Cassiar Gold Reveals Further Information on Private Placement Offering

Calgary, Alberta–(Newsfile Corp. – May 15, 2024) – Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) (“Cassiar Gold” or the “Company“) is pleased to announce that, further to its news release of May 3, 2024 in connection with the closing of its non-brokered private placement of units (“Units“), flow-through units (the “FT Units“) and charity FT Units (the “Offering“), the Company wishes to provide the following additional details of the Offering.

“We are extremely pleased with the overwhelming interest in this insider-led, upsized and well oversubscribed non-brokered equity financing. Broadly distributed, and now with over 17 international institutions as stakeholders, it stands as a testament to the intrinsic value and potential of the Cassiar Gold property,” stated Marco Roque, CEO of Cassiar Gold. “Our fully funded 2024 exploration program has us eagerly anticipating the opening of camp. Our drilling and field campaigns will commence in the next few weeks as we focus on expanding the resource base for the property to unlock value for our shareholders.”

Additional Details of the Offering

In connection with the Offering, the Company has paid certain finders (the “Finders“) a total of $230,245 in cash and 918,540 common share purchase warrants of the Company (the “Finder’s Warrants“). Each Finder’s Warrant is exercisable by the holder to acquire one common share of the Company at a price of C$0.50 for a period of 24 months following the closing date of the Offering. The Finder’s Warrants are subject to a four-month hold period under applicable securities laws.

Insider Participation

Insiders of the Company subscribed for a total of 800,000 Units and 599,999 FT Units for aggregate gross proceeds of $409,999.65. Such participation is subject to the TSX Venture Exchange (“TSXV“) Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions as previously disclosed in the Company’s press release of May 3, 2024. The Offering remains subject to final acceptance of the TSXV.

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.

CONTACT INFORMATION
Marco Roque, President and Chief Executive Officer
Cassiar Gold Corp.
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: 250-212-2122

Forward-Looking Statements

This news release may contain forward looking statements including those describing the Company’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 the Company and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, the use of the proceeds of the Offering, the Company’s exploration plans and work commitments, mineral resource estimates and the assumptions underlying such estimates, and economic factors, business and operations strategies.

Although the Company 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 current 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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