OR FOR Dissemination IN the United States /
Cascadia Announces C$4.1M Non-Brokered
Private Placement
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE
UNITED STATES
/
VANCOUVER, BC
,
Dec. 1, 2025
/CNW/ - Cascadia Minerals Ltd. ("
Cascadia
") (TSXV: CAM)
(OTCQB: CAMNF) is pleased to announce a non-brokered private placement(the "
Offering
") of up
to
$4,106,667
led by strategic investor
Michael Gentile
, one of Cascadia's largest shareholders.
The Offering will consist of the sale of:
a) 6,666,667 non-flow-through units (the "
NFT Units
") to be sold at a price of
$0.15
per NFT
Unit, for total gross proceeds of approximately
$1,000,000
; and
b) 13,333,333 critical minerals flow-through units (the "
CFT Units
") to be sold at a price of
$0.233
per CFT Unit for total gross proceeds of approximately
$3,106,667
.
"With the success of our initial resource expansion drill campaign at the Carmacks Property this
fall we will be undertaking a significantly expanded work program next year,"
stated
Graham
Downs
, Cascadia's President and CEO,
"This financing will fully fund a planned
15,000 m
diamond
drilling program in 2026, which will continue to test expansion of the core Carmacks Deposit, as
well as evaluate numerous compelling regional targets. In addition, results from a further eight
resource expansion holes drilled this fall are still outstanding, seven of which encountered
sulphide mineralization."
Each NFT Unit will comprise one common share and one-half of one common share purchase
warrant (each whole such common share purchase warrant, a "
Warrant
"). Each whole warrant shall
be exercisable into one additional common share for thirty-six (36) months from closing at an
exercise price of
$0.20
per Warrant. Each CFT Unit will comprise one flow-through common share
(a "
CFT Share
") and one-half of a Warrant.
Each CFT Share will qualify as a "flow-through share" within the meaning of subsection 66(15) of the
Income Tax Act
(
Canada
) ("
Tax Act
"). The gross proceeds from the issuance and sale of the CFT
Shares 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
").
The Qualifying Expenditures will be incurred on or before
December 31, 2026
, and will be renounced
to the subscribers with an effective date no later than
December 31, 2025
, in an aggregate amount
not less than the gross proceeds raised from the issuance of the CFT Shares.
The proceeds from the Offering will be used for critical minerals exploration primarily at the
Carmacks Property. A portion of proceeds from the Offering may be used for exploration at
Cascadia's Catch, Macks, Milner, and Idaho Creek properties.
The Offering is scheduled to close on or before
December 22, 2025
, and is subject to regulatory
acceptance.
Finder's fees may be paid in accordance with TSX Venture Exchange policies. All securities issued
as part of the Offering will be subject to a hold period in
Canada
of four months plus one day from
the closing of the Offering.
About Cascadia
Cascadia's flagship asset is the 177 km
2
Carmacks Project, located within the Traditional Territory
of the Little Salmon Carmacks and Selkirk First Nations, 35 km southeast of the past producing
Minto Mine. 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 Carmacks Main Deposit has a Measured and Indicated Resource containing 651 Mlbs of
copper and 302 koz of gold (36.3 million tonnes grading 0.81% copper, 0.26 g/t gold, 3.23 g/t silver
and 0.01% molybdenum) or 1.07% copper equivalent, and an Inferred Resource containing 38 Mlbs
of copper and 13 koz of gold (2.9 Mt grading 0.60% copper, 0.16 g/t gold, 2.34 g/t silver and 0.02%
molybdenum). A 2023 preliminary economic assessment demonstrated positive economic potential,
with a
$230.4 M
post-tax NPV
(5%)
and 29% post-tax IRR at
US$3.75
/lb copper and
US$1,800
/oz
gold. A second case evaluated at
$4.25
/lb copper and
$2,000
/oz gold returned a
$330.1 M
post-tax
NPV
(5%)
and 38% after-tax IRR.
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% copper with 0.30 g/t gold).
High-grade copper and gold mineralization is found at surface over 5 km long trend, with grab
samples returning peak values of 3.88% copper, 1,065 g/t gold, and 267 g/t silver.
QA/QC
The technical information in this news release has been approved by
Andrew Carne
, P.Eng., VP
Corporate Development for Cascadia and a qualified person for the purposes of National Instrument
43-101.
The Mineral Resources and economic analysis disclosed here are referenced from the 2023
Technical Report on the Carmacks Project Preliminary Economic Assessment, authored by SGS
Canada Inc. Pricing for the Carmacks Project PEA base case economic analysis was US
$3.75
/lb
copper, US
$1,800
/oz gold, and US
$22
/oz silver at an exchange rate of
$1
:
US$0.75
. 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.
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 grab samples are selective by nature and are not necessarily
representative of the grade of mineralization on the property. Copper equivalent calculations use
metal prices of
US$4.00
/lb for copper,
US$2,500
/oz for gold and
US$30
/oz for silver. Recovery
factors of 82% for copper, 70% for gold, and 69% for silver were used, based on recovery
projections from the 2023 PEA study.
On behalf of Cascadia Minerals Ltd.
Graham Downs
, President and CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Cautionary note regarding forward-looking statements:
This press release may contain "forward-looking information" within the meaning of applicable
securities laws. Readers are cautioned to not place undue reliance on forward-looking information.
Actual results and developments may differ materially from those contemplated by these
statements. The statements in this press release are made as of the date of this press release.
The Company undertakes no obligation to update forward-looking information, except as required
by securities laws.
SOURCE
Cascadia Minerals Ltd.
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For further information:
For further information, please contact: Andrew Carne, M.Eng., P.Eng.,
VP Corporate Development, Cascadia Minerals Ltd., T: 604-688-0111 ext. 106,
CO: Cascadia Minerals Ltd.
CNW 08:00e 01-DEC-25