Cascadia Announces Private Placement Closing

Cascadia Resources Inc. (TSX VENTURE:CCR) (the "Corporation") announces that it
has closed its previously announced non-brokered private placement and issued
3,005,000 Common Shares on a flow-through basis ("Flow-through Shares") at a
price of $0.12 per share for proceeds of $360,600 (the "Private Placement"). The
Corporation waived the previously announced minimum for the Private Placement in
order to accept subscriptions prior to drilling results being encountered. The
Private Placement will be subject to final approval by the TSX Venture Exchange
and to a hold period expiring March 16, 2012.


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, a director of the Corporation, and Trish Olynyk, the CFO of the
Corporation (collectively, the "Related Parties"), participated in the Private
Placement. In particular, Mr. Bowerman, his spouse and a company he controls
subscribed for 1,450,000 Flow-through Shares and Mr. Bowerman now owns, controls
or directs 5,827,832 Common Shares (19.7 % of the outstanding Common Shares) and
Ms. Olynyk subscribed for 850,000 Flow-through Shares and now owns 1,737,944
Common shares (5.8 % of the outstanding Common Shares).


The Private Placement was approved by one of the three directors, Gordon
Bowerman and James Evaskevich having abstained from the vote. The director 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.

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