VANCOUVER, BC, July 24, 2025 /CNW/ - Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM) (OTCQB: CAMNF) is pleased to announce a non-brokered private placement (the "Offering") of up to $3,000,000.
The Offering will consist of the sale of 13,043,478 common shares (each a "FT Share") at a price of $0.23 per FT Share for total gross proceeds of approximately $3,000,000. Each FT Share will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) ("Tax Act").
"This financing will allow us to significantly expand our planned work program at the Carmacks Copper project this fall, once the transaction with Granite Creek Copper closes," stated Graham Downs, Cascadia's President and CEO, "We're very encouraged by the exploration potential at Carmacks, and plan to drill up to 4,000 m this fall at near-surface sulfide targets adjacent to the existing mineral resource."
The gross proceeds from the issuance and sale of the FT 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 FT Shares.
The proceeds from the Offering will be used for critical minerals exploration primarily at the Carmacks Copper project, following the completion of Cascadia's transaction with Granite Creek Copper Ltd., announced June 9, 2025, and anticipated to close in early August. 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 August 15, 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 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'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 past-producing Minto mine, which was recently acquired by Selkirk Copper Mines. The Carmacks Project hosts 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, and 3.23 g/t silver and 0.01% molybdenum) with a 2023 PEA demonstrating positive economic potential ($230.5 M Post-Tax NPV(5%) and 29% Post-Tax IRR).
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.
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.
The Mineral Resources disclosed here are referenced from the 2023 Technical Report on the Carmacks Project Preliminary Economic Assessment, authored by SGS Canada Inc. for Granite Creek Copper, and have not been independently reviewed by Cascadia. 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. For more details on the economic analysis, refer to the 2023 Technical Report on the Carmacks Project Preliminary Economic Assessment, authored by SGS Canada Inc. for Granite Creek Copper. 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.
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.
