Vancouver, British Columbia--(Newsfile Corp. - February 29, 2024) - Casa Minerals Inc. (TSXV: CASA) (OTC Pink: CASXF) (FSE: 0CM) (the "Company" or "Casa"), announces that, further to its news release dated February 9, 2024, the board of directors of the Company has approved a warrant incentive program (the "Warrant Incentive Program").

Under the Warrant Incentive Program, the Company will offer holders of 16,400,000 share purchase warrants issued on May 20, 2021 (the "May Warrants"), 3,600,00 share purchase warrants issued on June 24, 2021 (the "June Warrants") and 1,014,200 share purchase warrants issued on July 8, 2021 (the "July Warrants" and together with the May Warrants and the June Warrants, the "Outstanding Warrants") the opportunity to exercise of their Outstanding Warrants between 12:00 a.m. Vancouver time on March 11, 2024 to 12:00 p.m. Vancouver time on April 10, 2024. In return for the early exercise of an Outstanding Warrant, the holder will receive one common share in the capital of the Company (a "Share"), as per the original warrant terms, plus as an incentive, one common share warrant (an "Incentive Warrant"). A holder may elect to exercise all, none, or a portion of their Outstanding Warrants. The Company's management do not hold any of the Outstanding Warrants.

Each Incentive Warrant will have an exercise price of $0.10 and expire 12 months from the date of issuance, subject to the Company's right to accelerate the expiry date. If the volume-weighted average closing price of the shares on the TSX Venture Exchange is greater than $0.17 for 5 consecutive trading days, then the Company may, at its sole option, elect to provide notice (the "Acceleration Notice") to the Incentive Warrant holders, which Acceleration Notice may be provided by news release, that the Incentive Warrants will expire at 4:00pm (Vancouver time) on the date that is 30 days from the date of the Acceleration Notice (the "Accelerated Notice Expiry Date"). In such instance, all Incentive Warrants that are not exercised prior to the Accelerated Expiry Date will expire on the Accelerated Expiry Date.

Each Outstanding Warrant are exercisable at a price of $0.10 per share (originally exercisable at $0.30 per share and re-priced to $0.10 per share on July 28, 2023) and expire on February 20, 2025. The Company recently extended the expiry date of the Outstanding Warrants from February 20, 2024 to February 20, 2025. Further, the Outstanding Warrants are subject to an acceleration clause. If the closing price of the Shares on the TSX Venture Exchange is greater than $0.45 for 10 consecutive trading days, then the Company may, at its sole option, elect to provide notice (the "Acceleration Notice") to the holders of the Warrants, which Acceleration Notice may be provided by news release, that the Warrants will expire at 4:00 p.m. (Vancouver time) on the date that is 30 days from the date of the Acceleration Notice (the "Accelerated Expiry Date"). In such instance, all Warrants that are not exercised prior to the Accelerated Expiry Date will expire on the Accelerated Expiry Date.