Mr. Graham Downs of Cascadia Minerals reports

CASCADIA ANNOUNCES CLOSING OF EQUITY INVESTMENT

Cascadia Minerals Ltd. has closed its previously announced non-brokered private placement with Agnico Eagle Mines Ltd. and certain other arm's-length subscribers. Unless otherwise indicated, all dollar amounts are stated in Canadian dollars.

The offering consisted of the issuance and sale of:

• 19,315,300 units of Cascadia to Agnico Eagle at a price of 26 cents per subscribed unit for total gross proceeds of $5,021,978;
• 10 million critical minerals flow-through (CFT) units to the flow-through participants at a price of 38.4 cents per CFT unit for total gross proceeds of $3.84-million.

Each subscribed unit consists of one common share of Cascadia and one-half of one common share purchase warrant. Each warrant is exercisable for one common share at a price of 32 cents per warrant until April 23, 2028. The gross proceeds from the sale of the subscribed units will be used for general working capital purposes and to finance exploration activities at Cascadia's Carmacks project.

Each CFT unit consists of one flow-through common share and one-half of one warrant. The CFT units (including the CFT shares and warrants underlying the CFT units) will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada). The gross proceeds from the sale of the CFT units 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 in connection with critical minerals exploration at the Carmacks property on or before Dec. 31, 2027, and will be renounced to the flow-through participants with an effective date no later than Dec. 31, 2026, in an aggregate amount not less than the gross proceeds raised from the issuance of the CFT units. Cascadia understands that Agnico Eagle has acquired the securities underlying the CFT units from the flow-through participants.

No finders' fees were paid on any portion of the offering. Pursuant to applicable Canadian securities laws, all securities of Cascadia issued as part of the offering are subject to a hold period of four months plus one day from the date of closing of the offering. Following the closing of the offering, Agnico Eagle owns 29,315,300 common shares and 14,657,650 warrants, representing approximately 14.17 per cent of the issued and outstanding common shares on a non-diluted basis, and approximately 19.85 per cent of the issued and outstanding common shares on a partially diluted basis (assuming the exercise of the warrants held by Agnico Eagle).

Cascadia and Agnico Eagle have entered into an investor rights agreement pursuant to which Agnico Eagle is entitled to certain rights, including: (a) the right to participate in equity financings or top up its holding in relation to dilutive issuances in order to maintain its pro rata ownership in Cascadia or acquire up to a 19.99-per-cent interest in Cascadia, on a partially diluted basis; and (b) for so long as Agnico Eagle holds an interest in Cascadia of at least 5.0 per cent (i) the right, but not the obligation, to nominate one person (and in the case of an increase in the size of the board of directors of Cascadia to eight or more directors, two persons) to the board of directors of Cascadia and (ii) a right of first offer over any transfer by Cascadia of all or any portion of Cascadia's Carmacks project.

About Cascadia Minerals Ltd.

Cascadia's flagship asset is the 180-square-kilometre Carmacks project, located within central Yukon, Canada, 35 kilometres southeast of the past producing Minto mine. The road-accessible Carmacks project has a measured and indicated mineral 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, or 1.07 per cent copper equivalent). A 2023 preliminary economic assessment demonstrated positive economic potential, with a $330.1-million posttax NPV (net present value) (5 per cent) and an after-tax IRR (internal rate of return) of 38 per cent, at $4.25 (U.S.) per lb copper and $2,000 (U.S.) per oz gold. Planning is under way for a fully financed 15,000-metre diamond drill program commencing in the spring of 2026, focused on expanding the existing resource at Carmacks.

Cascadia is also exploring the Stikine terrane in Yukon for new gold-copper porphyry discoveries through its partnership with Agnico Eagle. The Stikine terrane extends into Yukon from British Columbia's Golden Triangle and is a highly prospective target area for gold-copper porphyry mineralization. While the expression of the Stikine terrane in British Columbia has been explored in detail -- resulting in numerous discoveries -- its expression in Yukon is comparatively underexplored and not well understood.

QA/QC (quality assurance/quality control)

Copper equivalent calculations for the Carmacks deposit use metal prices of $4 (U.S.) per lb for copper, $2,500 (U.S.) per oz for gold, $30 (U.S.) per oz for silver and $20 (U.S.) per lb for molybdenum. Recovery factors of 82 per cent for copper, 70 per cent for gold, 69 per cent for silver and 70 per cent for molybdenum were used, based on recovery projections from the 2023 PEA (preliminary economic assessment) study. For more information on the 2023 PEA, please see the technical report, entitled "Carmacks Project Preliminary Economic Assessment (PEA), Yukon, Canada," dated March 6, 2023, written by SGS Canada Inc. for Granite Creek Copper Ltd. A copy of this technical report is available on Cascadia's website and on SEDAR+ under the Granite Creek Copper profile.

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.

We seek Safe Harbor.