Cascadia Expands Sulphide Mineralization with 106.62 m of 1.09% CuEq (0.79% Copper, 0.28 g/t Gold) at the Carmacks Copper-Gold Project, Yukon

Cascadia Minerals Ltd. (CAM) has released assay results from the first six holes of its 2026 Carmacks drill program. The company has completed 16 holes totaling 8,226 meters of the planned 15,000-meter program, with additional holes testing extensions 111 meters north of previous drilling and results pending.

Highlights from the initial six holes include:

• Hole CD-26-046 (Zone 2000S): 106.62 m at 0.79% Cu, 0.28 g/t Au, 3.1 g/t Ag, 124 ppm Mo (1.09% CuEq), including 23.15 m at 1.42% Cu, 0.51 g/t Au (1.94% CuEq) and 17.91 m at 1.72% Cu, 0.63 g/t Au (2.37% CuEq). Mineralization extended 60 m north of prior drilling and remains open along strike and at depth.
• Hole CD-26-041 (Zone 147): 98.16 m at 0.92% Cu, 0.11 g/t Au (1.06% CuEq), including 21.24 m at 2.38% Cu, 0.30 g/t Au (2.82% CuEq). The first 50 m of this intercept is oxide, the remainder transitional/sulphide.
• Hole CD-26-044 (Zone 147): 64.76 m at 0.41% Cu, 0.10 g/t Au (0.55% CuEq).
• Hole CD-26-042 (Zone 147): 17.72 m at 0.30% Cu, 0.09 g/t Au (0.41% CuEq) – possible pinch-out.
• Hole CD-26-043 (Gap Zone): two narrow intervals: 10.63 m at 0.48% Cu (0.58% CuEq) and 8.59 m at 0.20% Cu.
• Hole CD-26-045 (Zone 2000S): encountered mineralized raft; assays pending.

Cascadia Minerals Ltd. (CAM) has released the first batch of assay results from the largest drill program at its Carmacks project since 2007. The step-out results confirm that mineralization extends beyond the existing resource model, supporting management’s goal of growing the resource. The company’s market capitalization of approximately C$55M sits below the pre-feasibility study’s base-case net present value of C$230M, suggesting the deposit is recognized but not fully priced, with further resource expansion potentially closing that gap.

Prior to the release, the stock drifted from C$0.36 to C$0.31, indicating low expectations or a lack of catalysts. These results represent an incremental positive surprise, outperforming many of the 2025 step-outs, such as the 87.44 m at 0.63% Cu intercept. While the news is materially positive for the Carmacks expansion story, it does not constitute a company-maker or discovery-class intercept.

Cascadia Minerals Ltd. (CAM) is a Yukon-focused copper-gold explorer with a flagship Carmacks deposit containing 36.3 million tonnes of measured and indicated resources grading 0.81% copper and 0.26 grams per tonne gold, equating to 651 million pounds of copper and 302,000 ounces of gold. A 2023 preliminary economic assessment for the project outlined a 7,000 tonnes per day open pit operation with a nine-year mine life, yielding a post-tax net present value of C$230 million at a 5% discount rate and an internal rate of return of 29%. The site is road-accessible and situated near grid power.

The company’s portfolio also includes the Catch porphyry copper-gold discovery, which features an earn-in agreement with Agnico Eagle, as well as the Rosy epithermal gold-silver veins, and the Macks, Milner, Byng, Mars, and Idaho Creek properties, all of which are at earlier exploration stages. In April 2026, Agnico Eagle acquired an approximately 19.9% stake in Cascadia through a C$8.86 million financing and secured a right of first offer on the Carmacks project.

Cascadia holds no debt and maintains a cash balance of approximately C$5.8 million as of the first quarter of 2026. This liquidity, combined with the investment from Agnico Eagle, is sufficient to fully fund the company’s planned exploration activities.