Cassiar Gold's Field Campaign Confirms Extension of Gold Showings and Defines Multiple New Exploration Targets

Calgary, Alberta--(Newsfile Corp. - April 16, 2025) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) ("Cassiar Gold" or the "Company") is pleased to report the results of surface exploration conducted across the Cassiar North project area of the Cassiar Gold Property in northern British Columbia during the 2024 exploration program.

The 2024 field campaign was designed to provide the geological, geochemical, and geophysical base for exploration beyond established drill targets. Results from this field program, conducted concurrent to the Company's 2024 diamond drill program, identified new mineralization with grades up to 25.60 grams per tonne (g/t) gold (Au) in grab samples and highlight several priority exploration targets. Results from newly acquired 3D DC-resistivity and induced polarization (DCIP), magnetics, and very low frequency electromagnetic (VLF-EM) survey data remain pending.

Highlights:

Cassiar Gold's field crews have identified new mineralization trends at Cassiar North regional prospects through the combined interpretation of geological mapping, surface rock sampling, and soil sampling (Figures 1,2,3).

• Mapping/surface rock sample results:

  • Yielded surface samples up to 25.60 g/t Au and expanded the Newcoast prospect, tracing the mineralized corridor over 4 kilometres (km) in strike-length and 700 m width.

  • Expanded surface mineralization at the Auroch showing where grab samples returned 7.92 g/t Au and 4.68 g/t Au.

  • Identified new parallel gold-bearing veins and expanded the footprint of mineralization at the Hopeful prospect up to 200 m along-strike & 240 m south of the known gold occurrences.

• Multiple gold-in-soil anomalies were identified in soil sample results, at Cassiar North and remain open beyond the extent of the survey grid.

"Our recent field work has delivered very encouraging results." said Jill Maxwell, VP Exploration for Cassiar Gold Corp. "Detailed mapping, grab sampling, and soils sampling has delineated multiple structurally controlled exploration targets with potential to host significant gold mineralization, supporting our exploration model and highlighting the potential for a larger mineralized footprint than previously defined. We're excited to advance our current phase of work, focussing on refining drill targets within these high-priority zones."

Figure 1. Cassiar North 2024 field campaign plan view of detailed map areas (yellow stars), grab sample locations, soil sample locations, relative to geophysical survey grids for which results/interpretations remain pending.

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Mapping and Sampling Program

The Cassiar Gold Property hosts several targets with potential to host Taurus deposit-style mineralization in outlying areas to the Cassiar North project area where the Taurus bulk-tonnage Inferred gold resource resides with an estimated 1.4 million ounces grading 1.14 grams per tonne (g/t) gold (Au) ^[1]. This potential is in addition to the high-grade shear vein deposit style, typical of the past-producing mines at the Cassiar South project area, which holds potential to host new parallel veins associated with high-grade mineralization, and extensions and fault offsets of the past-producing systems.

Between June and October 2024, Cassiar's field crew conducted geological mapping across an 11 km² area immediately south of the Taurus inferred mineral resource. This program followed up on anomalous gold-in-soil results and higher-grade surface samples identified in the 2023 field season. Mapping assessed volcanic-sedimentary contacts and investigated structural controls at priority prospects, refining target interpretations. Over 1,500 outcrops were mapped and selectively sampled, focusing on expanding previously identified alteration and mineralization zones.

Of the 161 rock samples collected across the project area, 34 samples returned gold assay values >0.50 g/t Au (cutoff grade of the 2022 Taurus Inferred resource ^[1]) and 20 samples exceed 1.00 g/t Au.

The newly identified mineralized showings exhibit similar physical characteristics to that of the Taurus deposit - with sporadically outcropping and near surface narrow sheeted quartz veining, disseminated pyrite, arsenopyrite, and gold-bearing alteration halo in mafic volcanic host rocks. The prospects in the broader map area are separated by relatively flat ground with thin cover, limited outcrop exposure, and very little exploration.

Detailed Map Areas

The 2024 detailed map areas focused on three highly prospective areas peripheral to the Taurus deposit: the Newcoast Prospect, the Bos Trend-Auroch Showing, and the Hopeful Prospect. Key highlights from surface rock sample results are included in Table 1, Figure 2.

Findings identify new areas for follow-up and expand the mineralized footprint at all 3 map areas, highlighting the ongoing potential for continued growth and advancement at Hopeful and Auroch, while newly identified extensions of gold mineralization at Newcoast suggest potential for an extensive, more continuous mineralized system with room for further expansion.

Newcoast Prospect:

This northeast-trending target is host to numerous gold-bearing quartz veins and mineralized showings over 4 km in east-west lateral extent and is located immediately north of paved provincial Highway 37. An 800 m stretch with limited outcrop exposure separates mineralization at the eastern and western extents of the Newcoast trend. Outcomes of the 2024 program:

• Identified new vein segments, including

  • Quartz vein grab sample A0668688 returned 25.60 g/t Au, 45 m northeast of known showings.

• New showings returned 3.01 g/t Au and 2.53 g/t Au, extending surface mineralization 135 m west.

• Expanded the width of the Newcoast mineralized trend by 80 m, establishing up to 720 m-wide target corridor.

Bos Trend-Auroch Showing

Located (1.6 km) east of Taurus mine and 1.2 km northeast of the Cassiar Road, this target area was identified during the 2023 field program. The Bos Trend follows a 900 m northwest-trending structure with anomalous gold-in-soil results extending beyond a major shear zone. The Auroch showing, also discovered during the 2023 season, hosted grab and float samples that returned 9.82 g/t Au and 20.30 g/t Au respectively, with soil samples up to 5.50 ppm Au (see NEWS RELEASE, March 1, 2024).

• Sulphide-mineralized mafic volcanic grab samples returned:

  • 7.92 g/t Au (sample A0668554), extending mineralization 30 m northeast along strike from a 9.82 g/t Au sample collected in 2023, and

  • 4.68 g/t Au (sample A0668556), further confirming the continuity of mineralization at this showing, which remains open.

Hopeful Prospect:

Situated 600 m south and 250 m southeast of the 2022 Taurus Resource pit shell boundary, previous mapping identified a series of parallel east-west trending quartz veins with altered and gold-mineralized wall rock. Results from the 2024 field campaign expand the mineralized footprint at the Hopeful prospect to a 475 m x 330 m area.

• The 2024 field program identified new parallel veins and vein segments which:

  • increase the extent of the mineralized trend along-strike by up to 200 m (ex 3.41 g/t Au in sample A0668608 and 2.01 g/t Au in A0668607), and

  • extend the width of the mineralized footprint 240 m south of known mineralization.

Figure 2. 2024 geological map with grab sample results (g/t Au), relative to the Taurus Inferred Mineral Resource. Areas for follow up identified during 2023 field campaign were subject to detailed mapping in 2024 and are highlighted by yellow rectangles.

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Table 1. Significant 2024 surface rock sample results from the Cassiar North project area based on a >1.0 g/t Au cutoff. Samples reported in the table are grab samples. Note: grab samples are selective by nature and are not necessarily indicative of similar mineralization on the property.

Soil Sampling

A total of 569 soil samples were collected by Cassiar Gold personnel over two grids covering a 2.5 km² area. The soil sampling program aimed to expand the coverage of property soil grids in areas with sparse outcrop exposure and limited historical data. The grids aimed to evaluate continuity and potential for expansion of known mineralization, and to delineate new target areas to the north and south of the Taurus resource. Multiple gold-in-soil anomalies were identified (Figure 3).

Elan Grid: A 1 km² grid immediately north of the 2022 resource pit shell boundary, centered 150 m south of the 3 km-long, gold -bearing Elan vein. Two discrete anomalies (E1, E2) were identified, occurring parallel to the general trend of the Elan vein and narrow sheeted extensional vein sets associated with Taurus deposit mineralization.

• Anomaly E1: a 640 m east-northeast trend of elevated gold-in-soils, including 0.87 parts per million (ppm) Au in sample A0669249, immediately south and parallel to the mapped trend of the Elan Vein.

• Anomaly E2: a second parallel east-northeast trend extending over 820 m, located 450 m south of the Elan vein and 125 m north of the Taurus resource open pit shell model boundary. E2 comprises a narrow trend of anomalous gold-in-soils, including 0.30 ppm in sample A0669401.

Hopeful Grid: A 1.5 km² grid bounded by the 2022 resource pit shell boundary to the north and Wings Canyon to the east, extending southward from the Taurus deposit and centred around the Hopeful prospect. Two east-northeast trending anomalies (H1, H2), both subparallel to the orientation of outcropping extensional veins at The Taurus deposit and Hopeful prospect, were identified in the survey area.

• Anomaly H1: borders the southern extent of the Taurus resource open pit shell model boundary forming a narrow east-northeast trend extending 850 m, parallel to sheeted extensional vein sets at the Taurus deposit. Results included samples A0668878 and A0668967 which returned 0.76 ppm Au and 1.02 ppm Au respectively.

• Anomaly H2: spans 850 m x 300 m and coincides with areas of thin cover proximal to the Hopeful prospect. This anomaly returned the highest assays of the program, including 3.38 ppm, 2.83 ppm, 2.53 ppm and 2.30 ppm in samples A0668977, A0668984, A0668983, and A0669112, respectively with the highest grades occurring proximal to the area of the Wings Canyon brownfields target.

Figure 3. Soil sample grid with gold assays, relative to the Taurus Inferred Mineral Resource. Anomalies of interest are indicated by black dashed outlines and commonly remain open or extend beyond the extent of the survey grid in historical datasets.

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Summary

Through integrated field methods, Cassiar Gold has identified several new exploration targets, refined geologic context at areas slated for follow up field investigations, and reinforced the prospectivity of the district. Geophysical survey results from the 2024 field campaign are being interpreted and integrated into the property exploration model at his time. A summary of geophysical results will be announced upon completion. Exploration targeting and program planning is ongoing in advance of the field season which will commence in the second quarter of 2025 following the completion of an update to the mineral resource estimate for the Cassiar Gold Property, which is currently in progress.

Stock Options

On April 16, 2025, the Company will grant 1,125,000 stock options (the "Options") to certain directors and officers of the Company pursuant to its 10% rolling share option plan ("Stock Option Plan"). The Options will vest with 2/3 of the Options vesting in 12 months from the date of grant, and the remaining 1/3 of the Options vesting in 24 months from the date of grant. The exercise price of the Options will be $0.23.

RSUs and DSUs

On April 16, 2024, the Company will award 1,057,400 restricted share units ("RSUs") and 450,000 deferred share units ("DSUs") to certain directors and officers of the Company pursuant to its fixed RSU/DSU plan ("RSU/DSU Plan"). The RSUs and DSUs will vest with 2/3 of the RSUs and DSUs vesting in 12 months from the date of the grant, and the remaining 1/3 of the RSUs and DSUs vesting in 24 months from the date of grant. Each vested RSU or DSU will be satisfied for one full paid and non-assessable Common Share issued from treasury at a price based on the closing price of the Common Shares on April 16, 2024. The Stock Option Plan and the RSU/DSU Plan provides for awards of no more than 12,721,000 Common Shares.

Qualified Person

The technical information in this news release has been reviewed and approved by Jill Maxwell, P.Geo., Cassiar Gold Corp.'s VP Exploration, who is a Qualified Person as defined by National Instrument 43-101.

Methodology, Quality Assurance (QA) and Quality Control (QC)

The 2024 Cassiar grab samples were selected and described by Company Geologists prior to bagging in the field. Certified gold reference standards and blanks were routinely inserted into the sample stream as part of the Company's QA/QC program. All samples were delivered to the ALS Global preparation facility in Whitehorse, Yukon, where they were shipped to the ALS Global analytical facility in Vancouver, British Columbia for processing and analyses. Samples were analyzed for gold by 50-gram fire assay with finish by atomic absorption or gravimetric methods, as well as 34 multielement analysis via 4 acid digest with ICP-AES finish.

The 2024 Cassiar soil samples were predominantly comprised of B and C horizon material, dependent on the nature of terrain and soil development at a sample station. Samples were bagged, transported and submitted for preparation at ALS prep facility in Whitehorse, YT with analyses at ALS Global in Vancouver, BC. The soil samples were reconnaissance in nature and the Company has relied on the internal QA/QC practices of ALS for this series of sampling. Samples were dried then sieved up to -180 micron (80 mesh), analyzed for gold by 30-gram fire assay and 51 multielement analysis aqua regia digestion with ICP-MS finish.

ALS Global quality systems and technical aspects conform to requirements of ISO/IEC Standard 17025 guidelines.

About Cassiar Gold Corp.

Cassiar Gold Corp. is a Canadian gold exploration company holding a 100% interest in its flagship Cassiar Gold Property located in British Columbia, Canada. The Cassiar Gold property spans 590 km² and consists of two main project areas: Cassiar North, which hosts a NI 43-101-compliant inferred resource estimate of 1.4Moz at 1.14 g/t Au (cutoff grade of 0.5 g/t Au) known as the Taurus Deposit (see National Instrument 43-101 Technical Report on the Cassiar Gold property, April 28, 2022, by S. Zelligan, J. Moors, C. Jolette, which is available on SEDAR+); and 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 oz of Au at average head grades of between 10 and 20 g/t Au¹, underscoring the high potential for further discovery and expansion of high-grade orogenic gold veins.

The Company also holds a 100% interest in properties covering most of the Sheep Creek gold camp located near Salmo, British Columbia, Canada. The Sheep Creek gold district ranks as the third largest past-producing orogenic gold district in British Columbia with historical gold production of 742,000 ounces gold at an average grade of 14.7 g/t gold from 1900 to 1951. Minimal exploration work has been conducted since the 1950s.

Cassiar Gold Corp. acknowledges, respects, and supports the rights of Traditional First Nations in the lands and communities where we operate.

Forward-Looking Statements

This press release may contain forward looking statements including those describing Cassiar Gold's future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Cassiar Gold and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the Company's exploration plans and work commitments.

Although Cassiar Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, general economic, market or business conditions, risks associated with the exploration and development industry in general (e.g., operational risks in development, exploration and production; the uncertainty of mineral resource estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), constraint in the availability of services, commodity price and exchange rate fluctuations, the COVID-19 pandemic, changes in legislation impacting the mining industry, adverse weather conditions and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.

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 release.

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[1] See April 28, 2022, NI43-101 Report titled "National Instrument 43-101 Technical Report on the Cassiar Gold Property" by Zelligan, P.Geo, Moors, P.Geo, Jolette, P.Geo.

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