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Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM,OTC:CAMNF) (OTCQB: CAMNF) provides the following update and clarifications regarding its agreement to purchase the Byng and Mars properties from Strategic Metals Ltd. ("Strategic") (the "Transaction"). The Transaction is described in Cascadia's news release of February 24, 2026.
- The Property Purchase Agreement between Cascadia and Strategic (the "Purchase Agreement") is dated for reference February 20, 2026, and was signed by the parties on February 23, 2026. The Transaction was announced by Cascadia on February 24, 2026.
- The Transaction involves the acquisition by Cascadia of the Byng Property and the Mars property. The Byng Property comprises 90 claims, and the Mars Property comprises 93 claims.
- In addition to the royalty being granted to Strategic as part of the purchase described in Cascadia's February 24, 2026 news release, the Mars Property is subject to a pre-existing royalty on the DDH 1-16 claims, granting Allan Doherty a 1% NSR on all production from these claims.
- The Purchase Agreement provides that the consideration payable to Strategic for the properties being acquired by Cascadia pursuant to the Transaction is $250,000, payable as to $125,000 in cash and $125,000 in common shares of Cascadia. The Purchase Agreement formerly provided that the issue price of these consideration shares would be determined using a 15 day VWAP prior to the closing of the Transaction. The parties have amended the Purchase Agreement to price the share component of the purchase price at $0.25 per share, representing a 15-day VWAP immediately preceding today's date. As such, the total consideration for the purchase will be:
- $125,000 in cash; and
- 500,000 Cascadia shares valued at $0.25/share.
- There are no finder's fees payable in respect of the Transaction.
- The Transaction is a Non-Arms Length Transaction and is a Reviewable Transaction under TSX Venture Exchange ("TSXV") policies as Strategic and Cascadia share a common director, Bruce Youngman. Mr. Youngman was not involved in the negotiation or approval of the Transaction.
- The Transaction is not a Related Party Transaction subject to TSXV Policy 5.9 or Multilateral Instrument 61-101.
The purchase remains subject to acceptance by the TSX Venture Exchange.
About Cascadia
Cascadia's flagship asset is the 180 km2 Carmacks Project, located within in central Yukon, Canada, 35 km southeast of the past producing Minto Mine. The road-accessible Carmacks Project 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. A 2023 preliminary economic assessment demonstrated positive economic potential, with a $330.1 M post-tax NPV(5%) and 38% after-tax IRR at $4.25/lb copper and $2,000/oz gold.
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). High-grade copper and gold mineralization is found at surface over 5 km long trend, with grab samples returning peak values of 3.88% copper, 1,065 g/t gold, and 267 g/t silver.
QA/QC
Results referenced in this release represent highlight results only and include results from historical work conducted by other operators. Below detection values for gold, silver and molybdenum have been encountered in 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. Historical data has not been independently validated by Cascadia.
Copper equivalent calculations for the Carmacks Deposit 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.
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.
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. The Company undertakes no obligation to update forward-looking information, except as required by securities laws.
SOURCE Cascadia Minerals Ltd.
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