Cascadia Closes Private Placement

Cascadia Resources Inc. (the "Corporation") (TSX VENTURE:CCR) is pleased to
announce it has closed its previously announced (see press release dated
December 15, 2010) non-brokered private placement of 10,000,000 common shares of
the Corporation issued on a flow-through basis ("Flow-through Shares") at a
price of $0.10 per share for gross proceeds of $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 is subject to final 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 participated in the Private Placement
(collectively the "Related Parties"). The Related Parties, in particular, Mr.
Bowerman and his spouse subscribed for 1,550,000 Common Shares and Mr. Bowerman
now owns, controls or directs 4,374,332 Common Shares (16.5% of the outstanding
Common Shares), a company controlled by Mr. Evaskevich subscribed for 1,000,000
Common Shares and Mr. Evaskevich now owns, controls or directs 2,554,000 Common
Shares (9.6% of the outstanding Common Shares) and Ms. Olynyk subscribed for
500,000 Common Shares and now owns 887,944 Common shares (3.3% of the
outstanding Common Shares).


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.