Cassiar Gold Intersects New Quartz Veining with Visible Gold, Significantly Extends Mineralized Trend at Newcoast Regional Prospect, and Initiates Evaluation of Mill Refurbishment, Tailings Monetization and High-Grade Strategy

Rhea-AI Summary

Cassiar Gold (OTCQX: CGLCF) reported results from the final 5,243 m (11 holes) of its 2025 Cassiar Gold exploration program at the Newcoast prospect, 2 km southeast of the Taurus deposit. Drilling expanded a sparsely tested mineralized corridor and identified a new quartz-vein structure with visible gold. Key intercepts include 15.7 m @ 3.80 g/t Au (incl. 0.3 m @ 176.50 g/t), 22.5 m @ 3.52 g/t Au (incl. 1.2 m @ 51.68 g/t), and 167.5 m @ 0.42 g/t Au. The company will integrate results into 2026 targeting and begin metallurgical and tailings evaluations, while assessing unmined high-grade veins near the on-site permitted mill.

Positive

• New visible-gold quartz vein: 176.50 g/t Au over 0.3 m
• High-grade intercept: 51.68 g/t Au over 1.2 m
• Broad mineralization: 167.5 m of 0.42 g/t Au
• 2025 program expanded mineralized trend at Newcoast
• Plans to evaluate tailings and mill refurbishment options

Negative

• Metallurgical test results for Taurus deposit are pending
• No updated mineral resource or reserve disclosed in release
• True widths of reported intercepts have not been established

Vancouver, British Columbia--(Newsfile Corp. - January 23, 2026) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) (the "Company") is pleased to announce results from the final 5,243 meters (m) over eleven diamond drill holes of the 2025 exploration program at the Cassiar Gold project, located in northern British Columbia. The 2025 drill program comprised 7,308 m over 20 drill holes and concluded in early October, for which nine drill holes were previously reported. Results reported here identified a new higher grade, visible gold-bearing structure, and significantly extended known mineralization at the Newcoast prospect. These drill holes demonstrate potential for ongoing expansion of mineralization along key structural trends and identification of new mineralized areas with visible gold-bearing veins within extensive untested areas at the Cassiar Gold property.

Highlights:

Drill holes reported here are from the Newcoast Prospect, which is located 2 kilometers (km) southeast of the Taurus deposit (Figure 1). All drill holes at Newcoast encountered broad intercepts of mineralization above 0.4 grams per tonnes (g/t) gold (Au) in 2025 and successfully expanded an extensive, sparsely tested mineralized zone initially encountered during the 2023 drill program. A higher-grade intercept with visible gold was encountered in a newly identified mineralized structure while targeting discrete, previously untested chargeability anomalies along the Newcoast target corridor.

Drilling intercepts represent apparent widths of mineralized zones. A full summary of the latest results can be found in Table 1, and include:

• Drill hole 25NC-017 identified an area of new quartz veining with visible gold, returning:
  • 15.7 m of 3.80 g/t Au from 249.1 m downhole, including:
    • 176.50 g/t Au over 0.3 m
      
      
• Drill hole 25NC-019:
  • 22.5 m of 3.52 g/t Au from 420.9 m downhole, including:
    • 42.41 g/t Au over 1.6 m, with
    • 51.68 g/t Au over 1.2 m
      
      
• Drill hole 25NC-010:
  • 89.2 m of 0.71 g/t Au from 217.3 m downhole, including
    • 43.5 m of 1.12 g/t Au with 0.4 m of 5.59 g/t Au
      
      
• Drill hole 25NC-013:
  • 167.5 m of 0.42 g/t Au from 499.4 m downhole

"We are pleased with the final results of the 2025 drill program. Intercepts at Newcoast further validate our belief that the Cassiar Gold property continues to offer considerable untapped regional potential," stated Marco Roque, President and Chief Executive Officer of Cassiar Gold. "From a business perspective, as we continue to advance our priority exploration targets, we are looking forward to broadening our focus in 2026 to highlight our project's unique advantages amid record gold prices, including established infrastructure and valuable optionality from past-producing high-grade mines."

Figure 1. Cassiar North 2025 drill campaign drill hole location plan map of expansion and exploration drilling at the Newcoast prospect and Taurus deposit, with locations of drill holes reported within this news release contained within the blue outline (shown in detail in Figure 4). Historical production figures from Taurus MINFILE Production Detail Report, file number 104P 012, BC Geological Survey.

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Cassiar North project area - Newcoast prospect

The Newcoast prospect is located roughly 2 kilometers southeast of the Taurus Deposit near the Stewart-Cassiar Highway (Figure1). Newcoast is host to numerous gold-bearing quartz veins and mineralized showings over 4 km in east-west lateral extent which has previously been subject to limited field work and sparse, widely spaced drilling, including nine holes completed during recent drill programs. 

The drilling results reported in this news release are from eleven drill holes totaling 5,243 m (Figure 1,4) which tested the ongoing expansion potential and continuity of an extensive network of alteration, quartz veining and sulphide mineralization identified and extended in previous programs (see NEWS RELEASE, January 22, 2025), as well as evaluated new prospective chargeability anomalies recently identified in 2024 induced polarization survey results (see NEWS RELEASE, May 22, 2025).

Newcoast East: drill holes 25NC-017, -018, -016

Drill holes 25NC-017 and 25NC-018 (north-oriented), aimed to evaluate a previously untested area coincident with a series of discrete, parallel, linear chargeability highs along strike to the east of mineralized veining encountered in outcrop during the 2024 season, which yielded grab samples up to 25.60 g/t Au (see NEWS RELEASE, April 16, 2025). Drill hole 25NC-016 (south-oriented) was designed to undercut a historical drill hole 85 m to the south.

This set of holes identified a new series of quartz veins with visible gold and mineralized alteration halo, highlighting an ongoing potential for additional discovery along northeast trending lineaments in the Newcoast target corridor. Results include (Table 1; Figures 2,3,4):

• Drill hole 25NC-017 encountered multiple specks of visible gold, returning:
  • 176.50 g/t Au over 0.3 m, within 15.7 m of 3.80 g/t Au from 249.1 m downhole

• 17.20 g/t Au over 0.3 m, within 5.1 m of 1.36 g/t Au from 112.7 m downhole in hole 25NC-018

Figure 2. Vertical section of drill hole 25NC-017 at Newcoast East, looking to the west. Assay results in red text are reported in this new release. Plan view slice of chargeability contours at -50 m constant elevation relative to surface shown for reference. Section width +/- 50 m. Location of section line A-A' is shown in plan view Figure 4. See Table 1 for comprehensive assay highlights.

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Figure 3. Visible gold and sulphides in drill hole 25NC-017 observed in quartz veins hosted in Fe-carbonate-sericite altered and sulphide-mineralized basalt.

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Figure 4. Plan view map of 2025 drill holes reported in this news release. The map location is shown in Figure 1. The vertical projection of mineralized intercepts reported in this release are included for reference, the blue dashed lines denoted A - A' and B - B' represent the section line locations for Figures 2 and 6.

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Drill holes 25NC-019, -010, -020

Drill hole 25NC-019 (southwest-oriented) was designed to test the potential for new near-surface mineralization northeast of the broader mineralized corridor, as well as infill within a 250 m gap in previous drilling. Drill holes 25NC-010 and 25NC-020 (northeast/north-oriented) served to reduce drill hole spacing within the same gap to within 50-100 m.

Mineralization was encountered along the interpreted continuation of prospective trends within the 250 m gap between Phase 1 and 2 series drill holes at Newcoast. Results include (Table 1; Figure 4,5,6):

• Multiple intercepts returned in hole 25NC-019:
  • 22.1 m of 1.52 g/t Au from 377.1 m downhole, including
    • 0.5 m of 36.00 g/t Au;
  • 22.5 m of 3.52 g/t Au from 420.9 m downhole, including
    • 42.41 g/t Au over 1.6 m, with 51.68 g/t Au over 1.2 m
      
      
• 89.2 m of 0.71 g/t Au from 217.3 m downhole, including 43.5 m of 1.12 g/t Au in hole 25NC-010

Figure 5. Visible gold in drill hole 25NC-019 observed in quartz veins hosted in Fe-carbonate-sericite altered and sulphide-mineralized basalt.

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Figure 6. Vertical section of drill hole 25NC-010 & 25NC-019 at Newcoast, looking to the northwest. Assay results in red text are reported in this new release. Section width +/- 45 m. Location of section line B-B' is shown in plan view Figure 4. See Table 1 for comprehensive assay highlights.

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Newcoast - expansion: drill holes 25NC-011 through 25NC-015

Drill holes 25NC-013 (northeast-oriented), 25NC-014 and 25NC-015 (southwest and south-oriented, respectively) were designed to step out to the northwest toward the Taurus deposit, as well as below the known extent of the mineralization, and at relatively shallow depth to the northeast.

All of these drill holes returned gold-mineralized intercepts, including 25NC-013 which encountered a broad intercept of intermittent quartz veining and pyrite mineralization, hosted in altered mafic volcanic rocks at greater depths than encountered in any previous drilling at Newcoast. Results include (Table 1; Figure 4):

• Drill hole 25NC-013:
  • 73.4 m of 0.45 g/t Au from 309.3 m downhole, including 0.4 m of 34.10 g/t Au, 0.4 m of 6.36 g/t Au, and 0.4 m of 5.12 g/t Au
  • 167.5 m of 0.42 g/t Au from 499.4 m downhole

Summary

Drilling at the Newcoast prospect continues to demonstrate clear potential for ongoing expansion of broad intervals of mineralization. These have strong similarities to the Taurus deposit and reinforce the prospectivity of the underexplored greater land package at the Cassiar Gold District. As we look forward to the upcoming field season, the technical team is actively integrating 2025 program outcomes into program planning to guide 2026 exploration efforts, including field-based investigations and drill targeting as we concurrently expand our focus to include assessment of additional opportunities inherent to the project.

Corporate Update

Metallurgical work for the Taurus deposit, which hosts the property's foundational mineral resource estimate, is currently underway and results remain pending. Concurrent to, and in support of, planning 2026 exploration programming the Company is preparing to initiate an assessment of unmined higher-grade mineralization associated with past-producing small-scale vein systems at the Cassiar South project area, which could potentially be processed at the existing on-site permitted milling facility. Historical underground mines in the Cassiar South area have yielded approximately 315,000 ounces of gold at average head grades of between 10 and 20 grams per tonne ^[1]. In addition, the Company plans to undertake an evaluation of previous testing programs at a historical tailings management facility (TMF) at Cassiar South. The evaluation will support further metallurgical testing to establish gold recovery.

Table 1. Significant 2025 drilling results from the Newcoast prospect based on a >0.4 g/t Au cutoff. While true thickness has not been established, drill holes are designed to cross at high to moderate angles within known corridors of mineralization based on orientations of mineralized areas defined by previous drilling and structural data from oriented drill core and outcropping veins.

Target  Area	Drill Hole		From (m)	To (m)	Length*  (m)	Grade -  uncapped  (g/t Au)
Newcoast - infill	25NC-010		148.0	155.3	7.3	0.55
			166.3	178.4	12.1	0.40
			217.3	306.5	89.2	0.71
		incl.	257.0	300.5	43.5	1.12
		with	260.9	261.3	0.4	5.59
		and	297.9	298.4	0.5	3.32
			339.2	340.0	0.8	3.20
			382.5	389.7	7.2	0.74
			430.9	432.2	1.3	1.00
			489.6	492.3	2.7	0.54
Newcoast - step out	25NC-011		27.5	31.7	4.2	0.89
			125.2	128.2	3.0	0.76
			146.5	154.3	7.8	0.53
			192.0	233.1	41.1	0.40
		incl.	198.6	199.2	0.6	3.28
		and	220.4	222.0	1.6	3.22
		with	220.9	221.4	0.5	7.01
			265.4	271.1	5.7	0.73
			325.9	341.9	16.0	0.41
			348.8	351.0	2.2	0.82
Newcoast - step out	25NC-012		86.3	89.1	2.8	0.60
			97.4	146.2	48.8	0.40
		incl.	117.4	123.0	5.6	1.02
			158.3	159.1	0.8	1.24
			193.1	205.4	12.3	0.92
		incl.	194.7	195.5	0.8	4.17
			234.2	235.8	1.6	1.04
			264.3	265.7	1.4	1.05
			318.6	324.1	5.5	0.50
		incl.	323.3	324.1	0.8	2.15
			331.9	333.3	1.4	0.83
Newcoast - step out	25NC-013		165.1	169.3	4.2	0.80
		incl.	165.5	166.0	0.5	3.31
			181.5	184.5	3.0	0.82
			263.5	266.3	2.8	1.29
		incl.	265.0	265.4	0.4	3.35
			290.8	293.3	2.5	2.63
		incl.	290.8	291.9	1.1	3.89
			309.3	382.7	73.4	0.45
		incl.	322.2	322.6	0.4	34.10
		and	343.9	344.3	0.4	6.36
		and	361.9	362.3	0.4	5.12
			398.9	402.0	3.1	0.49
			427.4	438.2	10.8	0.45
			447.0	448.7	1.7	1.17
			481.5	484.2	2.7	0.44
			499.4	666.9	167.5	0.42
		incl.	639.7	644.6	4.9	1.69
		and	661.7	662.1	0.4	4.05
			681.9	687.2	5.3	0.49
Newcoast - step out	25NC-014		162.3	213.8	51.5	0.74
		incl.	163.0	163.8	0.8	3.98
		and	169.6	170.8	1.2	9.05
		with	170.4	170.8	0.4	18.30
		and	189.8	192.0	2.2	3.81
		with	189.8	190.4	0.6	8.69
		and	191.4	192.0	0.6	5.29
			359.7	361.3	1.6	1.15
Newcoast - step out	25NC-015		198.5	199.7	1.2	0.91
			211.5	237.3	25.8	0.50
		incl.	211.5	212.3	0.8	5.60
		with	211.8	212.3	0.5	8.34
		and	227.6	230.7	3.1	1.67
			311.1	348.4	37.3	0.91
		incl.	324.5	325.3	0.8	3.50
		and	344.2	345.2	1.0	12.25
		with	344.8	345.2	0.4	23.20
			372.8	391.8	19.0	0.41
			459.6	465.2	5.6	0.77
			474.2	476.5	2.3	0.75
			502.3	514.5	12.2	0.46
			526.0	529.3	3.3	0.54
			534.4	537.1	2.7	0.45
			547.1	553.0	5.9	0.73
Newcoast - step out	25NC-019		106.2	116.7	10.5	0.60
			261.6	263.7	2.1	0.59
			272.9	277.8	4.9	0.68
			296.1	306.2	10.1	0.98
		incl.	300.3	301.1	0.8	3.60
			377.1	399.2	22.1	1.52
		incl.	378.9	379.4	0.5	36.00
			420.9	443.4	22.5	3.52
		incl.	432.9	434.5	1.6	42.41
		with	432.9	434.1	1.2	51.68
			472.0	477.7	5.7	0.82
Newcoast - infill	25NC-020		140.1	185.0	44.9	0.45
		incl.	155.6	156.2	0.6	3.36
		and	165.8	169.7	3.9	2.35
		with	165.8	166.3	0.5	5.40
		and	166.8	167.2	0.4	5.58
		and	168.9	169.7	0.8	4.01
			197.9	203.1	5.2	0.65
		incl.	197.9	198.3	0.4	3.11
			216.8	222.7	5.9	0.44
			253.1	258.9	5.8	0.66
			276.5	280.9	4.4	0.57
			288.5	303.6	15.1	0.45
			320.8	377.9	57.1	0.58
		incl.	347.2	366.4	19.2	1.14
			411.0	415.0	4.0	0.48
			425.2	431.5	6.3	0.67
		incl.	430.8	431.5	0.7	5.01
			448.4	449.7	1.3	0.87
			486.7	493.3	6.6	0.77
			522.4	524.5	2.1	1.02
Newcoast East	25NC-016		180.3	190.2	9.9	0.75
		incl.	187.7	189.2	1.5	3.95
		with	187.7	188.1	0.4	3.30
		and	188.8	189.2	0.4	7.39
	25NC-017		88.1	88.8	0.7	1.53
			104.2	107.5	3.3	0.51
			143.3	149.7	6.4	0.47
			183.0	183.6	0.6	2.84
			194.6	197.6	3.0	1.95
		incl.	194.6	195.4	0.8	4.87
		with	194.6	195.0	0.4	6.78
			216.5	224.9	8.4	0.62
		incl.	223.4	224.6	1.2	3.39
			249.1	264.8	15.7	3.80
		incl.	255.9	256.2	0.3	176.50
			368.2	372.5	4.3	0.74
		incl.	368.2	369.0	0.8	2.48
		and	372.2	372.5	0.3	2.42
			380.7	387.2	6.5	0.42
			396.2	399.5	3.3	0.41
			413.4	418.3	4.9	0.56
	25NC-018		79.5	83.6	4.1	1.46
		incl.	82.1	82.6	0.5	6.32
			97.2	97.9	0.7	4.04
			112.7	117.8	5.1	1.36
		incl.	112.7	113.0	0.3	17.20
			173.9	174.3	0.4	3.39
			244.1	245.2	1.1	5.75
* Drill core lengths are reported here. True widths for these intervals have not been established.

 

Quality Assurance (QA) and Quality Control (QC)

The 2025 Cassiar drilling program comprises HQ diamond drill core. Drill core samples are selected and logged by geologists prior to being cut in half using a diamond cutting saw at a secure facility located in Jade City, British Columbia. Certified gold reference standards and blanks are routinely inserted into the sample stream as part of the Company's QA/QC program. All samples are delivered to the ALS Global preparation facility in Whitehorse, Yukon, then shipped to ALS Global preparation and analytical facilities in Vancouver, British Columbia. Samples are analyzed for gold by 50-gram fire assay with finish by atomic absorption or gravimetric methods. Screen metallic analysis is performed on selected samples. 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:

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 NI 43-101. The pit-constrained MRE contains Indicated Mineral Resources of 8.8 million tonnes (Mt) at 1.43 grams per tonne gold (g/t Au) for 410,000 ounces of gold in addition to Inferred Mineral Resources of 63.2 Mt at 0.95 g/t Au for 1.93 million ounces (Moz) of gold using a 0.4 g/t Au cut-off grade; 91% of ounces occur within 150 m of surface (see NI 43-101 Technical Report titled "National Instrument 43-101 Technical Report on the Cassiar Gold Property", prepared by Zelligan, P.Geo, and Jolette, P.Geo, and dated effective June 8, 2025).; and

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 Au at average head grades of between 10 and 20 g/t Au (NI 43-101 Technical Report titled "National Instrument 43-101 Technical Report on the Cassiar Gold Property", prepared by Zelligan, P.Geo, and Jolette, P.Geo, and dated effective June 8, 2025), 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 from 1900 to 1951. Minimal exploration work has been conducted since the 1950s.

Qualified Persons

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

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

CONTACT INFORMATION
Jason Shepherd
VP Investor Relations
Cassiar Gold Corp.
E-mail: jasons@cassiargold.com
Phone: 250-212-2122

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: timing and extent of planned drilling, potential for new discoveries, timing for providing assay results, conceptual areas for extension and expansion, size of the 2025 drill campaign, results from drilling and the risks and assumptions set out in the NI 43-101 Report.

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, a 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.

---

[1] See June 8, 2025, NI43-101 Report titled "National Instrument 43-101 Technical Report on the Cassiar Gold Property" by Zelligan, P.Geo, and Jolette, P.Geo.

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FAQ

What were Cassiar Gold (CGLCF) drill highlights from January 23, 2026?

Key highlights include 15.7 m @ 3.80 g/t Au (incl. 0.3 m @ 176.50 g/t) and 22.5 m @ 3.52 g/t Au (incl. 1.2 m @ 51.68 g/t) at Newcoast.

How did the 2025 drilling expand the Newcoast prospect for CGLCF?

Eleven holes (5,243 m) extended a sparsely tested mineralized corridor and confirmed broad, continuous alteration and quartz veining over new strike extent.

Will Cassiar Gold (CGLCF) update its resource after the 2025 drill results?

The release does not disclose a new resource estimate; technical results will be integrated into 2026 exploration planning.

What corporate actions is Cassiar Gold (CGLCF) pursuing after the 2025 program?

The company is initiating metallurgical work, assessing mill refurbishment and tailings monetization, and evaluating unmined high-grade vein material.

Are the reported intercept widths for CGLCF true widths?

No — the release states drill core lengths are reported and true widths have not been established.

How close is Newcoast to Cassiar Gold's Taurus deposit mentioned in the January 23, 2026 release?

Newcoast is located approximately 2 kilometers southeast of the Taurus deposit.