Cascadia Announces Strategic Exploration Alliance, Earn-In Agreement and Equity Investment with Agnico Eagle

Executive Summary

• Cascadia Minerals entered a multi‑year strategic alliance with Agnico Eagle to explore gold‑copper porphyry targets in Yukon’s Stikine Terrane.
• Agnostic Eagle will invest approximately C$8.9 million (19.90% partially‑diluted ownership) via a private placement of units and flow‑through units, providing immediate working capital for the Carmacks Project.
• The agreement includes an earn‑in on Cascadia’s Catch Property that could give Agnico Eagle up to an 80% interest after funding up to C$30 million in exploration over six years.

Key Details

• Strategic Alliance Funding: Minimum C$500,000 per year of generative exploration funded by Agnico Eagle; up to C$5 million planned for the 2026 field season.
• Properties Covered: Cascadia’s Macks, Milner, Byng, Mars, plus 2,834 newly staked claims (including Bunker Hill, Hilo, Hyde, Mustard) will be explored under the alliance.
• Catch Earn‑In Terms:
• Initial right to earn 51% interest by spending C$10 million over three years (minimum C$1 million by Dec 31 2027).
• Additional right to earn an extra 29% (total 80%) by spending another C$20 million over a subsequent three‑year period.
• Equity Investment (Private Placement):
• 19,315,300 units at C$0.26 per unit → gross proceeds C$5,021,978.
• Each unit = 1 common share + ½ warrant; warrants exercisable at C$0.32 for 24 months post‑closing.
• Critical Minerals Flow‑Through Offering:
• 10,000,000 flow‑through units at C$0.384 per unit → gross proceeds C$3,840,000.
• Units consist of 1 flow‑through common share + ½ warrant; proceeds earmarked for qualifying Canadian exploration expenses on the Carmacks Property (to be renounced by Dec 31 2026).
• Post‑Closing Ownership: Agnico Eagle will hold 29,315,300 common shares and 14,657,650 warrants, representing ~14.21% non‑diluted or 19.90% partially‑diluted of Cascadia’s outstanding equity.
• Closing Timeline: Offering expected to close on or about April 17 2026, subject to TSX Venture Exchange acceptance and a four‑month hold period plus one day for the securities.
• Investor Rights Agreement: Grants Agnico Eagle rights to (a) participate in future equity financings to maintain pro‑rata ownership up to 19.99% and (b) nominate board members (one, or two if the board expands to ≥8 directors) while holding ≥5% stake; also provides a right of first offer on any transfer of Cascadia’s Carmacks Project.
• Use of Proceeds:
• Private placement proceeds → general working capital & exploration at Carmacks Project.
• Flow‑through proceeds → Canadian critical‑minerals exploration expenses on Carmacks (qualified under the Income Tax Act).

Notable Quotes

“We are delighted to partner with Agnico Eagle to explore the Stikine Terrane in Yukon, which we believe offers the potential for significant new discoveries…Ag​nico Eagle’s equity investment will provide us with additional working capital and allow for work at Carmacks to be accelerated.” – Graham Downs, President & CEO, Cascadia Minerals Ltd.