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Cascada Silver Provides Exploration Update on the Agua Amarga and Marilin Projects

TORONTO, Ontario, June 29, 2021 Cascada Silver Corp. (CSE:CSS) ("Cascada") is pleased to provide updates on drilling activities at its Agua Amarga silver project and the underground exploration and sampling program at its Marilin gold silver project, both located in Chile’s Atacama Region.

At the Agua Amarga project, the previously announced reverse circulation drilling program has been completed with four drill holes targeting the down dip extensions of the silver-bearing veins which had been mined during the 1800’s.  Samples from the drilling program have been sent for assaying. It is anticipated that results will be available in 3 to 5 weeks, which is longer than normal turn-around for results due to COVID-19 restrictions at the laboratories in Chile.  

At the Marilin project, the underground exploration adit has been completed with the adit driven along 40 metres of the Marilin vein structure exposing a 0.90 to 1.50 metre wide zone of oxidized quartz carbonate veining.  Samples, collected at the adit face after each blast, have been sent for assaying with results anticipated in 2 to 4 weeks.  In addition to the underground exploration, approximately 200 metres to the southeast and 120 metres above the adit, two samples were collected from the sides of the main Marilin quartz vein, which had historically been exposed by a deep pit. One 0.6 metre chip sample collected across a quartz vein with iron and copper oxides returned assay results of 2.52 gram per tonne (“g/t”) gold, 57.3 g/t silver and 1.35% copper.  A second 0.2 metre chip sample of druzy quartz with calcite and iron and copper oxides returned 1.41 g/t gold, 152.8 g/t silver and 1.6% copper.  The main Marilin vein itself could not be accessed for sampling.

“The exploration programs at the Agua Amarga and Marilin projects were completed as planned and within budget”, said Carl Hansen, Cascada’s CEO, “and we are now waiting for assay results from both programs.  In the meantime, as we prepare further exploration activities, we will take advantage of the delay in assay turnaround times to catch up on conducting field examinations of potential properties which have been submitted to Cascada for review”.

 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.

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", "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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