Cascadia Announces Private Placement and Management Change

Cascadia Resources Inc. (the "Corporation") (TSX VENTURE:CCR) announces a non-
brokered private placement of a minimum of 4,000,000 and a maximum of 10,000,000
common shares of the Corporation to be issued on a flow-through basis
("Flow-through Shares") at a price of $0.10 per share for proceeds of $400,000
to $1,000,000 (the "Private Placement"). Proceeds from the private placement
will be used to fund exploration and development drilling and related activities
on properties farmed into or to be acquired. The Private Placement will be
subject to approval by the TSX Venture Exchange.


Pursuant to the policies of the TSX Venture Exchange and Multilateral Instrument
61-101, the Private Placement is classified as a "related party transaction" as
Gordon Bowerman and James Evaskevich, directors of the Corporation, and Trish
Olynyk, the CFO of the Corporation intend to subscribe for an as yet
undetermined amount of the Private Placement (collectively the "Related
Parties").


The Private Placement was approved by two of the four directors, the two Related
Party directors having abstained from the vote. The directors who voted
determined that exemptions from the formal valuation and minority shareholder
approval requirements under the Multilateral Instrument 61-101, are available
since the fair market value of the consideration paid by the Related Parties in
connection with the Private Placement is for an amount less than $2,500,000.


The Corporation also announces that James Evaskevich has stepped down as
President of the Corporation, but remains a director of the Corporation. Gordon
Bowerman has accepted the position of President for an interim period while the
Corporation looks for a permanent replacement for Mr. Evaskevich.

(TSXV:CCR)
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