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Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM,OTC:CAMNF) (OTCQB: CAMNF) is pleased to announce the results of six additional drill holes from its fully-funded 2026 exploration program at the road-accessible Carmacks copper-gold project in central Yukon. These results continue to expand mineralization at Carmacks beyond the boundaries of the existing Mineral Resource.
Carmacks Drilling Highlights
- Hole CD-26-050 at Zone 2000S returned:
- 52.84 m of 1.04% copper with 0.37 g/t gold (1.45% CuEq),
- including 11.68 m of 2.59% copper with 0.98 g/t gold (3.65% CuEq);
- Hole CD-26-047 at Zone 147 returned:
- 93.22 m of 0.79% copper with 0.23 g/t gold (1.03% CuEq),
- including 17.65 m of 2.36% copper with 0.79 g/t gold (3.09% CuEq);
- Hole CD-26-048 at Zone 2000S returned:
- 91.00 m of 0.69% copper with 0.24 g/t gold (0.95% CuEq),
- including 38.94 m of 0.84% copper with 0.33 g/t gold (1.15% CuEq);
- Drilling has continued to step-out north of Zone 200S, towards Zone 147, encountering sulphide mineralization over 250 m beyond the Mineral Resource at the 2000S Zone, with results pending for five additional step-out holes.
"The successful step-out drilling to the north of the 2000S Zone is extremely encouraging. These holes demonstrate the potential to meaningfully build on the existing Mineral Resource in close proximity to known mineralization," said Graham Downs, President and CEO of Cascadia. "Drilling continues to step further north, testing the potential to close the gap between the 2000S and 147 zones. Drilling encountered mineralization 250 m north of the previous boundary of the mineral resource at Zone 2000S, nearly doubling the previously defined strike length of the zone, and coming within 350 m of mineralization of the south end of Zone 147. One drill will continue to test this area, while the second drill will be moving to Zone 14, following up on 2007 drilling that identified promising sulphide mineralization in a parallel raft. Drilling later this season will focus on testing the down dip extent of mineralization of the 1213 Zone as well as testing Zone A in the northern portion of the property, where high-grade mineralization was intersected in 1980."
Figure 1 – 2026 Drill Plan Map
Figure 2 – Zone 147 Long Section
Figure 3 – Zone 2000S Long Section
Figure 4 – Cross Section A, CD-26-047
Figure 5 – Cross Section B, CD-26-048
Figure 6 – Cross Section C, CD-26-050
To learn more about these results, join Andrew Carne, Cascadia's VP Corporate Development for a webinar on Tuesday, August 11th at 12PM ET / 9AM PT. Register here: https://6ix.com/event/cascadia-extends-2000s-zone-through-step-out-drilling
2026 Carmacks Drilling Summary
A total of 20 holes comprising 10,651 m have been completed out of a planned 15,000 m of drilling. Work to-date has been focused at the 147 and 2000S zones, with prioritization of holes testing the extension of Zone 2000S north towards Zone 147. Drilling in this area has now encountered sulphide mineralization 250 m north of the existing Mineral Resource at the 2000S Zone, within 350 m of the southern extent of sulphide mineralization drilled in Zone 147. Drilling suggests that the previously interpreted Gap Zone is a separate smaller raft of mineralization that lies west of the main trend between Zone 2000S and Zone 147. Importantly, this opens up opportunity to test the extension of Zone 2000S along the 600 m gap between the sulphide resources at 2000S and 147.
Results from the first five drill holes of 2026 were released on July 7, 2026. This release comprises a further six drill holes. Assays from the remaining holes are pending and will be released once they are received and compiled. Drilling continues at the northern extension of Zone 2000S and is planned to commence this week at Zone 14.
Table 1: New Carmacks Drilling Results (August 10, 2026)
Drill Hole | From (m) | To (m) | Interval (m)* | Copper (%) | Gold (g/t) | Silver (g/t) | Molybdenum (ppm) | CuEq. (%)** |
Zone 2000S | ||||||||
CD-26-045 | 223.59 | 271.54 | 47.95 | 0.43 | 0.16 | 1.9 | 55 | 0.60 |
incl. | 223.59 | 237.74 | 14.15 | 0.87 | 0.36 | 4.2 | 125 | 1.24 |
CD-26-048 | 300.32 | 391.32 | 91.00 | 0.69 | 0.24 | 2.6 | 120 | 0.95 |
incl. | 308.53 | 347.47 | 38.94 | 0.84 | 0.33 | 3.3 | 95 | 1.15 |
CD-26-050 | 404.40 | 457.24 | 52.84 | 1.04 | 0.37 | 4.9 | 196 | 1.45 |
incl. | 404.40 | 416.08 | 11.68 | 2.59 | 0.98 | 13.9 | 387 | 3.65 |
Zone 147 | ||||||||
CD-26-047 | 362.72 | 455.94 | 93.22 | 0.79 | 0.23 | 2.4 | 94 | 1.03 |
incl. | 362.72 | 437.39 | 74.67 | 0.94 | 0.29 | 2.7 | 108 | 1.24 |
incl. | 419.74 | 437.39 | 17.65 | 2.36 | 0.79 | 5.1 | 149 | 3.09 |
CD-26-049 | 539.50 | 613.65 | 74.15 | 0.43 | 0.12 | 1.7 | 60 | 0.56 |
Sourtoe Target | ||||||||
CD-26-051 | No significant results | |||||||
* | The reported intervals are drilled thicknesses. True widths are estimated to be 60-70%. |
** | Copper equivalent calculations use metal prices of US$4.00/lb for copper, US$2,500/oz for gold, US$30/oz for silver and US$20/lb for molybdenum. Recovery factors of 82% for copper, 70% for gold, 69% for silver and 70% for molybdenum were used, based on recovery projections from the 2023 PEA study. |
Zone 2000S Drill Results
Drilling at Zone 2000S has focused on extending the zone beyond historical drilling both at depth and to the north, towards Zone 147. Historical work defined a strike length of 300 m at Zone 2000S but interpreted a truncation of mineralization at the northern extent of previous drilling, and the edge of the modelled 2022 Resource Estimate. Drilling in 2026 has demonstrated that this area remains open, with Zone 2000S continuing along strike approximately 250 m towards Zone 147.
Hole CD-26-045 was drilled up-dip of previously reported hole CD-26-046 and intersected 47.95 m of 0.43% copper with 0.16 g/t gold (0.60% copper equivalent), including 14.15 m of 0.87% copper with 0.36 g/t gold (1.24% copper equivalent). Further up-dip of this hole is a short historical hole which did not encounter mineralization and was thought to demonstrate the truncation of this zone to the north. Based on 2026 drilling it now seems that while the surface expression of the zone may be limited in this area, it is mineralized and continuous at depth, potentially increasing in tenor at depth.
Hole CD-26-048 was drilled below historical hole CRM21-022 and successfully extended mineralization deeper in this portion of Zone 2000S, returning 91.00 m of 0.69% copper with 0.24 g/t gold (0.95% copper equivalent), including 38.94 m of 0.84 % copper with 0.33 g/t gold (1.15% copper equivalent). Hole CD-26-054 was drilled underneath this hole to test a further extension at depth and encountered mineralization at the deepest point ever tested in this zone, for a total vertical extent of 467 m from surface. Results are pending for hole 054.
Hole CD-26-050 stepped out approximately 70 m north from hole 048 and returned a strongly mineralized interval of 52.84 m of 1.04% copper with 0.37 g/t gold (1.45% copper equivalent), including 11.68 m of 2.59% copper with 0.98 g/t gold (3.65% copper equivalent). This represents the furthest north that mineralization has been confirmed by assays in Zone 2000S and lies approximately 111 m north of the historical drilling which defined the end of the existing Mineral resource. Hole CD-26-056 was drilled up-dip and further north of hole 050 and encountered a mineralized raft, with results pending.
Holes CD-26-057 through 060 were drilled at Zone 2000s, continuing to test to the north, with 060 encountering mineralization over 250 m beyond the historical drilling comprising the Mineral Resource in Zone 2000S. Results for these holes are pending.
Zone 147 Drill Results
Hole CD-26-047 was drilled in the deep central portion of Zone 147, in an area where the only historical drilling was a single down-dip hole. This hole tested a better cut across the mineralized zone and returned 93.22 m of 0.79% copper with 0.23 g/t gold (1.03% copper equivalent) at a vertical extent of 370 m from surface. Hole CD-26-052 was drilled below this hole and encountered mineralization at the deepest point tested in Zone 147, with results pending.
Hole CD-26-049 was drilled further to the north in Zone 147, testing below previously reported hole CD-26-044. It returned a moderately mineralized interval of 74.15 m of 0.43% copper with 0.12 g/t gold (0.56% copper equivalent). Hole CD-26-055 was drilled further to the north and deeper than hole 049 and did not encounter mineralization, suggesting Zone 147 may be pinching out in this direction.
Other Drill Results
Holes CD-26-051 and 053 were drilled at the Sourtoe Target, located 1 km west of Zone 147, testing an IP geophysical anomaly coincident with surface mineralization. Hole 051 did not return significant results, and while results are pending for hole 053, it is not anticipated to return significant results. These holes encountered several rafts of migmatized rock with non-copper-bearing sulphides which explain the IP geophysical anomaly but did not explain surface copper mineralization present in trenches. Further work is warranted in this area; however additional drilling is not planned for this field season given the success of expansion work between Zone 2000S and 147, and other high-priority targets.
Table 2: 2026 Carmacks Diamond Drill Collar Locations
Zone | Drill Hole | Easting (m) | Northing (m) | Azimuth (°) | Dip (°) | Depth (m) | Status |
147 | CD-26-041 | 412097 | 6913674 | 229 | -68 | 289.56 | Released* |
CD-26-042 | 412170 | 6913981 | 243 | -64 | 521.21 | Released* | |
CD-26-044 | 412228 | 6913934 | 245 | -64 | 577.60 | Released* | |
CD-26-047 | 412165 | 6913839 | 246 | -63 | 525.78 | Released | |
CD-26-049 | 412339 | 6914013 | 237 | -58 | 673.61 | Released | |
CD-26-052 | 412308 | 6913877 | 242 | -60 | 630.94 | Pending | |
CD-26-055 | 412469 | 6914049 | 243 | -55 | 806.20 | Pending | |
2000S | CD-26-045 | 412339 | 6913044 | 248 | -55 | 301.65 | Released |
CD-26-046 | 412339 | 6913039 | 246 | -65 | 446.53 | Released* | |
CD-26-048 | 412366 | 6912985 | 245 | -65 | 411.20 | Released | |
CD-26-050 | 412438 | 6913114 | 243 | -57 | 534.92 | Released | |
CD-26-054 | 412476 | 6913048 | 245 | -58 | 563.88 | Pending | |
CD-26-056 | 412360 | 6913122 | 244 | -58 | 413.00 | Pending | |
CD-26-057 | 412495 | 6913176 | 240 | -56 | 609.60 | Pending | |
CD-26-058 | 412402 | 6913234 | 238 | -56 | 545.90 | Pending | |
CD-26-059 | 412397 | 6913277 | 249 | -55 | 589.79 | Pending | |
CD-26-060 | 412391 | 6913428 | 236 | -55 | 679.70 | Pending | |
Gap | CD-26-043 | 412155 | 6913167 | 250 | -60 | 498.35 | Released* |
Sourtoe | CD-26-051 | 411181 | 6913362 | 248 | -55 | 467.87 | Released |
CD-26-053 | 411310 | 6913243 | 245 | -55 | 563.88 | Pending |
* | Previously released hole. |
Carmacks Property Overview
Cascadia's 180 km2 Carmacks Project is located within the Traditional Territory of the Little Salmon Carmacks and Selkirk First Nations and is 35 km southeast of the past producing Minto Mine, which was recently acquired by Selkirk Copper Mines Inc. The Carmacks Project is road-accessible, via a 13 km access road which extends from the government-maintained Freegold Road northwest of the town of Carmacks in central Yukon. The project has an existing 40-person camp, numerous roads throughout the property, and is 10 km from grid power.
The project covers a large portion of the Minto Copper Belt, a 180 km x 60 km belt of intrusion-related copper-gold-silver deposits. This belt is situated within the Stikine Terrane, which extends into Yukon from British Columbia, and is characterized by Late Triassic to early Jurassic volcanic-plutonic arc complexes that are well-endowed with copper-gold-molybdenum porphyries including the Red Chris, Schaft Creek, Kemess, KSM and Galore Creek deposits and mines.
In addition to numerous early-stage targets, the project hosts the resource-stage Carmacks Deposit, comprising a series of 5-100 m wide 'rafts' of variably migmatized xenolithic meta-sedimentary and meta-volcanic rocks hosted within the coarse crystalline granitoids of the Granitoid Mountain Batholith suite. The 'rafts' generally trend NNW-SSE over 3 km of strike length and form three distinct zones of mineralization. Sulphide mineralization is confined to the metamorphic 'rafts' and is found as chalcopyrite-bornite foliation parallel stringers as well as net-textured clots, interpreted as evidence for later sulphide melts. The contacts with the intrusive phases of the granite mountain batholith are sharp and unaltered. The geology and deposit model are thought to be similar to the nearby Minto Deposit, with past work suggesting that the system is the result of an alkalic porphyry deposit that was metamorphosed up to the point of partial melting at depths of up to 25km, followed by rapid uplift to near surface.
The Carmacks Deposit has 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, 3.23 g/t silver and 0.01% molybdenum) or 1.07% copper equivalent, and an Inferred Resource containing 38 Mlbs of copper and 13 koz of gold (2.9 Mt grading 0.60% copper, 0.16 g/t gold, 2.34 g/t silver and 0.02% molybdenum). A 2023 preliminary economic assessment demonstrated positive economic potential, with a $230.4 M post-tax NPV(5%) and 29% post-tax IRR at US$3.75/lb copper and US$1,800/oz gold. A second case evaluated at $4.25/lb copper and $2,000/oz gold returned a $330.1 M post-tax NPV(5%) and 38% after-tax IRR.
The deposit is comprised of three zones, 147, 2000S and 1213, all of which come to surface and remain open to expansion in multiple directions. Historical drilling at the deposit focused primarily on oxide copper mineralization, and numerous holes were ended when sulphide mineralization was encountered. Zone 1213 in particular hosts very shallow sulphide mineralization that has seen limited drilling.
Investor Awareness Services
Cascadia announces that it has engaged Global One Media Group Pte. Ltd ("Global One Media"), a global investor marketing and media firm, to support its digital investor communications strategy. Under the engagement, Global One Media will assist the Company with the production of digital investor content, including video interviews and related corporate communications, and the distribution of such content through digital channels and media platforms, with the objective of increasing the Company's visibility among investors across key global markets. Global One Media does not have any interest, directly or indirectly, in the Company or its securities, nor any right or intent to acquire such an interest. Global One Media may provide additional services to the Company in the future.
About Global One Media Group
Global One Media (www.globalonemedia.com) is an investor marketing and digital communications firm that helps publicly traded companies increase market visibility, strengthen investor engagement, and build sustained awareness across global capital markets. Through strategic positioning, premium content creation, and targeted digital distribution across its investor media network, Global One Media connects issuers with key investor audiences across North America, Europe, and Asia.
About Cascadia
Cascadia's flagship asset is the Carmacks Project in the high-grade Minto Copper Belt in Yukon Territory, Canada. Cascadia is also exploring the Stikine Terrane in Yukon for new gold-copper discoveries through its Strategic Alliance with Agnico Eagle Mines Ltd. The Stikine Terrane extends into Yukon from British Columbia's Golden Triangle and is a highly prospective target area for gold-copper porphyry mineralization. While the expression of the Stikine Terrane in British Columbia has been explored in detail – resulting in numerous discoveries – its expression in Yukon is comparatively underexplored and not well understood.
QA/QC
Analytical work was completed by ALS Canada Ltd., with sample preparation in Whitehorse, Yukon and geochemical analyses in North Vancouver, BC. Core samples were fine crushed before a 250-gram split was pulverized to better than 85% passing 75 microns. Gold was determined for core samples by the Au-AA23 procedure, which involves fire assay preparation using a 30-gram charge with an atomic absorption spectroscopy finish. Multi-element data for 48 elements was determined by the ME-MS61 procedure, which involves a four-acid digestion followed by inductively coupled plasma-atomic emission spectroscopy ("ICP-AES") and inductively coupled plasma-mass spectrometry. Overlimit values for copper were determined by the Cu-OG62 procedure, which involves a four-acid digestion followed by ICP-AES.
Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream of diamond drill samples to ensure integrity of the assay process. All diamond drill samples included in this news release have passed the QA/QC procedures as described above. Core was sampled using a diamond saw, with half of each interval sent to the lab for analysis, and the other half retained. Estimated true widths vary but are expected to be typically 60-70% of the intersected widths.
The Mineral Resources and economic analysis disclosed here are referenced from the 2023 Carmacks Project Preliminary Economic Assessment ("Carmacks PEA"). Pricing for the Carmacks 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 C$1 = US$0.75. The results of the Carmacks PEA 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. For more information on the Carmacks PEA please see the Technical Report entitled Carmacks Project Preliminary Economic Assessment (PEA), Yukon, Canada dated March 6, 2023, authored by SGS Canada Inc. for Granite Creek Copper Ltd. A copy of this Technical Report is available on www.cascadiaminerals.com and on SEDAR+ under the Granite Creek Copper Ltd. profile.
Results referenced in this release represent highlights only. Below detection values for gold, copper, silver and molybdenum have been encountered in drilling, soil and rock samples in these target areas. Readers are cautioned that grab samples are selective by nature and are not necessarily representative of the grade of mineralization on the property. Copper equivalent calculations use metal prices of US$4.00/lb for copper, US$2,500/oz for gold, US$30/oz for silver and US$20/lb for molybdenum. Recovery factors of 82% for copper, 70% for gold, 69% for silver and 70% for molybdenum were used, based on recovery projections from the Carmacks PEA.
The technical information in this news release has been approved by Thomas Hawkins, P.Geo., VP Exploration for Cascadia and a qualified person for the purposes of National Instrument 43-101.
On behalf of Cascadia Minerals Ltd.
Graham Downs, President and CEO
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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