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Cascadia Minerals Ltd. (" Cascadia ") (TSXV: CAM,OTC:CAMNF) (OTCQB: CAMNF) announces that it is undertaking certain shares for debt settlements in connection with its acquisition of Granite Creek Copper Ltd. (" Granite Creek ") which closed on August 13, 2025 (the " Acquisition ").
Upon completion of the Acquisition, Timothy Johnson , the former Chief Executive Officer and President of Granite Creek, became entitled to a change of control payment in the amount of $360,000 , of which $180,000 has been paid in cash. The balance of the change of control payment is payable at Cascadia's election in either cash or Cascadia common shares (" Cascadia Shares ") priced at a five-day volume-weighted average price after the closing of the Acquisition. Cascadia has elected to pay the entirety of the remaining amount owed to Mr. Johnson in connection with his change of control payment in shares, and subject to receipt of TSXV approval, will issue 1,169,666 shares to him.
In connection with its acquisition of Granite Creek, Cascadia additionally agreed to settle a debt owed to a past Chief Executive Officer of Granite Creek, for total consideration of $365,000 . Of this amount, $55,000 is to be paid in cash, leaving a balance of $310,000 payable at Cascadia's election in cash or Cascadia Shares priced at a five-day volume-weighted average price after the closing of the Acquisition. Cascadia has determined to settle $235,946 by the issuance of 1,533,217 Cascadia Shares, subject to TSXV approval, with the balance paid in cash.
The payments to Mr. Johnson are a "related party transaction" for the purposes of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101 ") as Mr. Johnson became a director of Cascadia upon the closing of the Acquisition. Cascadia is relying on an exemption from the minority approval and formal valuation requirements of MI 61-101 on the basis that the value of the transaction does not represent greater than 25% of the market capitalization of Cascadia.
All Cascadia Shares issued pursuant to the foregoing debt settlements will be subject to a four month hold period from their date of issuance under applicable securities laws, and a further news release will be issued on their issuance specifying the date on which this hold period will conclude.
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. 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 undertakes no obligation to update forward-looking information, except as required by securities laws.
SOURCE Cascadia Minerals Ltd.
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