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Cascadia Minerals Ltd. (" Cascadia ") (TSXV: CAM,OTC:CAMNF) (OTCQB: CAMNF) and Granite Creek Copper Ltd. (" Granite Creek ") (TSXV: GCX) (OTCQB: GCXXF) are pleased to announce the acquisition by Cascadia of all of the issued and outstanding common shares of Granite Creek (the " Granite Creek Shares ") pursuant to a court-approved plan of arrangement under the Business Corporations Act ( British Columbia ) (the " Arrangement "). The Arrangement, which became effective as of today's date, merges Granite Creek into Cascadia to create a leading Yukon copper-gold exploration and development company.
Graham Downs , President and CEO of Cascadia, commented: "We are very excited to complete this merger, and we welcome Granite Creek Shareholders to Cascadia. The combined property portfolio provides our shareholders with exposure to an advanced-stage copper-gold deposit at the Carmacks Property and a compelling collection of discovery-stage copper-gold and epithermal gold projects throughout Yukon's underexplored Stikine Terrane. Planning is well underway for a fully-funded fall drill program at Carmacks that will focus on step-out drilling near high-grade portions of the deposit. In the meantime, crews are conducting prospecting work at our Macks, Milner, Idaho Creek and Rosy properties while we await results from our spring drilling at Catch".
Upon completion of the Arrangement, each Granite Creek shareholder received 0.25 (the " Exchange Ratio ") of a Cascadia common share (each whole share, a " Cascadia Share ") in exchange for each previously held Granite Creek Share, with Cascadia issuing a total of 53,070,848 million Cascadia Shares to former Granite Creek shareholders. Pursuant to the transaction, previously outstanding stock options of Granite Creek have been exchanged for 3,747,500 stock options of Cascadia, and warrants to acquire Granite Creek Shares have been adjusted to permit their holders to acquire a total of 11,036,291 Cascadia Shares, in each case by applying the Exchange Ratio to the number and exercise prices of such options and warrants.
Board of Directors of the Combined Company
Timothy Johnston , Granite Creek's former President and CEO has joined Cascadia's board of directors. James Sabala and Kurt Allen have resigned from Cascadia's board of directors. Cascadia would like to thank Mr. Sabala and Mr. Allen for their valuable contributions, and wish them well in their future endeavours.
Subscription Receipt Financing
Further to the private placement announced in Cascadia's June 9, 2025 , news release and closed on July 3, 2025 , a total of 14,459,894 subscription receipts have been converted into Cascadia Shares and warrants (" Warrants "), and gross proceeds of C$2,024,385 have been released to Cascadia. The Cascadia Shares and Warrants issued in relation to the subscription receipts are not subject to a resale hold period in Canada. Each Warrant will entitle the holder thereof to purchase an additional Cascadia Share at a price of $0.24 per share until August 13, 2027 .
Cascadia has agreed to pay cash finders' fees totaling $82,223 and issued a total of 587,308 finder warrants (" Finder Warrants ") to finders comprising Castlewood Capital Corp., Consultant Financier Integritas Inc., Ventum Financial Corp., and BT Global Growth Inc. in connection with the subscription receipt financing. The finders are each at arm's length to Cascadia. Each Finder Warrant shall be exercisable on the same terms as the Warrants. The payment of these finder's fees is subject to receipt of TSXV approval.
Additional Information about the Arrangement
Further information regarding the Arrangement is set out in the news releases of Cascadia and Granite Creek dated June 9, 2025 and which has been publicly filed by Cascadia and Granite Creek under their respective profiles on SEDAR+ at www.sedarplus.ca and the management information circular of Granite Creek dated July 4, 2025 (the " Circular ") which has been publicly filed under Granite Creek's profile on SEDAR+ at www.sedarplus.ca .
About Cascadia
Cascadia's flagship asset is the Carmacks Project in the high-grade Minto copper district in Yukon Territory, Canada . The project is located south of and within 35km of the past-producing Minto mine, which was recently acquired by Selkirk Copper Mines. The Carmacks Project hosts a Measured and Indicated Resource containing 651 Mlbs of copper and 302 koz of gold (36.3 million tonnes grading 0.81 % copper, 0.26 g/t gold, and 3.23 g/t silver and 0.01% molybdenum) with a 2023 PEA demonstrating positive economic potential ( $230.5 M Post-Tax NPV (5%) and 29% Post-Tax IRR).
Cascadia also has a pipeline of discovery stage copper-gold properties throughout the Yukon Stikine Terrane including its Catch Property, which hosts a copper-gold porphyry discovery where inaugural drill results returned broad intervals of mineralization ( 116.60 m of 0.31% copper with 0.30 g/t gold). Catch exhibits extensive high-grade copper and gold mineralization across a 5 km long trend, with rock samples returning peak values of 3.88% copper, 1,065 g/t gold, and 267 g/t silver.
QA/QC
The technical information in this news release has been approved by Andrew Carne , P.Eng., VP Corporate Development for Cascadia and a qualified person for the purposes of National Instrument 43-101.
Prospecting grab samples referenced in this release represent highlight results only, and include results from 2024 and previous seasons. Below detection values for copper, gold and silver have been encountered in grab samples in these target areas. For more details on Catch drilling and prospecting results, please see Cascadia's News Releases dated July 25, 2024 , and July 19 , 2023. The Mineral Resources and economic analysis disclosed here are referenced from the 2023 Technical Report on the Carmacks Project Preliminary Economic Assessment, authored by SGS Canada Inc. for Granite Creek Copper. Pricing for the Carmacks Project PEA base case economic analysis was US $3.75 /lb copper, US $1,800 /oz gold, and US $22 /oz silver at an exchange rate of $1 : US$0.75 . The results of the Carmacks preliminary economic assessment are preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.
NEITHER THE 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 NEWS RELEASE.
Cautionary note regarding forward-looking statements:
This press release may contain "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. Cascadia and Granite Creek undertake no obligation to update forward-looking information, except as required by securities laws.
SOURCE Cascadia Minerals Ltd.
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