Cascadia Provides Update on the Purchase of the Byng and Mars Properties

Executive Summary

• Cascadia Minerals provided a detailed update on its acquisition of the Byng and Mars properties from Strategic Metals, confirming the total consideration of $250,000 (half cash, half Cascadia shares).
• The share component price has been fixed at $0.25 per share, resulting in issuance of 500,000 Cascadia common shares.
• The transaction remains subject to TSX Venture Exchange acceptance and is classified as a non‑arms‑length but not a related‑party transaction under TSXV policies.

Key Details

• Properties Acquired: Byng Property (90 claims) and Mars Property (93 claims).
• Total Consideration: $250,000
• Cash: $125,000
• Cascadia common shares: 500,000 shares @ $0.25/share (valued at $125,000).
• Royalty Arrangements:
• Existing royalty to Strategic retained as disclosed in the February 24, 2026 release.
• Additional pre‑existing 1% NSR royalty on DDH 1‑16 claims of Mars Property granted to Allan Doherty.
• Share Pricing Methodology: Originally tied to a 15‑day VWAP prior to closing; amended to use the VWAP as of the date of this release ($0.25/share).
• No Finder’s Fees are payable in connection with the transaction.
• Transaction Classification:
• Non‑Arms Length Transaction (common director Bruce Youngman, who was not involved in negotiation/approval).
• Reviewable Transaction under TSX Venture Exchange policies.
• Not a Related Party Transaction per TSXV Policy 5.9 / Multilateral Instrument 61‑101.
• Regulatory Condition: Purchase remains subject to acceptance by the TSX Venture Exchange.

Notable Quotes

“The amendment to the share pricing mechanism provides clarity and certainty for both parties as we move toward closing,” – Graham Downs, President and CEO, Cascadia Minerals Ltd.