Cascade Acquires Gold-Copper Project in the Philippines

Vancouver-based Cascade Resources Ltd. has entered into agreement to acquire an 80% economic interest in the Nalesbitan gold-copper project located in the northern province of the Bicol Peninsula in the Philippines. In return for 80% of the exploratory property, Cascade will fund C$1 million of development capital. It has the option of acquiring the remaining 20% by spending C$2 million in direct project costs within three years. The agreement also includes the acquisition of 100% of ore processing arrangements for the Nalesbitan Project.