Salta Exploraciones S.A. (Salta), Cascadero's (TSX VENTURE:CCD) 50% owned
Argentine subsidiary and Lumina Copper's 100% owned Argentine subsidiary,
Corrientes Argentine S.A. (Corrientes), have agreed to enter a Memorandum of
Understanding (MOU) to conduct a 50/50 Joint Venture (JV) exploration program on
the Francisco I and Francisco II properties in north western Argentina. The
properties are, immediately adjacent to the west of Lumina's 1.7 billion tonne
Taca Taca Cu-Mo-Au deposit. Funding is pro-rata between Corriente and Salta,
which each hold a 50% interest Francisco I and Francisco II. Corrientes was
appointed as program operator. 


The objective of the MOU is to complete the required investment plan for both
properties as dictated by article 217/218 of the Argentine mining code, which
requires expenditures of AP$ 3,120,000 on Francisco I by November 17th 2012 and
AP$ 2,740,000 on Francisco II by May 3rd 2013. The total expenditure is
approximately US$ 1,300,000 of which Cascadero Copper is required to provide US$
325,000. 


The first part of the exploration program was recently completed and consisted
of a limited-scale geochemical program using Mobile Metal Ion technology (MMI)
on Francisco I and II, and property scale gravity and magnetic geophysical
surveys. Francisco I consists of 1,313 hectares and Francisco II, which adjoins
Francisco I to the south, is 1,000 hectares. 


The JV completed an MMI survey that covered a small area in the north west part
of Francisco I and about one-third of the Francisco II claim immediately to the
west of the JV and Taca Taca common boundary. The data were complied and
interpreted by Mark Fedikow of Mount Morgan Resources Ltd. The MMI data from the
Francisco II survey delineated a multi-sample silver and gold high-response
anomaly with an approximate area of 500 metres east west by 2,000 metres north
south. Lower contrast but scattered As, Cu, Mo, Pb and Zn responses are
associated with the silver-gold anomaly.


Drilling is expected to start on Francisco I on October 20th. The drill targets
on Francisco I are a combination of gravity and magnetic anomalies and areas of
surface rock grab samples that assayed copper and gold values. Outcrops are not
common in this area.


The drill program on Francisco II is proposed as a series of step out holes and
offset locations at 150 metre spacing to the west of Lumina's existing grid
where exceptional results were reported in a Lumina news release from reverse
circulation drill hole TTRC-19, which assayed 0.83% CuEq over an interval of 222
metres. The drill hole locations Francisco II are designed to test the
continuation of this mineralization along an apparent northwesterly structural
trend. In addition, three reconnaissance style drill holes at 300 metre spacing
are planned to test the contact relationship with the volcanic sediments and the
underlying granite host rock. 


ABOUT CASCADERO COPPER

Cascadero Copper is an integrated prospecting and mineral exploration business
with offices in North Vancouver, BC, Canada, Sudbury, Ontario, Canada and Salta
City in the province of Salta, Republic of Argentina. The Company generates,
acquires and explores mineral properties and is active in the three
jurisdictions. In north central British Columbia, the Company has a 100%
interest in a 31,000 hectare property in the Toodoggone region, which is
prospective for copper gold porphyry systems. This property is subject to a C$20
million Joint Venture with Gold Fields. 


In Ontario, the Company holds or has the right to acquire a 100% in 17
properties in the Sudbury, Swayze and Timmins camps, which are volcanic and
sediment hosted copper gold prospects. Geochemistry programs are currently
underway. 


In north western Argentina, the Company holds a 50% interest in a 46 property
portfolio, which consists mainly of bulk mineable copper-moly-gold porphyries
and bulk mineable sediment hosted silver-gold plus base and rare metals. 


Cascadero's commodity focus is gold, silver, moly, copper, base and rare metal
hosted in large-scale bulk mineable mineral systems. 


In 2009, the Company discovered Taron, a large bulk mineable sediment hosted
epithermal rare metal deposit in Argentina. In 2011, Cascadero discovered Las
Burras, a new Argentine Cu-Mo-Au porphyry. 


The Company holds a large claim block that adjoins Lumina Copper's 1.7 billion
tonne Taca Bajo Cu-Mo-Au deposit. Several copper and gold showings exist on
these claims. A first stage geochemical program is complete and a drill program
is in the planning stage. 


In 2012 to 2013, Cascadero intends to conduct exploration in three core areas:
Pancho Arias Cu-Mo-Au porphyry District, the Taca Taca Mineral District and the
bulk mineable sediment hosted silver prospects in the El Oculto District.
Exploration, metallurgy and marketing studies are, by way of an option
agreement, is also planned for Taron, an exciting large-scale sediment hosted
rare metal discovery.
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