Cascadia Provides Exploration Update, Announces AGM Results and Grant of Options
VANCOUVER, BC, June 26, 2025 /CNW/ - Cascadia Minerals Ltd. (" Cascadia") (TSXV: CAM) (OTCQB: CAMNF) is pleased to provide an update on phase one exploration activities at its Catch Property in Yukon. Cascadia also announces the results of its 2025 Annual General Meeting of shareholders (the " Meeting"), and the granting of incentive stock options and restricted share units.
Catch Phase One Exploration Update:
The first ever diamond drill holes at the Amp Zone were completed with a total of 741.50 m drilled in five holes testing an outcrop which returned 1,065 g/t gold with 267 g/t silver in 2024 prospecting (Figure 1);
Field crews identified two discrete zones of surface alteration at Amp, one corresponding with the high-grade gold outcrop samples, and one corresponding with nearby high-grade copper samples (2.13% copper in subcrop sampled in 2023);
The Amp Zone is interpreted to be an intermediate sulphidation epithermal zone based on observed mineralogy, vein textures and elemental signature; and
Comprehensive field mapping has provided a much better understanding of the potential source of mineralisation at the Volt Zone, preparing it for drilling in a future phase of work.
" We have had a very productive start to the exploration season at Catch," said Graham Downs, President and CEO. " Our team now has a much better understanding of the nature of mineralization at Amp and Volt. Based on the scale of the alteration present at Amp, we allocated the full Phase 1 drill program to testing this target. Volt remains a compelling target, and we look forward to drill testing it in future work phases. Our crews will go on a short break before we transition to prospecting and mapping programs at Macks, Milner, Rosy and Idaho Creek while we await assay results from Catch."
Catch Property Exploration Overview
The 2025 phase one exploration program at Catch consisted of 741.50 m of diamond drilling in five holes at the Amp Zone, as well as the collection of 109 prospecting rock samples and 319 soil samples. Field crews spent two weeks prospecting and mapping the Amp and Volt zones prior to drilling.
At Amp, a series of northeast striking alteration zones were identified at surface, corresponding with previous rock samples which returned high copper and gold grades (Figure 1). These zones vary in width and appear to be steeply dipping to the south. A total of five diamond drill holes were completed targeting these zones, with all holes encountering silicified zones, as well as varying amounts of pyrite±sphalerite±chalcopyrite. Based on the observed vein textures and mineral assemblage, the mineralization is interpreted to be intermediate sulfidation in nature.
Holes CA-25-011 and CA-25-012 were drilled immediately under the outcrop which returned 1,065 g/t gold with 267 g/t silver in 2024 prospecting. Hole 11 targeted the zone approximately 25 m below surface, and Hole 12 was a deeper undercut.
Holes CA-25-013 and CA-25-014 were drilled 50 m to the northeast, along the projected strike of the alteration zone. Hole 13 was a shallower test, with Hole 14 as a deeper undercut.
Hole CA025-015 was collared 100 m north of Hole 11, targeting the high-grade gold outcrop from a different drill orientation, to test a second orientation in case the mineralization is orthogonal to the interpreted alteration zone.
Crews are in the process of finishing the logging of drill core and are diligently working to cut samples and prepare them for shipment to the assay laboratory. Turnaround times can vary significantly in summer, which is peak Yukon exploration season. Cascadia will provide further updates as soon as results are received and reviewed.
Crews also conducted comprehensive prospecting and mapping at the Volt Zone, to identify the bedrock source of significant mineralization in float across a 500 m area. The Volt Zone has a localized landslide at surface which was remobilized material up to several hundred metres from source, complicating the ability to target it in drilling. During the prospecting program, several new outcrops with encouraging alteration on the periphery of the slide area were identified and sampled.
The next phase of work will comprise prospecting and mapping at Cascadia's earlier-stage projects, Macks, Milner, Rosy and Idaho Creek, while assay results are pending from Catch.
Annual General Meeting
Cascadia's Annual General Meeting of shareholders was held on June 25 th, 2025. All seven director nominees listed in the Management Information Circular dated May 13, 2025 were elected.
"On behalf of the Cascadia team and board, I would like to officially welcome Paul West-Sells to Cascadia's board of directors. Paul's previous experience on the Carmack's Copper Project while with Western Copper Corporation coupled with his Ph.D. in Metallurgical Engineering and extensive project development experience will be an invaluable benefit to Cascadia as we advance our projects."
The resolutions approving the appointment of the Company's auditors and renewal of the Omnibus Equity Incentive Plan (the " Plan") were also passed.
At the Meeting, a total of 23,451,278 shares were voted, representing 33.07% of Cascadia's issued and outstanding common shares.
The voting results for the election of Directors are set forth below:
The voting results for the additional resolutions are set forth below:
Equity Incentive Plan Grants
Cascadia also announces the granting of incentive stock options (the " Options") to its directors, officers, employees and consultants, pursuant to the Plan, entitling them to purchase up to 2,400,000 common shares at a price of $0.17 per share. These options have a term of five years and will vest on a quarterly basis, commencing three months from the date of grant.
In addition, Cascadia also announces the granting of 405,000 Restricted Share Units (" RSUs") to certain of its executive officers and key employees pursuant to the Plan. These RSUs will vest one-third per year commencing one year from the date of grant.
Further terms of the RSUs and Options can be found in the Plan, which is summarized in Cascadia's information circular dated May 13, 2025, as filed on SEDAR+ at www.sedar.ca under the Cascadia Minerals Ltd. profile.
About Cascadia
Cascadia is a Canadian junior mining company focused on making new copper and gold discoveries the Yukon and British Columbia. Cascadia's flagship Catch Property in the Yukon hosts a brand-new copper-gold porphyry discovery where inaugural drill results returned broad intervals of mineralization, including 116.60 m of 0.31% copper with 0.30 g/t gold. Catch exhibits extensive high-grade copper and gold mineralization across a 5 km long trend, with rock samples returning peak values of 3.88% copper, 1,065 g/t gold, and 267 g/t silver.
Cascadia and Granite Creek Copper Ltd. recently announced a merger, whereby Cascadia will acquire all outstanding shares of Granite Creek by way of a plan of arrangement (see news release dated June 9, 2025). Granite Creek is a growth stage exploration company, focused on the acquisition and development of exploration properties that host, or have the potential to host, precious base or critical minerals. GCX's flagship asset is the Carmacks Project in the high-grade Minto copper district in Yukon Territory, Canada. The project is located south of and within 35km of the Minto mine.
QA/QC
The technical information in this news release has been approved by Austin Schneebeli, P.Geo., Senior Geologist for Cascadia and a qualified person for the purposes of National Instrument 43-101.
Prospecting grab samples referenced in this release represent highlight results only, and include results from 2024 and previous seasons. Below detection values for copper, gold and silver have been encountered in grab samples in these target areas. For more details on Catch drilling and prospecting results, please see Cascadia's News Releases dated July 25, 2024, and July 19, 2023.
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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The Company plans to use the net proceeds of the Brokered Offering and the Non-Brokered Placement for the advancement of the Company's wholly owned Crawford Nickel Sulphide Project as well as for working capital and general corporate purposes. The gross proceeds from the Flow-Through Offering will be used by the Company to incur (or be deemed to incur) eligible resource exploration expenses that will qualify as (i) "Canadian exploration expenses" (as defined in the Income Tax Act (Canada)), (ii) "flow-through critical mineral mining expenditures" (as defined in subsection 127(9) of the Income Tax Act (Canada)), and (iii) "eligible Ontario critical mineral exploration expenditures" within the meaning of subsection 103(4.1) of the Taxation Act, 2007 (Ontario) (collectively, the " Qualifying Expenditures"). Qualifying Expenditures in an aggregate amount not less than the gross proceeds raised from the issuance of the FT Shares will be incurred (or deemed to be incurred) by the Company on or before December 31, 2026, and will be renounced by the Company to the initial purchasers of the FT Shares with an effective date no later than December 31, 2025. The Brokered Offering remains subject to the final approval of the TSX Venture Exchange (the " TSX-V"). Both the Flow-Through Offering and Non-Brokered Placement are scheduled to close on or around July 4, 2025, subject to receipt of all required approvals, including the approval of the TSX-V. The securities issued or to be issued pursuant to the Offerings to purchasers in Canada are or will be subject to a four-month hold period in Canada pursuant to applicable Canadian securities laws. The Brokered Units were offered to purchasers outside of Canada pursuant to an exemption from the prospectus requirements in Canada available under OSC Rule 72-503 – Distributions Outside Canada and, accordingly, the securities issued pursuant to the Brokered Offering to purchasers outside of Canada are not subject to a four-month hold period in Canada. The Broker Warrants, the Finder Warrants and the securities issuable upon exercise thereof are subject to a four-month hold period pursuant to applicable Canadian securities laws. Certain directors of the Company subscribed for an aggregate 435,295 Brokered Units under the Brokered Offering on the same terms as arm's length investors. The participation of the directors in the Brokered Offering constitutes a "related party transaction" for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Brokered Offering in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities issued to the directors nor the fair market value of the consideration for the securities issued to the directors exceeds 25% of the Company's market capitalization as calculated in accordance with MI 61-101. The Company did not file a material change report containing all of the disclosure required by MI 61-101 more than 21 days before the expected closing date of the Brokered Offering as the aforementioned insider participation had not been confirmed at that time and the Company wished to close the Brokered Offering as expeditiously as possible. The securities offered have not been registered under the U.S. Securities Act, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. About Canada Nickel Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless-steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero NickelTM, NetZero CobaltTM, NetZero IronTM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins Nickel District. For more information, please visit For further information, please contact: Mark Selby, CEO Phone: 647-256-1954 Email: [email protected] Cautionary Statement Concerning Forward-Looking Statements This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information in this press release includes, but is not limited to: structure and terms of the Flow-Through Offering and Non-Brokered Placement, the anticipated closing date of the FT Offering and the Non-Brokered Placement, the intended use of proceeds of the Offerings, and approval of the Offerings by the TSX-V. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the Company's properties, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, and failure to obtain regulatory or shareholder approvals. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law Neither TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
