Cascadia Steps Out and Drills 75.55 m of 1.19% Cu and 0.97 g/t Au (2.18% CuEq) at the Carmacks Project, Yukon

VANCOUVER, BC, Oct. 1, 2026 /CNW/ -- Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM) (OTCQB: CAMNF) is pleased to announce the results of three additional drill holes from its 2026 exploration program at the road-accessible Carmacks copper-gold project in central Yukon. These results continue to expand mineralization at Zone 2000S beyond the boundaries of the existing Mineral Resource and highlight the high-grade nature of this extension.

Carmacks Drilling Highlights

2000S Step Out Holes

• Hole CD-26-058 returned:
  • 75.55 m of 1.19% copper with 0.97 g/t gold, 10.4 g/t silver and 335 ppm molybdenum (2.18% CuEq),
  • including 48.66 m of 1.61% copper with 1.39 g/t gold, 15.1 g/t silver and 475 ppm molybdenum (3.03% CuEq);
• Hole CD-26-059 returned:
  • 93.99 m of 0.96% copper with 0.70 g/t gold, 4.6 g/t silver and 919 ppm molybdenum (1.94% CuEq),
  • including 63.97 m of 1.26% copper with 0.96 g/t gold, 6.3 g/t silver and 1049 ppm molybdenum (2.52% CuEq);
• Hole CD-26-057 returned:
  • 60.51 m of 0.71% copper with 0.37 g/t gold, 3.3 g/t silver and 170 ppm molybdenum (1.10% CuEq),
  • including 31.47 m of 0.98% copper with 0.55 g/t gold, 4.8 g/t silver and 218 ppm molybdenum (1.54% CuEq);
• These holes are located withing the extension of Zone 2000S towards Zone 147, with hole 59 collared 142 m northeast of previously reported hole 56;
• Hole CD-26-057 intersected strong mineralization approximately 430 m below surface, indicating mineralization remains open at depth. Drilling continues to demonstrate the high-grade nature of this extension, which remains open in multiple directions.

"These three holes returned some of the best grades ever drilled in the deposit, including significantly elevated gold and molybdenum," said Graham Downs, President and CEO of Cascadia. "The Zone 2000S extension target is delivering exceptional results in the best possible location – right between two parts of the existing Mineral Resource. Our drill program remains on track this season, with additional holes planned in this target area before we end for the season in mid-October. Work is also underway to upgrade the camp facilities at site to prepare for a scaled-up work program in 2027."

Figure 1 – Carmacks Deposit Drill Plan Map
Figure 2 – Zone 2000S Long Section
Figure 3 – Cross Section A, CD-26-057

To learn more about these results, join Andrew Carne, Cascadia's Vice President Corporate Development for a webinar on Friday, October 2^nd, at 11AM PT / 2PM ET. Register here: https://6ix.com/event/step-out-drilling-at-the-carmacks-property-continues-to-deliver-high-grade-results 

To view the Carmacks Deposit and these newly released results in 3D, please click here: https://mininghub.com/3d/v/iMikoMkx 

2026 Carmacks Drilling Summary

A total of 36 holes comprising 17,309 m have been completed out of an expanded 18,000 m drill program. Work to-date has been focused at the 147 and 2000S zones, with prioritization of holes testing the extension of Zone 2000S north towards Zone 147. Drilling in this area has now encountered sulphide mineralization 300 m north of the existing Mineral Resource at Zone 2000S, within 300 m of the southern extent of sulphide mineralization drilled in Zone 147. Three holes were recently completed at Zone 14, located 500 m east of Zone 1213, in addition to three holes at Zone A, located 11 km northwest of the main Carmacks Deposit. Three holes were also completed at Zone 1213, testing underneath successful step-out holes from the 2025 drill program.

Sixteen holes from the ongoing 2026 drill program have been previously released. Assays from the remaining holes are pending and will be released once they are received and compiled.

Table 1: New Carmacks Drilling Results (October 1, 2026)

Drill Hole	From (m)	To (m)	Interval (m)^*	Copper (%)	Gold (g/t)	Silver (g/t)	Molybdenum (ppm)	CuEq. (%)^**
Zone 2000S
CD-26-057	489.18	549.69	60.51	0.71	0.37	3.3	170	1.10
incl	489.18	520.65	31.47	0.98	0.55	4.8	218	1.54
CD-26-058	425.73	501.28	75.55	1.19	0.97	10.4	335	2.18
incl	446.53	495.19	48.66	1.61	1.39	15.1	475	3.03
Incl	455.06	469.56	14.50	2.30	2.68	29.5	1015	5.08
CD-26-059	132.18	139.46	7.28	0.77	0.38	3.2	7	1.10
and	468.14	562.13	93.99	0.96	0.70	4.6	919	1.94
incl	498.16	562.13	63.97	1.26	0.96	6.3	1049	2.52

*  The reported intervals are drilled thicknesses. True widths are estimated to be 60-70%.

** Copper equivalent calculations use metal prices of US$4.00/lb for copper, US$2,500/oz for gold, US$30/oz for

     silver and US$20/lb for molybdenum. Recovery factors of 82% for copper, 70% for gold, 69% for silver and 70%

     for molybdenum were used, based on recovery projections from the 2023 PEA study.

Zone 2000S Drill Results

Drilling at Zone 2000S has continued to focus on testing the gap between it and Zone 147, located 600 m to the north. At Zone 2000S, historical drilling delineated mineralization over a strike length of 300 m and was thought to terminate to the north. It was on this basis that the 2022 Resource Estimate was calculated. Drilling in 2026 has demonstrated that this area remains open, with Zone 2000S continuing at least a further 300 m towards Zone 147, doubling the strike length of Zone 2000S compared to the 2022 Resource. This area is also exhibiting higher grade mineralization, with enriched gold and molybdenum compared to other portions of the deposit.

Hole CD-26-057 was drilled 65 m down-dip of previously reported hole CD-26-050 and returned similarly strong mineralization. It intersected 60.51 m of 0.71% copper with 0.37 g/t gold, 3.3 g/t silver and 170 ppm molybdenum (1.10% copper equivalent), including 31.47 m of 0.98% copper with 0.55 g/t gold, 4.8 g/t silver and 218 ppm molybdenum (1.54% copper equivalent). This intersection represents the deepest point tested on this section, with mineralization encountered 430 m vertically below surface. This area remains open at depth below hole 57.

Hole CD-26-058 intersected mineralization 100 m northeast of previously reported hole 56 and returned one of the highest-grade intersections ever drilled on the property, with 75.55 m of 1.19% copper with 0.97 g/t gold, 10.4 g/t silver and 335 ppm molybdenum (2.18% CuEq), including 48.66 m of 1.61% copper with 1.39 g/t gold, 15.1 g/t silver and 475 ppm molybdenum (3.03% CuEq). In addition to strong copper grades, this hole also encountered significantly higher gold, silver and molybdenum grades than typically observed elsewhere in the deposit. A peak value of 173 g/t silver was returned over a 0.74 m sample from 463.75 m, and a peak value of 6.99 g/t gold was returned over a separate 1.1 m sample. This area remains open both up-dip and at depth.

Hole CD-26-059 intersected mineralization a further 82 m north of hole 58 and returned similarly strong grades, with the primary mineralized raft returning 93.99 m of 0.96% copper with 0.70 g/t gold, 4.6 g/t silver, and 919 ppm molybdenum (1.94% CuEq), including 63.97 m of 1.26% copper with 0.96 g/t gold, 6.3 g/t silver and 1049 ppm molybdenum (2.52% CuEq). A second mineralized raft was also encountered near the top of the hole, potentially representing an extension of the Zone 4 oxide target, returning 7.28 m of 0.77% copper with 0.38 g/t gold and 3.2 g/t silver (1.10% CuEq). This hole also returned an interval of semi-massive molybdenite, with a 0.52 m sample grading 0.75% copper, 0.32 g/t gold, 2.8 g/t silver and 6.47% molybdenum from 513.48 m depth. This area also remains open both up-dip and at depth.

Results for six additional holes in this area are pending, all of which have encountered sulphide mineralization, and drilling is planned to continue until mid-October.

Table 2: 2026 Carmacks Diamond Drill Collar Locations

Zone	Drill Hole	Easting (m)^*	Northing (m)^*	Azimuth (°)	Dip (°)	Depth (m)	Status
147	CD-26-041	412097	6913674	229	-68	289.56	Released^**
	CD-26-042	412170	6913981	243	-64	521.21	Released^**
	CD-26-044	412228	6913934	245	-64	577.60	Released^**
	CD-26-047	412165	6913839	246	-63	525.78	Released^**
	CD-26-049	412339	6914013	237	-58	673.61	Released^**
	CD-26-052	412308	6913877	242	-60	630.94	Released^**
	CD-26-055	412460	6914045	243	-55	806.20	Released^**
2000S	CD-26-045	412339	6913044	248	-55	301.65	Released^**
	CD-26-046	412339	6913039	246	-65	446.53	Released^**
	CD-26-048	412360	6912977	245	-65	411.20	Released^**
	CD-26-050	412420	6913106	243	-57	534.92	Released^**
	CD-26-054	412482	6913045	245	-58	563.88	Released^**
	CD-26-056	412360	6913135	244	-58	413.00	Released^**
	CD-26-057	412495	6913176	240	-56	609.60	Released
	CD-26-058	412402	6913234	238	-56	545.90	Released
	CD-26-059	412393	6913275	249	-55	589.79	Released
	CD-26-060	412391	6913428	236	-55	664.00	Pending
	CD-26-061	412359	6913497	236	-55	678.18	Pending
	CD-26-064	412333	6913207	236	-55	487.68	Pending
	CD-26-070	412401	6913232	233	-63	635.51	Pending
	CD-26-072	412297	6913099	240	-60	323.09	Pending
	CD-26-073	412394	6913276	235	-60	595.88	Pending
1213	CD-26-068	413064	6912320	246	-75	303.50	Pending
	CD-26-069	412888	6912496	244	-75	356.00	Pending
	CD-26-071	412798	6912591	244	-80	290.00	Pending
Fault Zone	CD-26-066	412592	6912835	200	-55	453.00	Pending
	CD-26-067	412592	6912835	240	-55	462.00	Pending
Gap	CD-26-043	412155	6913167	250	-60	498.35	Released^**
Sourtoe	CD-26-051	411181	6913362	248	-55	467.87	Released^**
	CD-26-053	411310	6913243	245	-55	563.88	Released^**
14	CD-26-062	413585	6912621	70	-75	282.50	Pending
	CD-26-063	413585	6912621	289	-60	271.00	Pending
	CD-26-065	413585	6912621	205	-60	298.50	Pending
A	CA-26-001	404373	6921968	210	-55	362.71	Pending
	CA-26-002	404319	6922073	210	-55	38.71	Pending
	CA-26-003	404319	6922073	200	-70	431.29	Pending
	CA-26-004	404512	6921916	210	-55	403.86	Pending

* Collar co-ordinates are provisional and may change slightly when surveys are completed.

**  Previously released hole.

Carmacks Property Overview

Cascadia's 180 km² Carmacks Project is located within the Traditional Territory of the Little Salmon Carmacks and Selkirk First Nations and is 35 km southeast of the past producing Minto Mine, which was recently acquired by Selkirk Copper Mines Inc. The Carmacks Project is road-accessible, via a 13 km access road which extends from the government-maintained Freegold Road northwest of the town of Carmacks in central Yukon. The project has an existing 40-person camp, numerous roads throughout the property, and is 10 km from grid power.

The project covers a large portion of the Minto Copper Belt, a 180 km x 60 km belt of intrusion-related copper-gold-silver deposits. This belt is situated within the Stikine Terrane, which extends into Yukon from British Columbia, and is characterized by Late Triassic to early Jurassic volcanic-plutonic arc complexes that are well-endowed with copper-gold-molybdenum porphyries including the Red Chris, Schaft Creek, Kemess, KSM and Galore Creek deposits and mines.

In addition to numerous early-stage targets, the project hosts the resource-stage Carmacks Deposit, comprising a series of 5-100 m wide 'rafts' of variably migmatized xenolithic meta-sedimentary and meta-volcanic rocks hosted within the coarse crystalline granitoids of the Granitoid Mountain Batholith suite. The 'rafts' generally trend NNW-SSE over 3 km of strike length and form three distinct zones of mineralization. Sulphide mineralization is confined to the metamorphic 'rafts' and is found as chalcopyrite-bornite foliation parallel stringers as well as net-textured clots, interpreted as evidence for later sulphide melts. The contacts with the intrusive phases of the granite mountain batholith are sharp and unaltered. The geology and deposit model are thought to be similar to the nearby Minto Deposit, with past work suggesting that the system is the result of an alkalic porphyry deposit that was metamorphosed up to the point of partial melting at depths of up to 25km, followed by rapid uplift to near surface.

The Carmacks Deposit has 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, 3.23 g/t silver and 0.01% molybdenum) or 1.07% copper equivalent, and an Inferred Resource containing 38 Mlbs of copper and 13 koz of gold (2.9 Mt grading 0.60% copper, 0.16 g/t gold, 2.34 g/t silver and 0.02% molybdenum). A 2023 preliminary economic assessment demonstrated positive economic potential, with a $230.4 M post-tax NPV_(5%) and 29% post-tax IRR at US$3.75/lb copper and US$1,800/oz gold. A second case evaluated at $4.25/lb copper and $2,000/oz gold returned a $330.1 M post-tax NPV_(5%) and 38% after-tax IRR.

The deposit is comprised of three zones, 147, 2000S and 1213, all of which come to surface and remain open to expansion in multiple directions. Historical drilling at the deposit focused primarily on oxide copper mineralization, and numerous holes were ended when sulphide mineralization was encountered. Zone 1213 in particular hosts very shallow sulphide mineralization that has seen limited drilling.

About Cascadia

Cascadia's flagship asset is the Carmacks Project in the high-grade Minto Copper Belt in Yukon Territory, Canada. Cascadia is also exploring the Stikine Terrane in Yukon for new gold-copper discoveries through its Strategic Alliance with Agnico Eagle Mines Ltd. The Stikine Terrane extends into Yukon from British Columbia's Golden Triangle and is a highly prospective target area for gold-copper porphyry mineralization. While the expression of the Stikine Terrane in British Columbia has been explored in detail – resulting in numerous discoveries – its expression in Yukon is comparatively underexplored and not well understood.

QA/QC

Analytical work was completed by ALS Canada Ltd., with sample preparation in Whitehorse, Yukon and Langley, BC, and geochemical analyses in North Vancouver, BC. Core samples were fine crushed before a 250-gram split was pulverized to better than 85% passing 75 microns. Gold was determined for core samples by the Au-AA23 procedure, which involves fire assay preparation using a 30-gram charge with an atomic absorption spectroscopy finish. Multi-element data for 48 elements was determined by the ME-MS61 procedure, which involves a four-acid digestion followed by inductively coupled plasma-atomic emission spectroscopy ("ICP-AES") and inductively coupled plasma-mass spectrometry. Overlimit values for copper and molybdenum were determined by the Cu-OG62 and Mo-OG62 procedures, respectively, which involve four-acid digestions followed by ICP-AES.

Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream of diamond drill samples to ensure integrity of the assay process. All diamond drill samples included in this news release have passed the QA/QC procedures as described above. Core was sampled using a diamond saw, with half of each interval sent to the lab for analysis, and the other half retained. Estimated true widths vary but are expected to be typically 60-70% of the intersected widths.

The Mineral Resources and economic analysis disclosed here are referenced from the 2023 Carmacks Project Preliminary Economic Assessment ("Carmacks PEA"). Pricing for the Carmacks 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 C$1 = US$0.75. The results of the Carmacks PEA 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.  For more information on the Carmacks PEA please see the Technical Report entitled Carmacks Project Preliminary Economic Assessment (PEA), Yukon, Canada dated March 6, 2023, authored by SGS Canada Inc. for Granite Creek Copper Ltd. A copy of this Technical Report is available on www.cascadiaminerals.com and on SEDAR+ under the Granite Creek Copper Ltd. profile.

Results referenced in this release represent highlights only. Below detection values for gold, copper, silver and molybdenum have been encountered in drilling, 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. Copper equivalent calculations use metal prices of US$4.00/lb for copper, US$2,500/oz for gold, US$30/oz for silver and US$20/lb for molybdenum. Recovery factors of 82% for copper, 70% for gold, 69% for silver and 70% for molybdenum were used, based on recovery projections from the Carmacks PEA.

The technical information in this news release has been approved by Thomas Hawkins, P.Geo., VP Exploration for Cascadia and a qualified person for the purposes of National Instrument 43-101.

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.Cascadia undertakes no obligation to update forward-looking information, except as required by securities laws.

SOURCE Cascadia Minerals Ltd.

For further information, please contact: Andrew Carne, M.Eng., P.Eng., VP Corporate Development, Cascadia Minerals Ltd., T: 604-688-0111 ext. 106, [email protected]