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

Executive Summary

• Cascadia Minerals Ltd. has entered into a multi-year strategic alliance and earn-in agreement with Agnico Eagle Mines Ltd. to explore gold-copper properties in Yukon's Stikine terrane, with Agnico Eagle financing up to $30 million in exploration work to earn up to an 80% interest in the Catch property.
• Agnico Eagle is acquiring a ~19.90% ownership stake in Cascadia through a $5.02 million private placement, while Cascadia concurrently raises $3.84 million via a critical mineral flow-through offering, bringing total gross proceeds to $8.86 million.
• Proceeds will fund general working capital and accelerate exploration at Cascadia's flagship Carmacks property, including a planned 15,000-metre diamond drill program in spring 2026, while the alliance covers generative exploration across nine properties and 2,834 newly staked claims.

Key Details

• Strategic Alliance Terms: Agnico Eagle will finance a minimum of $500,000 annually for generative exploration in Yukon's Stikine terrane, covering Cascadia's Macks, Milner, Byng, and Mars properties, plus four new properties (Bunker Hill, Hilo, Hyde, Mustard) and 2,834 newly staked claims. Up to $5 million is planned for the 2026 field season.
• Catch Earn-In Agreement: Agnico Eagle may earn up to an 80% interest in the Catch property by financing $30 million over six years. This includes $10 million over three years (minimum $1 million by Dec 31, 2027) for a 51% interest, followed by $20 million over an additional three years for a further 29% interest. Cascadia will act as initial operator; subject to TSXV acceptance.
• Private Placement Financing: Agnico Eagle acquires 19,315,300 units at $0.26 per unit for $5,021,978 in gross proceeds. Each unit consists of one common share and 0.5 common share purchase warrant. Warrants are exercisable at $0.32 per share for 24 months post-closing.
• Flow-Through Offering: Cascadia will issue 10 million critical mineral flow-through (CFT) units at $0.384 per unit for $3.84 million in gross proceeds. Each CFT unit includes one flow-through common share and 0.5 warrant. Agnico Eagle has agreed to acquire the underlying securities. Proceeds are designated for Canadian exploration expenses at Carmacks, renounced by Dec 31, 2026, and incurred by Dec 31, 2027.
• Post-Closing Ownership & Investor Rights: Agnico Eagle will hold ~14.21% non-diluted / ~19.90% partially diluted ownership. An investor rights agreement grants Agnico: (a) pro-rata participation rights to maintain ownership or acquire up to 19.99%; (b) right to nominate 1-2 directors if holding ≥5%; and (c) right of first offer over any transfer of the Carmacks project.
• Closing & Conditions: Expected to close on or about April 17, 2026, subject to TSXV acceptance. Securities are subject to a 4-month-plus-one-day hold period. No finders' fees will be paid.
• Carmacks Property & Resource Data: 180 sq km project, 35 km SE of Minto mine. Measured & Indicated Resource: 36.3 million tonnes grading 0.81% Cu, 0.26 g/t Au, 3.23 g/t Ag, 0.01% Mo (651M lbs Cu, 302k oz Au). 2023 PEA shows $330.1M post-tax NPV (5%) and 38% IRR. 15,000m drill program planned for spring 2026 to expand resource.

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. 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." — Graham Downs, CEO, Cascadia Minerals Ltd.