Cascadia Minerals closes $3-million financing

Mr. Andrew Carne reports CASCADIA ANNOUNCES CLOSING OF C$3M PRIVATE PLACEMENT Cascadia Minerals Ltd. has closed its previously announced non-brokered private placement for total proceeds of $3-million (see news release dated July 24, 2025, for more details). The placement consisted of the sale of 13,043,479 common shares at a price of 23 cents per FT (flow-through) share for total gross proceeds of $3-million. Each FT share will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada). The FT shares are subject to a hold period under applicable Canadian securities laws until Dec. 16, 2025. "With this financing and the Granite Creek acquisition completed, we are fully funded to complete our first phase of resource expansion work at the Carmacks project," stated Graham Downs, Cascadia's president and chief executive officer. "Work is scheduled to commence in early September, with two drills booked and up to 4,000 metres of drilling planned this fall. Our technical team continues to review the Carmacks project data and has identified numerous compelling stepout targets around the existing resource. We're excited to have work under way shortly at this road-accessible property with existing infrastructure and a low cost of drilling." The gross proceeds from the issuance and sale of the FT shares will be used for Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures, as both terms are defined in the tax act. The qualifying expenditures will be incurred on or before Dec. 31, 2026, and will be renounced to the subscribers with an effective date no later than Dec. 31, 2025, in an aggregate amount not less than the gross proceeds raised from the issuance of the FT shares. No finders' fees were paid on any portion of the placement. The proceeds from the placement will be used for critical minerals exploration on Cascadia's Yukon properties, primarily at the Carmacks project. About Cascadia Minerals Ltd. Cascadia's flagship asset is the Carmacks project in the high-grade Minto copper district in Yukon, Canada. The project is located 35 kilometres south of the past-producing Minto mine, which was recently acquired by Selkirk Copper Mines. The Carmacks project hosts a measured and indicated resource containing 651 million pounds (lb) of copper and 302,000 ounces (oz) of gold (36.3 million tonnes grading 0.81 per cent copper, 0.26 gram per tonne (g/t) gold, 3.23 g/t silver and 0.01 per cent molybdenum), with a 2023 PEA (preliminary economic assessment) demonstrating positive economic potential ($230.5-million posttax NPV (net present value) (5 per cent) and a 29-per-cent posttax IRR (internal rate of return)). Cascadia also has a pipeline of discovery stage copper-gold properties throughout the Yukon stikine terrane, including its Catch property, which hosts a copper-gold porphyry discovery where inaugural drill results returned broad intervals of mineralization (116.60 metres of 0.31 per cent copper with 0.30 g/t gold). Catch exhibits extensive high-grade copper and gold mineralization across a five-kilometre-long trend, with rock samples returning peak values of 3.88 per cent copper, 1,065 g/t gold and 267 g/t silver. QA/QC (quality assurance/quality control) The technical information in this news release has been approved by Andrew Carne, PEng, vice-president of corporate development for Cascadia and a qualified person for the purposes of National Instrument 43-101. Prospecting grab samples referenced in this news release represent highlight results only, and include results from 2024 and previous seasons. Below detection values for copper, gold and silver have been encountered in grab samples in these target areas. For more details on Catch drilling and prospecting results, please see Cascadia's news releases dated July 25, 2024, and July 19, 2023. The mineral resources and economic analysis disclosed here are referenced from the 2023 technical report on the Carmacks project preliminary economic assessment, written by SGS Canada Inc. for Granite Creek Copper. Pricing for the Carmacks project PEA base case economic analysis was $3.75 (U.S.) per lb copper, $1,800 (U.S.) per oz gold and $22 (U.S.) per oz silver at an exchange rate of $1 (Canadian) to 75 U.S. cents. The results of the Carmacks preliminary economic assessment are preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the preliminary economic assessment will be realized. We seek Safe Harbor.