Mr. Graham Downs reports

CASCADIA PURCHASES THE BYNG AND MARS PROPERTIES IN SOUTHERN YUKON

Cascadia Minerals Ltd. has signed an agreement to purchase the Byng and Mars properties from Strategic Metals Ltd.

Under terms of the purchase agreement, which is subject to TSX Venture Exchange acceptance, Strategic has agreed to sell Cascadia a 100-per-cent interest in the Byng and Mars projects, subject to a 2-per-cent net smelter return (NSR) royalty, for consideration of $125,000 in cash and $125,000 in Cascadia shares priced on the volume-weighted average trading price of Cascadia shares for the 15 days immediately prior to the closing date. Cascadia has the option to purchase half of the NSR royalty for $2-million, subject to adjustment by the Canadian Consumer Price Index. The Cascadia shares will be subject to customary resale restrictions.

The Byng and Mars properties complement and expand Cascadia's grassroots regional property portfolio, focused on copper-gold porphyry exploration in the Stikine terrane, a geologically favourable setting that extends into Yukon from British Columbia's Golden Triangle.

Closing of the purchase is subject to TSX Venture Exchange acceptance and approval from the Teslin Tlingit Council (TTC) for Cascadia to assume certain responsibilities under an existing exploration agreement between Strategic and the TTC pertaining to the Byng property.

Byng property overview

The 18-square-kilometre Byng property is located 50 kilometres northeast of Whitehorse in southern Yukon, within the traditional territories of the TTC, Ta'an Kwach'an Council (TKC) and Kwanlin Dun First Nation (KDFN). The Byng property is located within the Stikine terrane, within a package of Triassic volcanics and Mid-Cretacious intrusives. It hosts a number of low-sulphidation epithermal veins with gold-silver-copper mineralization. Sporadic exploration has been conducted on the property since 1986, including soil sampling, prospecting and geophysical surveys.

The property exhibits zones of anomalous soil geochemistry, with peak values of 1,770 parts per billion (ppb) gold, 30 parts per million (ppm) silver, 3420 ppm arsenic, 517 ppm copper and 69 ppm molybdenum. Prospecting has identified high-grade mineralization with grab samples, including 126.9 g/t gold, 164.5 g/t silver and 6.5 per cent copper.

Mars property overview

The 19-square-kilometre Mars property is located 65 kilometres north of Whitehorse in southern Yukon, within the traditional territories of the TKC and KDFN. It is situated within the Stikine terrane, on the southwest margin of the Teslin Crossing pluton. Sporadic exploration has occurred on the property since the early 1970s, exploring for copper-gold-molybdenum porphyry mineralization. Previous work on the property has included soil sampling, prospecting, trenching, geophysical surveys and five diamond drill holes.

The property exhibits zones of anomalous soil geochemistry, with peak values of 1,360 ppm copper, 485 ppb gold and 120 ppm molybdenum. Diamond drilling has returned intervals with elevated copper and gold, including:

• 6.44 grams per tonne (g/t) gold over 4.56 metres from 18.29 metres in hole M4-06;
• 0.16 per cent copper with 0.27 g/t gold over 23.07 m from 179.83 m in hole MARS-11-02;
• 0.25 per cent copper with 0.17 g/t gold over 14.75 m from 224.23 m in hole MARS-11-02.

About Cascadia Minerals Ltd.

Cascadia's flagship asset is the 177-square-kilometre Carmacks project, located within in central Yukon, Canada, 35 kilometres southeast of the past-producing Minto mine. The road-accessible Carmacks project has 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 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 a 38-per-cent after-tax IRR (internal rate of return) at $4.25 per lb copper and $2,000 per oz gold.

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). High-grade copper and gold mineralization is found at surface over five-kilometre-long trend, with grab 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)

Results referenced in this news release represent highlight results only and include results from historical work conducted by other operators. Below detection values for gold, silver and molybdenum have been encountered in soil and rock samples in these target areas. Readers are cautioned that grab samples are selective by nature and are not necessarily representative of the grade of mineralization on the property. Historical data have not been independently validated by Cascadia.

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.

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.