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Cascada Silver Commences Agua Amarga Drilling Program

TORONTO, Ontario, June 02, 2021 – Cascada Silver Corp. (CSE:CSS) ("Cascada") is pleased to report that the reverse circulation drilling program at its Agua Amarga silver project has commenced with the first phase of drilling targeting the potential down dip extension of high grade silver veins mined during the 1800’s.  The Agua Amarga silver deposits were discovered in 1811 and mined until 1881 with early reports noting silver grades varying from 3,078 to 41,035 grams per tonne.

The two phase drilling program comprises an initial 1,000 metres of drilling focusing on high priority targets to be followed, depending upon the initial results, by a further 1,000 metres of drilling. The first set of four drill holes are planned to test the most prominent silver vein systems, identified during the recently completed geological mapping program, at depths of between 100 and 175 metres below surface which is projected to be below the historical mining activities.  Figure 1 shows the location of the surface expression of the mined silver veins and notes the location of the planned drill holes.

“After the sequential delays of the past year, we are excited that the Agua Amarga drill program has commenced”, said Carl Hansen, CEO of Cascada.  “The first phase of drilling is targeting the four most extensive remnant silver veins which were identified by Cascada field crews during the recently completed mapping program.  The first phase of drilling is anticipated to take approximately 10 days to complete.  As the assay laboratories in Chile are backed up do to COVID-19 protocols, as is the case in many countries, the goal is to prioritize samples for analyses to accelerate the return of key assay results at which time plans for phase two drilling will be finalized.”

NI 43-101 Technical Disclosure

The Qualified Person, as defined by National Instrument 43-101 of the Canadian Securities Administrators, for Cascada’s exploration activities in Chile is Sergio Diaz, a resident of Santiago, Chile. Mr. Diaz is a Public Registered Person for Reserves and Resources N° 51, in Chile and is also registered in the Colegio de Geólogos de Chile under N° 315.

About Cascada Silver Corp.

Cascada is a mineral exploration company focused on silver and gold exploration in Latin America with four properties under option in Chile, including the historic Agua Amarga silver project where high-grade epithermal silver-bearing veins were mined during the 19th century. Cascada's team of successful exploration professionals are dedicated to the discovery of mineral deposits that can be progressed into economically viable development projects creating value for all stakeholders.

Agua Amarga Project Map

On behalf of Cascada Silver Corp.,

Carl Hansen, CEO

For additional information, please contact us at:

info@cascadasilver.com

Mars Investor Relations
(647) 557-6651
css@marsinvestorrelations.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

This news release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to: plans for the evaluation of exploration properties; the success of evaluation plans; the success of exploration activities; mine development prospects; and, potential for future metals production. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", “projected”, "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: changes in economic parameters and assumptions; all aspects related to the timing of exploration activities and receipt of exploration results; the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; the results of regulatory and permitting processes; future metals price; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of economic and technical studies; delays in obtaining governmental approvals or financing or in the completion of exploration; as well as those factors disclosed in Cascada's publicly filed documents.

Although Cascada has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepts
responsibility for the adequacy or accuracy of the content of this news release.

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