Mr. Steve Letwin reports

CASSIAR GOLD ANNOUNCES INSIDER-LED PRIVATE PLACEMENT FOR UP TO $3 MILLION

Cassiar Gold Corp. intends to complete a non-brokered private placement for aggregate gross proceeds of up to $3-million through a combination of hard-dollar (HD) units at a price of 35 cents per HD unit and flow-through (FT) units at a price of 50 cents per FT unit.

Each HD unit and each FT unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. The shares and warrants underlying the FT units will be issued as flow-through shares within the meaning of the Income Tax Act (Canada). The shares and warrants underlying the HD units will be issued as non-flow-through securities. Each warrant shall entitle the holder to purchase one non-flow-through common share in the capital of the company at a price of 50 cents per warrant share at any time on or before that date which is 24 months after the closing date of the offering.

The company intends to use an amount equal to the gross proceeds from the sale of the FT units to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures as both terms are defined in the tax act and, for British Columbia subscribers, British Columbia flow-through mining expenditures as defined in the Income Tax Act (British Columbia) on the company's flagship Cassiar gold project in Northern British Columbia, Canada, with such expenses to be incurred on or before Dec. 31, 2027, and the company will renounce all the qualifying expenditures in favour of the subscribers of FT units effective Dec. 31, 2026.

The net proceeds from the issuance of HD units will be used for general and administrative expenses of the company.

Closing of the offering is expected to occur on or about Nov. 4, 2026, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

Certain insiders of the company will participate in the offering, and such participation by insiders will constitute a related party transaction as defined in Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company intends to rely on exemptions from the formal valuation and minority shareholder requirements provided under subsections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that neither the fair market value of the subject matter of nor the fair market value of the consideration for the offering, insofar as it involves the insiders, will exceed 25 per cent of the company's market capitalization.

Update on exploration agreement

Further to its news release disseminated on Sept. 22, 2026, Cassiar Gold has received final acceptance from the TSX Venture Exchange to issue to the Dease River First Nation (DRFN), whose traditional territory encompasses the Cassiar gold project in Northern British Columbia, 500,000 units of the company at a deemed price of 52 cents per DRFN unit in accordance with the exploration agreement between the company and the Dease River First Nation. Each DRFN unit will comprise one common share of Cassiar Gold and one non-transferable common share purchase warrant entitling the Dease River First Nation to purchase one additional common share of Cassiar Gold at a price of 65 cents per DRFN warrant share for a period of 12 months from the date of issuance of the DRFN warrants (among other commitments of a customary nature). The DRFN unit shares, DRFN warrants and DRFN warrant shares will be subject to a hold period in Canada of four months and one day from the date of issuance of the DRFN units as well as contractual trading restrictions.

Corporate update

Cassiar Gold is nearing completion of its 2026 exploration drilling program, comprising approximately 10,000 metres across 37 drill holes. The program includes expansion and infill drilling at the Taurus deposit and as well as the high-priority Newcoast regional target two kilometres south from Taurus. Approximately 9,900 metres have been completed at Taurus following the June, 2025, publication of the MRE, which hosts 410,000 ounces of indicated mineral resources grading 1.43 grams per tonne gold and 1.93 million ounces of inferred mineral resources grading 0.95 g/t Au.

The company is targeting completion of its preliminary economic assessment (PEA) in Q1 2027 to allow for advances in geological interpretations, 3-D modelling and recent additional drill results to be incorporated into the studies.

The company continues to evaluate the advancements of the Cassiar South project area, including the potential for strategic collaboration as part of the company's broader efforts to evaluate pathways to production for its extensive and highly prospective land package.

"We believe Cassiar is at an important stage in its evolution. Our 2026 exploration program and studies at Cassiar North will help improve our understanding of the district, and the upcoming preliminary economic assessment will be a critical milestone in demonstrating the project's potential," said Steve Letwin, chairman of Cassiar Gold. "In parallel, we continue to evaluate the opportunities to advance Cassiar South. Our focus is on building long-term value by unlocking the broader potential of this district-scale gold project."

About Cassiar Gold Corp.

Cassiar Gold is a Canadian gold exploration company holding a 100-per-cent interest in its flagship Cassiar gold property located in British Columbia, Canada. The Cassiar gold property spans 590 square kilometres and consists of two main project areas:

• Cassiar North, which hosts an updated mineral resource estimate (MRE) for the Taurus deposit prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum definition standards incorporated by reference in National Instrument 43-101; the pit-constrained MRE contains indicated mineral resources of 8.8 million tonnes at 1.43 grams per tonne gold for 410,000 ounces of gold in addition to inferred mineral resources of 63.2 million tonnes at 0.95 gram per tonne gold for 1.93 million ounces of gold using a 0.4-gram-per-tonne-gold cut-off grade; 91 per cent of ounces occur within 150 metres of surface (see NI 43-101 technical report titled "National Instrument 43-101 Technical Report on the Cassiar Gold Property," prepared by Zelligan, PGeo, and Jolette, PGeo, and dated effective June 8, 2025);
• Cassiar South, which hosts numerous gold showings, historical workings and exploration prospects; historical underground mines in the Cassiar South area have yielded over 315,000 ounces of gold at average head grades of between 10 and 20 grams per tonne gold (NI 43-101 Technical Report titled "National Instrument 43-101 Technical Report on the Cassiar Gold Property," prepared by Zelligan, PGeo, and Jolette, PGeo, and dated effective June 8, 2025), underscoring the high potential for further discovery and expansion of high-grade orogenic gold veins.

The company also holds a 100-per-cent interest in properties covering most of the Sheep Creek gold camp located near Salmo, B.C., Canada. The Sheep Creek gold district ranks as the third-largest past-producing orogenic gold district in British Columbia from 1900 to 1951. Minimal exploration work has been conducted since the 1950s.

Qualified person

Jill Maxwell, PGeo, Cassiar Gold's vice-president, exploration, who is a qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information in this press release.

We seek Safe Harbor.