Cascadia completes drilling program at Carmacks

Executive Summary

• Cascadia Minerals Ltd. completed its fall 2025 diamond drill program at the Carmacks Copper-Gold Project in Yukon, successfully intersecting copper mineralization in 10 of 11 holes.
• The 2025 program consisted of 3,847.95 metres drilled in 11 holes, targeting the expansion of sulphide resources at the Carmacks deposit.
• Planning is underway for a significantly expanded 2026 exploration program, with a minimum of 15,000 metres of drilling planned to test further stepouts, regional targets, and untested geophysical anomalies.

Key Details

• 2025 Drilling Summary:
  • Total metres drilled: 3,847.95 m.
  • Total holes: 11.
  • Success rate: Copper mineralization encountered in 10 of 11 holes.
  • Focus: Stepout holes at the Carmacks Main deposit to expand sulphide resources.
  • Status: Drilling completed Oct 10; crews logging/sampling; initial assays anticipated in early November (subject to lab backlogs).
• Current Resource Estimate (Carmacks Main Deposit):
  • Measured and Indicated Resource: 36.3 million tonnes at 0.81% copper, 0.26 g/t gold, and 3.23 g/t silver.
  • Metal Content: 651 million pounds of copper and 302,000 ounces of gold.
  • Copper Equivalent: 1.07% CuEq.
• 2026 Exploration Plans:
  • Minimum 15,000 metres of diamond drilling.
  • Targets include further downdip and on-strike extensions of the three major zones (147, 2000S, and 1213).
  • Evaluation of near-deposit zones outside current resource, including Zone 14 and the Gap zone.
  • Evaluation of multiple untested geophysical targets within 1 km of the Carmacks Main deposit.
  • Broader regional program to evaluate historical targets across the 177 sq km property.
• Specific Historical/Regional Targets for 2026:
  • Zone A: Follow-up drilling on historical results including 22.86 m of 2.27% Cu with 2.20 g/t Au (hole 80-18) and 13.72 m of 3.18% Cu with 2.01 g/t Au (hole 80-09).
  • Zone 14: Historical intercept of 16.37 m of 1.04% Cu with 0.09 g/t Au (hole WC-140).
  • Gap Zone: Historical intercepts including 3.70 m of 0.94% Cu with 0.12 g/t Au and 21.25 m of 0.53% Cu.
• Geological Context:
  • Mineralization occurs within migmatized amphibolite and bedded mafic volcanic rocks, characterized by disseminated and foliation-parallel bands of chalcopyrite and bornite.
  • Hosted within coarse-grained diorite and granodiorite of the Granite Mountain batholith.
  • Comprehensive structural data collected from oriented core for the first time to enhance geological modeling.
• Project Infrastructure & Location:
  • Located 35 km southeast of the past-producing Minto mine (acquired by Selkirk Copper Mines Inc.).
  • Road-accessible via a 13 km access road from Freegold Road.
  • Existing 40-person camp, numerous internal roads, and proximity to grid power (10 km).
  • Part of the Minto copper belt (180 km by 60 km) within the Stikine terrane.
• Economic Potential (2023 PEA):
  • Base Case ($3.75/lb Cu, $1,800/oz Au): $230.4 million post-tax NPV (5%), 29% post-tax IRR.
  • Alternative Case ($4.25/lb Cu, $2,000/oz Au): $330.1 million post-tax NPV (5%), 38% post-tax IRR.
• Other Assets:
  • Cascadia also holds the Catch property, a discovery-stage copper-gold porphyry with inaugural results of 116.60 m of 0.31% Cu with 0.30 g/t Au.

Notable Quotes

• "We're very pleased by the results of our 2025 drill program, with 10 of 11 holes intersecting sulphide mineralization on resource expansion targets. Our team has done a fantastic job, completing our first drill program only two months after the close of our acquisition of the Carmacks project," said Graham Downs, Cascadia's president and chief executive officer.
• "This season's work confirms the potential for continued resource growth at Carmacks, where the resource remains open along strike and at depth. In addition to follow-up drilling at the main deposit in 2026, we see excellent opportunities to build resources at other known zones and make new discoveries throughout the extensive property package."