Casa Minerals Concludes First Phase Drill Program at the Congress Gold Mine, and Successfully Intersects Congress and Niagara Vein Structures in All Targeted Areas

Vancouver, Canada - Newsfile Corp. - October 4, 2022 - Casa Minerals Inc. (TSXV: CASA) (OTC Pink: CASXF) (FSE: OCM) (the "Company or "Casa") is pleased to announce it has successfully completed the first phase diamond drilling, totaling 6,828 feet, at its Congress gold deposit located in Martinez Mining District of Yavapai County, Arizona.

Drilling intersected newly discovered vein structures, as well as the formerly productive Congress and Niagara veins. The initial phase of drilling was designed to improve historic data and to generate updated information on the geology and mineralization of the Congress Gold Mine gold-bearing structures. Distinct veining structures were encountered as expected, as well as previously unrecorded veins. The veins have been carefully mapped, measured, and sampled to be assayed and that data will be used in the future resource evaluation.

Casa Minerals president and CEO Mr. Farshad Shirvani commented, "We are very encouraged by the completion of this first phase of drilling. The Company's objective is to advance the Congress Mine with multi-stage exploration and development programs. This initial drilling advances Casa toward re-establishing the Congress Gold Mine as a potentially producing gold mine once again."

Casa's HQ diamond drill program was guided by a Registered Professional Geologist who supervised drilling operations, assumed custody of drill cores, and managed core processing and sampling. Core samples are being analysed at an independent ISO-9000 certified commercial analytical laboratory, and results will be released following receipt and confirmation.

Ten drill holes with a total length of 6,828 ft were drilled with majority on the Congress and Queen of the Hills Claim blocks. Locations and other details are presented in Table 1. True thicknesses have not been determined and are presented as measured in cores.

Hole East (m) North (m) Elev. (m) Azimuth Inclination Length (ft) Remarks
CGC-001 329060 3786521 1023 0 -90 498 3 veins recorded: longest vein core length is 13 ft.
CGC-002 329068 3786529 1023 225 -50 245 3 veins recorded: longest vein core length is 20 ft.
CGC-003 329217 3786324 1045 0 -90 757 1 vein recorded with 27 ft.
CGC-004 329217 3786326 1045 225 -50 420 2 veins recorded: longest vein core length is 40 ft.
CGC-005 329370 3786165 1100 0 -90 1,197 12 veins recorded: longest vein core length is 16 ft.
CGC-006 329372 3786160 1099 270 -50 483 1 vein recorded with 28 ft.
CGC-007 329920 3786384 1070 0 -90 928 5 veins recorded: longest vein core length is 26 ft.
CGC-008 329920 3786386 1070 160 -50 750 6 veins recorded: longest vein core length is 33 ft.
CGC-009 329850 3786182 1045 0 -90 800 18 veins recorded: longest vein core length is 80 ft.
CGC-010 329850 3786184 1045 190 -50 750 5 veins recorded: longest vein core length is 29 ft.

Table 1: Drill hole location and details.

The following map illustrates the location of drill holes and observed vein intercepts.

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Map 1. Property, Drill Holes and Intercepts

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Notes:
1- The vein thickness is combined for each drill hole.
2- Veining is based on visual observations, assays pending.

Table 2. Tabulation of vein observations.

Table 2. (a)
Continued: Table 2. (b)
Hole From (ft) To (ft) Thickness (ft) Code
Hole From (ft) To (ft) Thickness (ft) Code
CGC-001 10 22 12 Vein
CGC-008 81 87 6 Vein
CGC-001 242 244 2 Vein
CGC-008 219 228 9 Vein
CGC-001 244 257 13 Vein
CGC-008 251 254 3 Vein
CGC-002 16 36 20 Vein
CGC-008 313 315 2 Vein
CGC-002 174 179 5 Vein
CGC-008 324 326 2 Vein
CGC-002 206 219 13 Vein
CGC-009 8 31 23 Vein
CGC-003 258 285 27 Vein
CGC-009 63 72 9 Vein
CGC-004 142 157 15 Vein
CGC-009 181 184 3 Vein
CGC-004 167 207 40 Vein
CGC-009 193 198.5 5.5 Vein
CGC-005 263 279 16 Vein
CGC-009 200.5 205 4.5 Vein
CGC-005 320 326 6 Vein
CGC-009 758 764 6 Vein
CGC-005 350 355 5 Vein
CGC-009 840 920 80 Vein
CGC-005 412 423.5 11.5 Vein
CGC-009 922 925 3 Vein
CGC-005 472 479 7 Vein
CGC-009 930 939 9 Vein
CGC-005 528 533 5 Vein
CGC-009 944 948 4 Vein
CGC-005 533 541 8 Vein
CGC-009 1008 1013 5 Vein
CGC-005 717 729 12 Vein
CGC-009 1037 1040 3 Vein
CGC-005 847 853.5 6.5 Vein
CGC-009 1046 1054 8 Vein
CGC-005 884 886 2 Vein
CGC-009 1062 1068 6 Vein
CGC-005 1040 1056 16 Vein
CGC-009 1076 1087 11 Vein
CGC-005 1099 1105 6 Vein
CGC-009 1097 1107 10 Vein
CGC-006 194 222 28 Vein
CGC-009 1112 1120 8 Vein
CGC-007 26 52 26 Vein
CGC-009 1170 1178 8 Vein
CGC-007 202 208 6 Vein
CGC-010 0 29 29 Vein
CGC-007 267.5 276 8.5 Vein
CGC-010 64 74 10 Vein
CGC-007 486 489 3 Vein
CGC-010 218 224 6 Vein
CGC-007 708 714 6 Vein
CGC-010 237.5 260 22.5 Vein
CGC-008 0 33 33 Vein
CGC-010 337 340 3 Vein

About Congress Gold Mine Project:
Since purchasing the Congress property, Casa has compiled all available technical data concerning the former mining operations. Documented mining operations, at intervals from 1880 to 1980 produced 426,000 ounces of gold, followed from 1982 to 1988 by poorly documented operations that may have produced an additional 75,000 ounces.

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About Casa Minerals Inc.
The Company is engaged in the acquisition, exploration and development of mineral properties located in Canada and the USA. Casa owns ninety percent (90%) interest in the Congress gold mine (Arizona, USA). This historic high-grade gold producing mine has not been explored nor been in production since 1992. Additionally, the Company owns a one hundred percent (100%) interest in the polymetallic Pitman and Keaper properties (BC, Canada) and has an option to acquire a seventy-five percent (75%) interest in the Arsenault VMS Property (BC, Canada).

On Behalf of Board of Directors

Farshad Shirvani, M.Sc. Geology
President and CEO

For more information, please contact:
Casa Minerals Inc.
Farshad Shirvani, President & CEO
Phone: (604) 678-9587
Email: contact@casaminerals.com
https://www.casaminerals.com

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Certain of the statements made and information contained herein may constitute "forward-looking information." In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.