Mr. Graham Downs reports

CASCADIA PROVIDES UPDATE ON THE PURCHASE OF THE BYNG AND MARS PROPERTIES

Cascadia Minerals Ltd. has provided the following update and clarifications regarding its agreement to purchase the Byng and Mars properties from Strategic Metals Ltd. The transaction is described in Cascadia's news release of Feb. 24, 2026.

• The property purchase agreement between Cascadia and Strategic is dated for reference Feb. 20, 2026, and was signed by the parties on Feb. 23, 2026. The transaction was announced by Cascadia on Feb. 24, 2026.
• The transaction involves the acquisition by Cascadia of the Byng property and the Mars property. The Byng property comprises 90 claims, and the Mars property comprises 93 claims.
• In addition to the royalty being granted to Strategic as part of the purchase described in Cascadia's Feb. 24, 2026, news release, the Mars property is subject to a pre-existing royalty on the DDH 1-16 claims, granting Allan Doherty a 1-per-cent net smelter royalty on all production from these claims.
• The purchase agreement provides that the consideration payable to Strategic for the properties being acquired by Cascadia pursuant to the transaction is $250,000, payable as to $125,000 in cash and $125,000 in common shares of Cascadia. The purchase agreement formerly provided that the issue price of these consideration shares would be determined using a 15-day volume-weighted average price prior to the closing of the transaction. The parties have amended the purchase agreement to price the share component of the purchase price at 25 cents per share, representing a 15-day VWAP immediately preceding today's date. As such, the total consideration for the purchase will be:
  • $125,000 in cash; and
  • 500,000 Cascadia shares valued at 25 cents per share.
• There are no finders' fees payable in respect of the transaction.
• The transaction is a non-arm's-length transaction and is a reviewable transaction under TSX Venture Exchange policies as Strategic and Cascadia share a common director, Bruce Youngman. Mr. Youngman was not involved in the negotiation or approval of the transaction.
• The transaction is not a related-party transaction subject to TSX-V Policy 5.9 or Multilateral Instrument 61-101.

The purchase remains subject to acceptance by the TSX Venture Exchange.

About Cascadia Minerals Ltd.

Cascadia's flagship asset is the 180-square-kilometre Carmacks project, located within central Yukon, Canada, 35 km southeast of the past-producing Minto mine. The road-accessible Carmacks project has a measured and indicated resource containing 651 million pounds of copper and 302,000 ounces of gold (36.3 million tonnes grading 0.81 per cent copper, 0.26 gram per tonne gold, 3.23 g/t silver and 0.01 per cent molybdenum) or 1.07 per cent copper equivalent. A 2023 preliminary economic assessment demonstrated positive economic potential, with a $330.1-million posttax net present value (5 per cent) and 38-per-cent after-tax internal rate of return at $4.25 per lb copper and $2,000 per oz gold.

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 metres of 0.31 per cent copper with 0.30 g/t gold). High-grade copper and gold mineralization is found at surface over a five-kilometre-long trend, with grab samples returning peak values of 3.88 per cent copper, 1,065 g/t gold and 267 g/t silver.

Quality assurance/quality control

Results referenced in this release represent highlight results only and include results from historical work conducted by other operators. Below detection values for gold, silver and molybdenum have been encountered in 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. Historical data have not been independently validated by Cascadia.

Copper equivalent calculations for the Carmacks deposit use metal prices of $4 (U.S.) per pound for copper, $2,500 (U.S.) per oz for gold, $30 (U.S.) per oz for silver and $20 (U.S.) per lb for molybdenum. Recovery factors of 82 per cent for copper, 70 per cent for gold, 69 per cent for silver and 70 per cent for molybdenum were used, based on recovery projections from the 2023 preliminary economic assessment study.

The technical information in this news release has been approved by Andrew Carne, PEng, vice-president, corporate development, for Cascadia, a qualified person for the purposes of National Instrument 43-101.

We seek Safe Harbor.