Mr. Graham Downs reports

CASCADIA RECEIVES 10-YEAR EXPLORATION PERMIT AND COMMENCES 4,000 M DIAMOND DRILL PROGRAM AT ITS CARMACKS COPPER-GOLD PROJECT, YUKON

Cascadia Minerals Ltd. has received a 10-year Class 4 exploration permit for its 177-square-kilometre Carmacks project. Diamond drilling has commenced, with 4,000 metres planned to focus on expanding resources around the Carmacks Main deposit. A second drill is scheduled to arrive on Sept. 20. The 100-per-cent-owned Carmacks project is road accessible, 10 kilometres from power and 35 kilometres from the past-producing Minto mine, and located within the traditional territory of the Little Salmon Carmacks and Selkirk First Nations.

Highlights:

• Up to 4,000 metres of diamond drilling in 13 holes focusing on deposit expansion, with stepouts on key 2021 drill holes:
  • 2000 zone: 105.52 m of 0.96 per cent copper and 0.18 gram per tonne gold (hole CRM21-011);
  • 1213 zone: 119.40 m of 0.76 per cent copper and 0.14 g/t gold (hole CRM21-025); and
  • 147 zone: 65.35 m of 0.96 per cent copper and 0.32 g/t gold (hole CRM21-019);
• Historical exploration focused on shallow copper oxide mineralization, with sulphide mineralization open along strike and at depth in all zones; and
• 10-year exploration permit includes significant amounts of diamond drilling and support activities, allowing for extensive campaigns of resource expansion and advancement.

"We're very pleased to have the first drill turning in our fully funded initial 4,000-metre drill program at Carmacks, less than a month after closing the acquisition of Granite Creek Copper. Having a 10-year exploration permit in hand is a major milestone, setting the stage for large-scale programs to advance the project. Modelling shows the Carmacks Main deposit is open in all directions. Historical drilling primarily targeted near-surface copper oxide mineralization, leaving extensive areas untested, and, in many cases, holes were shut down when sulphide mineralization was encountered," said Graham Downs, Cascadia's president and chief executive officer. "In addition to the growth potential at the Main deposit, the 177-square-kilometre property covers a large portion of the Minto copper belt and hosts numerous compelling targets that will be advanced for 2026 drilling. One of these targets includes Zone A, which was drilled in the eighties and returned 25 m of 2.27 per cent copper with 2.20 g/t gold. The Carmacks project is one of very few undeveloped copper-gold projects in North America with a road-accessible deposit, clear expansion potential and a district-scale land package."

2025 fall drill program

The Carmacks Main deposit is composed of three zones, 147, 2000S and 1213, that are developed along sections of a copper- and gold-enriched raft of migmatized Stikine volcanic rocks. All zones are exposed at or near surface, and remain open along strike and at depth. The deposit hosts a measured and indicated resource of 651 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. The last major drill program at the deposit was in 2021, which returned numerous high-grade drill intersections that have yet to see follow-up work.

The first of two skid-mounted diamond drills has commenced drilling at the 147 zone. A second drill is scheduled to arrive Sept. 20 to begin drilling at the 1213 zone. The fall 2025 drill program will consist of approximately 4,000 m of diamond drilling, with three or four holes at each of the three zones to target sulphide mineralization downdip and along strike. The Table 1 provides key historical intersections that will be stepped out on in 2025 drilling.

Carmacks project overview

Cascadia's 177-square-kilometre Carmacks project is located 35 km southeast of the past-producing Minto mine, which was recently acquired by Selkirk Copper Mines Inc. The Carmacks project is road accessible, through a 13-kilometre access road, which extends from the government-maintained Freegold Road northwest of Carmacks in central Yukon. The project has an existing 40-person camp and numerous roads throughout the property, and is 10 km from grid power.

The Carmacks project covers a large portion of the Minto copper belt, a 180-kilometre-by-60-kilometre belt of intrusion-related copper-gold-silver deposits. This belt is 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.

The Carmacks Main deposit has a measured and indicated resource containing 651 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. A 2023 preliminary economic assessment demonstrated positive economic potential, with a $230.4-million posttax net present value (5 per cent) and 29-per-cent posttax internal rate of return at $3.75 (U.S.) per pound copper and $1,800 (U.S.) per oz gold. A second case evaluated at $4.25 per lb copper and $2,000 per oz gold returned a $330.1-million posttax NPV (5 per cent) and 38-per-cent after-tax IRR.

The Carmacks Main deposit is composed of three zones, the 147, 2000S and 1213, all of which remain open to expansion along strike and at depth. Historical drilling at the deposit focused primarily on oxide copper mineralization, and numerous holes were ended when sulphide mineralization was encountered. The 1213 zone in particular hosts very shallow sulphide mineralization that has seen limited drilling.

Cascadia is in the process of compiling historical geophysical and geochemical data to fully understand the significant regional potential present at the Carmacks project. Numerous historical targets will be evaluated in future work programs, including Zone A, where drilling in 1980 returned 13.7 m of 3.18 per cent copper with 2.01 g/t gold (80-09) and 22.9 m of 2.27 per cent copper with 2.20 g/t gold (80-18).

About Cascadia Minerals Ltd.

Cascadia's flagship asset is the Carmacks project in the high-grade Minto copper belt in Yukon territory, Canada.

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 m 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.

Quality assurance/quality control

The mineral resources and economic analysis disclosed herein are referenced from the 2023 technical report on the Carmacks project preliminary economic assessment, written by SGS Canada Inc. Pricing for the Carmacks project preliminary economic assessment base-case economic analysis was $3.75 (U.S.) per pound copper, $1,800 (U.S.) per ounce gold and $22 (U.S.) per ounce 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. Estimated true widths vary but are expected to be typically 60 to 70 per cent of the intersected widths.

Results referenced in this release represent highlights only. Below detection values for gold, copper, silver and molybdenum have been encountered in drilling, soil and rock samples in these target areas. Readers are cautioned that the characterization of the Minto deposit mineralization described in this release is not necessarily indicative of mineralization on the Carmacks project.

Copper equivalent value assumes metal prices of $3.75 per lb copper, $2,000 per oz gold, $25 per lb silver and $12 per lb molybdenum, and recoveries of 82 per cent for copper, 70 per cent for gold, 69 per cent for silver and 70 per cent for molybdenum.

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

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