Cassiar Gold Announces Insider-Led Private Placement for up to $3 Million

Cassiar Gold Corp. announced a non-brokered private placement for up to $3,000,000 in gross proceeds. The offering consists of Hard Dollar Units priced at $0.35 per unit and Flow-Through Units priced at $0.50 per unit. Each unit includes one common share and one-half of one common share purchase warrant exercisable at $0.50 for 24 months.

The company received final TSX Venture Exchange acceptance to issue 500,000 units to the Dease River First Nation (DRFN) under an existing Exploration Agreement, valued at a deemed price of $0.52 per unit. Insider participation is confirmed, constituting a related party transaction.

Regarding exploration activities, the 2026 program is nearing completion with approximately 10,000 meters across 37 drill holes, primarily at the Taurus deposit and Newcoast regional target. The Preliminary Economic Assessment (PEA) target has been pushed to Q1 2027 to incorporate recent drill results and 3D modeling.

Cassiar Gold Corp. (GLDC) announced a capital raise to fund its ongoing 10,000-meter drill program and cover general and administrative expenses. The company has delayed its Preliminary Economic Assessment (PEA) from a previously targeted Q3/H2 2026 to Q1 2027. This delay is likely driven by the need to incorporate final 2026 drill results and complete 3D modeling, extending the cash burn period without a near-term de-risking milestone.

The financing price of $0.35/$0.50 sits at a discount to the recent trading range of $0.40-$0.45 in October, indicating some capital market pressure, though insider participation signals management confidence in the asset's long-term value. Additionally, the DRFN agreement represents a standard but necessary step for social license and permitting in British Columbia. While it does not materially change the project economics, it mitigates community-related regulatory risk.

Cassiar Gold Corp. is an exploration-stage gold company focused on the 590 km² Cassiar Gold Property in northern British Columbia. The project is divided into Cassiar North, which includes the Taurus Deposit, Newcoast, and Hopeful, and Cassiar South, which covers the Table Mountain area and past-producing vein systems.

The Taurus Deposit holds an NI 43-101 resource of 8.8 Mt Indicated at 1.43 g/t Au (410 koz) and 63.2 Mt Inferred at 0.95 g/t Au (1.93 moz). Ninety-one percent of the ounces are located within 150 m of surface. Cassiar South has a historical production record of more than 315,000 oz Au at average head grades of 10-20 g/t Au.

The company holds active mine permits, including the Taurus Gold Mine Permit M-149 and the Table Mountain Permit M-127, and owns a fully permitted mill, the Erickson Mill. Cassiar Gold is currently in the exploration and early development stage, with a Preliminary Economic Assessment underway to evaluate near-term development potential.