Cascadia grants right to Agnico for up to 80% of Catch

Executive Summary

• Cascadia Minerals Ltd. entered into a multiyear strategic alliance and earn-in agreement with Agnico Eagle Mines Ltd. to advance gold-copper exploration in Yukon's Stikine terrane.
• Agnico Eagle will invest $5.02 million in a non-brokered private placement for approximately 19.90% ownership and commit to $500,000 annually for generative exploration over an initial three-year period.
• The transaction includes a $30 million earn-in option allowing Agnico Eagle to acquire up to 80% of the Catch property, alongside a $3.84 million critical mineral flow-through offering to fund exploration at the Carmacks project.

Key Details

• Strategic Alliance Structure: Multiyear agreement for gold-copper exploration in Yukon's Stikine terrane. Agnico Eagle to finance a minimum of $500,000 per year for generative exploration work performed by Cascadia as operator.
• Alliance Properties: Covers Cascadia's Macks, Milner, Byng, and Mars properties, plus 2,834 recently staked claims (expansions plus four new properties: Bunker Hill, Hilo, Hyde, and Mustard).
• Catch Earn-In Agreement: Agnico Eagle may earn up to 80% interest by financing $30 million over six years. First tranche: $10 million over three years (min. $1 million by Dec 31, 2027) for 51% interest. Second tranche: $20 million over subsequent three years for additional 29% (total 80%). Cascadia remains initial operator. Subject to TSXV acceptance.
• Equity Investment (Private Placement): Agnico Eagle acquires 19,315,300 units at $0.26 per unit for gross proceeds of $5,021,978. Each unit consists of one common share and 0.5 warrant. Warrants exercisable at $0.32 per share for 24 months post-closing.
• Flow-Through Offering: Cascadia to issue 10 million critical mineral flow-through (CFT) units at $0.384 per unit for gross proceeds of $3.84 million. Agnico Eagle agreed to acquire the underlying securities. Proceeds designated for Canadian exploration expenses at Carmacks, renounced by Dec 31, 2026, and incurred by Dec 31, 2027.
• Post-Closing Ownership & Rights: Agnico Eagle will hold ~14.21% non-diluted / ~19.90% partially diluted. Investor rights agreement grants pro-rata participation in future financings, right to nominate 1-2 directors (if board expands to 8+), and right of first offer on any transfer of the Carmacks project.
• Closing & Conditions: Expected on or about April 17, 2026. Subject to TSXV acceptance. All securities subject to a 4-month-plus-1-day hold period. No finders' fees paid.
• Carmacks Project Update: 180 sq km road-accessible property. Current resource: 651M lbs Cu, 302k oz Au (1.07% CuEq). 2023 PEA shows $330.1M post-tax NPV (5%) and 38% ATRR. 15,000m diamond drill program planned for spring 2026 to expand resource.

Notable Quotes

• Graham Downs, CEO: "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. The strategic alliance will allow us to capitalize on our first-mover status in Yukon's Stikine terrane while advancing our flagship Carmacks property. With a recently completed staking program, Cascadia now controls over 800 square kilometres of highly prospective ground, which will be explored through the strategic alliance. Agnico Eagle's equity investment will provide us with additional working capital and allow for work at Carmacks to be accelerated while the strategic alliance and Catch earn-in will allow our Stikine terrane projects to be advanced with minimal dilution to Cascadia shareholders."