Dallas, TX - January 15, 2026 - Cassiar Gold Corp. (TSXV: GLDC): Stonegate Capital Partners initiates their coverage on Cassiar Gold Corp. (TSXV: GLDC). Cassiar’s technical foundation has advanced materially, culminating in a June 2025 NI 43-101 technical report and updated mineral resource estimate for the Cassiar Gold Property. The pit-constrained Taurus MRE outlines Indicated Mineral Resources of 8.8 Mt at 1.43 g/t Au (410 koz) plus Inferred Mineral Resources of 63.2 Mt at 0.95 g/t Au (1.93 Moz) using a 0.4 g/t Au cut-off, with the Company highlighting that 91% of ounces occur within 150m of surface and that mineralization starts at surface. In parallel, Cassiar has continued active drilling and fieldwork to expand mineralization and improve continuity. During the 2024 drill program the Company drilled a total of 7,168m over 30 holes. This was followed by the 2025 drill program which comprised 7,308 meters over 20 drill holes, with positive early results
Historic Gold Districts: Cassiar’s district-scale land position combines near-surface bulk-tonnage potential at Cassiar North with a second opportunity set at Cassiar South, where historical underground mines have yielded more than 315,000 oz of Au, underscoring high-grade vein potential. The historically productive region, along with Canada being an accommodative jurisdiction, leads to Cassiar being well positioned.
Significant Infrastructure and Access: Cassiar’s investment case remains differentiated by infrastructure that can reduce development friction and support year-round work. The property is bisected by Provincial Highway 37 and includes ~160 km of access roads, a permanent camp with grid power and water, and a fully owned, permitted 300 tpd mill. This infrastructure is expected to keep CapEx low as the Company progresses.
Growth Initiatives: Cassiar has emphasized a disciplined, “bootstrapped” exploration approach that prioritizes high-impact, lower-cost initiatives to systematically build targets and de-risk drilling on a district-scale land package. During the 2024 field season, the Company complemented diamond drilling with a broad technical program designed to establish a stronger geological, geochemical, and geophysical foundation beyond established targets, which is currently being built on with the 2025 drill campaign. This work included detailed mapping and surface sampling, soil surveys, an induced polarization survey, and drone-supported geophysics— most notably drone magnetics and a drone very low frequency electromagnetic (VLF-EM) program. In our view, this integrated workflow improves targeting efficiency by linking surface observations and geochemical anomalies to geophysical signatures.
Sustainability Focus: The Company maintains a collaborative relationship with local stakeholders, alongside commitments to continuous and transparent reporting and advancing under high ESG practices. Consistent with this focus, the Company’s 3Q25 MD&A expense table explicitly includes a line item for “First Nations, Permitting, ESG, Environment” spending.
Valuation: We are using comparative analysis and a sensitivity analysis to help frame our valuation of Cassiar. Using comp companies, we estimated a NPV value and then applied an EV/NPV multiple range of 0.1x-0.4x to arrive at an initial valuation range. When we apply these variables to our sensitivity analysis, adjusting for potential increases in spot prices, we arrive at a valuation range of C$1.35 to C$1.80 with a midpoint of C$1.57.
