Mr. Graham Downs reports

CASCADIA COMPLETES REGIONAL QMAG(TM) FULL TENSOR MAGNETIC GRADIOMETRY SURVEY AT CARMACKS

Cascadia Minerals Ltd. has completed a high-resolution quantum magnetic gradiometer technology (QMAG) full tensor magnetic gradiometry geophysical survey at its 100-per-cent-owned road-accessible Carmacks copper-gold project in central Yukon.

Highlights

• A 2,261-line-kilometre airborne QMAG survey was completed over the entire 180-square-kilometre Carmacks project;
• Survey lines were flown at 100-metre spacing using Dias Airborne Ltd.'s proprietary QMAG system as well as a conventional total magnetic intensity sensor;
• Magnetic surveys have proven highly effective at delineating prospective rafts, intrusive bodies and structural corridors within the Minto copper belt;
• Unlike previous conventional magnetic surveys, QMAG measures the full magnetic gradient tensor using ultrasensitive superconducting quantum interference device (SQUID) sensors, providing stronger constraints for three-dimensional geological modelling and improving the delineation of prospective targets.

"We're excited to have had the Dias team onsite at Carmacks," said Graham Downs, president and chief executive officer of Cascadia. "The 180-square-kilometre Carmacks project covers a massive portion of Yukon's Minto copper belt, which hosts an exceptional combination of favourable geology, widespread copper-gold mineralization but has seen very little modern exploration. The QMAG survey will provide a significantly more detailed understanding of the entire property's magnetic architecture, improving our interpretation of the geological controls on mineralization and allowing us to refine existing and new targets for follow-up exploration."

The survey represents the next phase of systematic exploration at Carmacks. Cascadia anticipates the data will help identify additional targets beneath and adjacent to the existing Carmacks deposit, refine existing targets and identify new copper-gold targets throughout the property.

Following completion of the survey, Cascadia will integrate the processed full tensor magnetic data with existing geological mapping, geophysics, soil geochemistry, rock sampling, and historical drilling to refine its geological model and prioritize targets for future drilling. Key areas of focus include Zone A, located 11 kilometres north of the Carmacks deposit, where historical drilling in 1980 intersected 22.86 m grading 2.27 per cent copper and 2.20 grams per tonne gold from 56.21 metres, as well as an anomaly east of Zone 10, located four km south of the deposit, where recent soil sampling and prospecting have identified mineralization at surface in a historical road cut. Follow-up soil sampling, prospecting and trenching are under way or will be completed in this area and at numerous other underexplored targets across the property

The airborne survey was completed by Dias Airborne using its proprietary QMAG system at a line spacing of 100 m, providing increased resolution compared with historical surveys flown at broad spacing.

Unlike conventional airborne magnetic surveys, which measure only total magnetic intensity, QMAG measures the full magnetic gradient tensor. The additional measurements provide substantially greater information about the geometry, orientation and magnetization of subsurface bodies, enabling more accurate mapping of lithological contacts, intrusive phases, structural corridors and hydrothermal alteration associated with mineralization.

The richer data set also provides stronger constraints for three-dimensional inversion than conventional magnetic surveys, reducing ambiguity in subsurface geological models. This is expected to improve the interpretation of geological features concealed beneath cover and within the Granite Mountain batholith on the Carmacks project, where conventional exploration methods have historically been less effective.

Carmacks project overview

Cascadia's 180 square km Carmacks project is located within the Traditional Territory of the Little Salmon Carmacks and Selkirk First Nations and is 35 km southeast of the past-producing Minto mine, which was recently acquired by Selkirk Copper Mines Inc. The Carmacks project is road accessible, via a 13 km access road which extends from the government-maintained Freegold Road northwest of the town of Carmacks in central Yukon. The project has an existing 40-person camp, numerous roads throughout the property and is 10 km from grid power.

The project covers a large portion of the Minto copper belt, a 180 km by 60 km belt of intrusion-related copper-gold-silver deposits. This belt is situated within the Stikine terrane, which extends into Yukon from British Columbia, and is characterized by Late Triassic to early Jurassic volcanic-plutonic arc complexes that are well-endowed with copper-gold-molybdenum porphyries including the Red Chris, Schaft Creek, Kemess, KSM, and Galore Creek deposits and mines.

In addition to numerous early stage targets, the project hosts the resource-stage Carmacks deposit, comprising a series of five to 100 m wide rafts of variably migmatized xenolithic meta-sedimentary and meta-volcanic rocks hosted within the coarse crystalline granitoids of the Granitoid Mountain batholith suite. The rafts generally trend north-northwest-south-southeast over three km of strike length and form three distinct zones of mineralization. Sulphide mineralization is confined to the metamorphic rafts and is found as chalcopyrite-bornite foliation parallel stringers as well as net-textured clots, interpreted as evidence for later sulphide melts. The contacts with the intrusive phases of the granite mountain batholith are sharp and unaltered. The geology and deposit model are thought to be similar to the nearby Minto deposit, with past work suggesting that the system is the result of an alkalic porphyry deposit that was metamorphosed up to the point of partial melting at depths of up to 25 km, followed by rapid uplift to near surface.

The Carmacks deposit has a measured and indicated resource containing 651 Mlb (million pounds) of copper and 302,000 ounces of gold (36.3 million tonnes grading 0.81 per cent copper, 0.26 g/t gold, 3.23 g/t silver and 0.01 per cent molybdenum) or 1.07 per cent copper equivalent, and an inferred resource containing 38 Mlb of copper and 13,000 oz of gold (2.9 Mt grading 0.60 per cent copper, 0.16 g/t gold, 2.34 g/t silver and 0.02 per cent molybdenum). A 2023 preliminary economic assessment demonstrated positive economic potential, with a $230.4-million post-tax NPV (net present value) (5 per cent) and 29-per-cent post-tax IRR (internal rate of return) at $3.75 (U.S.)/lb copper and $1,800 (U.S.)/oz gold. A second case evaluated at $4.25/lb copper and $2,000/oz gold returned a $330.1-million post-tax NPV (5 per cent) and 38-per-cent after-tax IRR.

The deposit comprises three zones, 147, 2000S and 1213, all of which come to surface and remain open to expansion in multiple directions. Historical drilling at the deposit focused primarily on oxide copper mineralization, and numerous holes were ended when sulphide mineralization was encountered. Zone 1213 in particular hosts very shallow sulphide mineralization that has seen limited drilling.

About Cascadia Minerals Ltd.

Cascadia's flagship asset is the Carmacks project in the high-grade Minto copper belt in Yukon Territory, Canada. Cascadia is also exploring the Stikine terrane in Yukon for new gold-copper discoveries through its strategic alliance 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.

Qualified person

The technical information in this news release has been approved by Thomas Hawkins, PGeo, vice-president, exploration, for Cascadia and a qualified person for the purposes of National Instrument 43-101.

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