As a result of a review by the British Columbia Securities Commission, the Company is issuing the following news release to clarify its technical disclosure.
The Company disclosed a non-compliant historical estimate on its website under the heading Properties - British Columbia -- Toodoggone Property Synopsis -- Property Briefs -- Pine-Fin-Tree.
The historical estimate was originally published in the 'Porphyry Deposits of the Northwestern Cordillera of North America' special edition 46 published for the Geological Society of the CIM, 1995, and was authored by C.M. Rebagliati, B.K. Bowen and D.J. Copeland.
The Company's QP, Dr. Ken Dawson, originally identified the origin of the estimate but did not comment on the relevance or the reliability as the assumptions, parameters and methods used to prepare the historical estimate are unknown. The QP recommended the Company initiate an additional drill program to verify the historic resource. The QP has not done sufficient work to classify the historical estimate as a current mineral resource or mineral reserves. The issuer is not treating the historical estimate as current mineral resources or mineral reserves.
On page 6 of the Company's Management's Discussion & Analysis for the year ended November 30, 2014 the Company discloses that trenching on the Taron Project in Argentina outlined a potential "large-scale rare metal resource in three dimensions". The Company wishes to retract this statement as it does not have a current resource for this property.
The corporate presentation titled, "Cascadero Copper", date 4/4/2013 located on the Company's home page and under the heading Investors -- Presentation, page 27 disclosed exploration targets for Pancho Arias, Las Burras and Incahuasi in which the Company inferred the potential of the exploration targets for each of these properties. The Company retracts these statements because the number of completed drill holes and lack of assays on each showing is not sufficient to calculate a range of the potential quantity and grade of the targets for further exploration. The quantity disclosed was not described as conceptual in nature and that it is uncertain if further exploration will result in the target being delineated as a mineral resource, reserve or a resource according to NI 43-101 guidelines.
In the same corporate presentation "Cascadero Copper", page 30 disclosed Tables containing calculations using gross metal values. The disclosure of a gross metal value is restricted by NI 43-101 and as such these disclosures are being retracted by the Company.
The Corporate Presentation, MD & A and website failed to identify the QP who reviewed and approved the technical information for disclosure as is required by NI 43-101. The Company will include the required QP statement on all future disclosure.
Page 6 of the MD & A for the year ended November 30, 2014 states, "Each drill hole encountered highly anomalous Cs-Rb-Zn-Tl-As-Mn-Ag mineralization over significant intervals which confirmed that Taron has potential to host a world class rare metal deposit with by-product metal credits". This statement is being retracted as the Taron property does not yet have a current mineral resource and the use of the words "world class" is overly promotional and potentially misleading.
The August 28, 2014 news release titled 'Cascadero Copper Corporate Update' suggests the Taron property (has a) "mineralized area that could represent one of the largest, if not the largest accumulation of cesium in the world." This statement is being retracted as the Taron property does not yet have a current mineral resource and to suggest such is overly promotional and potentially misleading.
As this is a release with technical information it has been reviewed and approved by Dr. David Trueman Ph.D. P.Geo. Dr. Trueman is a Director of the Company
Bill McWilliam
Chief Executive Officer
Cascadero Copper Corporation
Email: bill@cascadero.com
Cell: 604.999.0391
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.
