Mr. Jason Shepherd reports

CASSIAR GOLD ANNOUNCES PRIVATE PLACEMENT FOR $5 MILLION

Cassiar Gold Corp. has arranged a non-brokered private placement of flow-through units for gross proceeds of $5-million, with proceeds to be used to finance continuing and future exploration and drill programs at its flagship Cassiar gold project in Northern British Columbia, Canada.

Each FT unit will consist of one common share in the capital of the company at a price of 36 cents per FT unit, issued on a Canadian exploration expense (CEE) flow-through basis, pursuant to the Income Tax Act (Canada), and one common share purchase warrant. Each warrant will be exercisable by the holder to acquire one common share at a price of 50 cents for a period of 24 months following the closing date of the offering.

In connection with the offering, certain finders may receive a cash fee and/or non-transferable finders' warrants.

The company will use the gross proceeds from the sale of the FT units to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures, as both terms are defined in the Income Tax Act (Canada), and for British Columbia subscribers, British Columbia flow-through mining expenditures, as defined in the Income Tax Act (British Columbia), on the company's flagship Cassiar gold project in Northern British Columbia, Canada, with such expenses to be incurred on or before Dec. 31, 2026, and the company will renounce all the qualifying expenditures in favour of the subscribers of the FT units effective Dec. 31, 2025.

Certain insiders of the company are anticipated to participate in the offering, and such participation by insiders will constitute a related party transaction, as defined in Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that neither the fair market value of the securities to be issued under the offering nor the consideration to be paid by insiders of the company will exceed 25 per cent of the company's market capitalization.

The closing of the offering is expected to occur on or before July 10, 2025, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The securities issued pursuant to the offering will be subject to a four-month hold period from the closing date of the offering, in accordance with applicable securities laws.

About Cassiar Gold Corp.

Cassiar Gold is a Canadian gold exploration company holding a 100-per-cent interest in its flagship Cassiar gold property, located in British Columbia, Canada. The Cassiar gold property spans 590 square kilometres and consists of two main project areas:

1. Cassiar North, which hosts an updated mineral resource estimate (MRE) for the Taurus deposit prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum definition standards incorporated by reference in National Instrument 43-101. The pit-constrained MRE contains indicated mineral resources of 8.8 million tonnes at 1.43 grams per tonne gold for 410,000 ounces of gold, in addition to inferred mineral resources of 63.2 million tonnes at 0.95 g/t Au for 1.93 million ounces of gold, using a 0.4 g/t Au cut-off grade; 91 per cent of ounces occur within 150 metres of surface. The updated MRE was released on June 12, 2025; a technical report in support of the MRE will be filed on SEDAR+ within 45 days of the announcement. The Taurus deposit footprint accounts for approximately 0.3 per cent of the Cassiar property's mineral tenure within an area which hosts several prospective outlying targets.
2. 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 gold at average head grades of between 10 and 20 g/t Au, underscoring the high potential for further discovery and expansion of high-grade orogenic gold veins.

The company also holds a 100-per-cent interest in properties covering most of the Sheep Creek gold camp, located near Salmo, B.C., 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.

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