“Cascadero” or the “Company”) (TSXV: CCD) is pleased to announce that on December 14, 2021, it completed the mail out of the materials for its previously announced rights offering (the "Rights Offering") to eligible shareholders.  A copy of the documents are also available for download from the Company's profile on SEDAR at: www.sedar.com.

The Company is offering rights (the “Rights”) to eligible holders of its common shares (the “Shareholders”) as of the record date of December 9, 2021 on the basis of one right for each two common shares held.  Each of the Rights will entitle the eligible holder to subscribe for one common share of the Company upon payment of a subscription price of $0.015 per share.  The Rights Offering will expire at 2:00 p.m. (Vancouver time) on January 13, 2022 (the “Expiry Time”), after which time unexercised rights will be void and of no value.  The Rights are listed and posted for trading on the TSX Venture Exchange (“TSXV”) under the symbol “CCD.RT” on a “when issued” basis and will expire at the Expiry Time.

The Rights are offered to shareholders resident in each province and territory of Canada except than Quebec (the “Eligible Jurisdictions”) and shareholders who have satisfied the requirements of the Company for those resident outside of the Eligible Jurisdictions.  Accordingly, and subject to the detailed provisions of the rights offering circular dated November 30, 2021 (the “Circular”), Rights DRS certificates (the “Rights Certificates”) and subscription forms have not been mailed to Shareholders resident outside of the Eligible Jurisdictions, unless such Shareholders are able to establish to the satisfaction of the Company, on or before January 4, 2022, that they are eligible to participate in the Rights Offering.  The Company requests any ineligible shareholder interested in exercising their rights to contact the Rights agent, Computershare Investor Services Inc., or the Company at their earliest convenience.  Shareholders who fully exercise their rights will be entitled to subscribe pro rata for additional Shares not otherwise purchased, if any, as a result of unexercised rights prior to the Expiry Time, subject to certain limitations set out in the Circular.

Registered shareholders who wish to exercise their Rights must forward the completed subscription form, together with the applicable funds, to Computershare Investor Services Inc. on or before the Expiry Time.  Shareholders who own their shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary.  Rights delivered to brokers, dealers or other intermediaries may not be delivered by those intermediaries to beneficial shareholders who are residents in a jurisdiction outside of Canada or in Quebec.

For more information about the Rights Offering, please see the Company's news release dated November 25, 2021.  The Rights Offering is subject to regulatory approval, including the approval of the TSXV.  The Company has obtained conditional approval from the TSXV.

The Rights and the underlying Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States.  This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities within the United States, and the Rights (a) may not be offered or sold in the United States or to any U.S. person, and (b) may not be exercised within the United States or for the account or benefit of any U.S. person or any person in the United States.  “United States” and “U.S. person” are as defined in Regulation S under the U.S. Securities Act.

About Cascadero Copper Corporation

Cascadero Copper Corporation is focused on the exploration and development of its properties located in Salta, Argentina.  The Company currently has a joint venture with Golden Minerals on its Sarita Este license.  In addition, the Company has newly appointed technical advisors to work with the board and management to provide advice on exploration and development of the Cascadero mineral properties in Argentina and on other future properties of merit.  The Cascadero research and development team that was instrumental in developing the patent-pending mineral processing flowsheet on Taron mineral samples are expected to continue their work under the guidance of the Board.

All material information on the Company may be found on its website at www.cascadero.com and on SEDAR at www.sedar.com.

For further information, please contact:
Dr. George Gale
Interim CEO
Tel: 604-985-3327

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding “Forward-Looking” Information.

This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.

Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, the rights offering and the completion of the rights offering.  Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.  Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies.  Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors.  Such factors include, without limitation, the risk that the Company is not able to complete the rights offering or the Company does not receive the approval or acceptance of the TSX Venture Exchange.  Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times.  Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

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