Vancouver, British Columbia CANADA, November 03, 2011 /FSC/ - Cascade Resources Ltd. (CC - TSX Venture)("Cascade" or "the Company") is pleased to announce it has settled the dispute regarding the Nalesbitan acquisition termination, publicized on September 8, 2011. The Company has been granted a 10% interest in the 1% Net Mining Revenue Royalty over the Nalesbitan gold and copper project in the Philippines, in return for releasing the vendors of the Nalesbitan project from any claims.
Cascade wishes to thank its litigation team at Blake Cassels & Graydon LLP for representing its interests in this action, as well as the support of Anfield Sujir Kennedy & Durno LLP in Vancouver and Fortun Narvasa & Salazar in Makati City, Philippines. The Company can now focus exclusively on rebuilding shareholder value and management looks forward to sharing its plans with shareholders and investors in the near future.
On behalf of the Board of Directors;
For further information please contact:
Telephone: (604) 683-8236
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