Cassiar Gold hires Ausenco to conduct PEA at Cassiar

Executive Summary

• Cassiar Gold Corp. has engaged Ausenco to conduct a Preliminary Economic Assessment (PEA) for its Taurus deposit, targeting completion in Q3 2026.
• The company announced the approval of a new omnibus share compensation plan and the subsequent grant of 1.35 million RSUs and 2.295 million stock options to directors, officers, and employees.
• Cassiar Gold has elected to adopt semi-annual financial reporting (SAR) under Coordinated Blanket Order 51-933, moving from quarterly to semi-annual filings.

Key Details

• PEA Engagement: Ausenco engaged to deliver a comprehensive PEA for the Taurus deposit; completion targeted for Q3 2026.
• Resource Data: The PEA will be based on an indicated mineral resource of 8.8 million tonnes at 1.43 g/t Au (410,000 oz) and an inferred resource of 63.2 million tonnes at 0.95 g/t Au (1.93 million oz).
• Metallurgical Study: Assessment underway with Base Metallurgical Laboratories Ltd.; results expected in Q2 2026 to support the PEA.
• Cassiar South Mill Assessment: Review of on-site permitted mill for refurbishment and integration to support potential development at Cassiar South vein systems.
• Share Compensation Plan: Approved at the annual meeting on March 26, 2026; subject to final TSX Venture Exchange acceptance. Replaces previous 10% rolling stock option plan and share unit plan.
• Option Grant Details: On April 2, 2026, the company awarded:
  • 1.35 million Restricted Share Units (RSUs).
  • 2,295,000 Stock Options.
  • Vesting: Two-thirds vest in 12 months; one-third vests in 24 months.
  • RSU Settlement: One full paid and non-assessable common share per vested RSU, based on the closing price on April 1, 2026.
  • Option Exercise Price: 55 cents per share for a period of five years.
• Semi-Annual Reporting (SAR): Company elected to move to semi-annual financial reporting under Coordinated Blanket Order 51-933.
  • Exemptions: No interim reports for Q1 (ending Dec 31) or Q3 (ending June 30).
  • Filings Retained: Audited financial statements (due within 120 days of Sept 30) and six-month interim reports (due within 60 days of March 31).
  • Eligibility: Venture issuer with annual revenues < $10 million and clean 12-month continuous disclosure record.

Notable Quotes

• "We are pleased to welcome Ausenco as our lead consultant for the PEA," said Marco Roque, president and chief executive officer of Cassiar Gold. "Their global expertise and experience advancing gold project studies will be instrumental on our path to demonstrate the value of our near-surface resource at Taurus. The study will be a critical milestone and will guide our next steps toward responsible development."